Panagora Asset Management Inc. lessened its position in shares of Terex Co. (NYSE:TEX) by 33.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 9,074 shares of the industrial products company’s stock after selling 4,547 shares during the quarter. Panagora Asset Management Inc.’s holdings in Terex were worth $285,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Dupont Capital Management Corp bought a new position in shares of Terex during the 1st quarter worth approximately $120,000. Investors Research Corp lifted its holdings in shares of Terex by 16.2% in the 2nd quarter. Investors Research Corp now owns 4,300 shares of the industrial products company’s stock worth $135,000 after purchasing an additional 600 shares in the last quarter. NumerixS Investment Technologies Inc lifted its holdings in shares of Terex by 166.7% in the 1st quarter. NumerixS Investment Technologies Inc now owns 4,800 shares of the industrial products company’s stock worth $154,000 after purchasing an additional 3,000 shares in the last quarter. Pinnacle Associates Ltd. bought a new position in shares of Terex in the 1st quarter worth $231,000. Finally, Loews Corp bought a new position in shares of Terex in the 1st quarter worth $249,000. 88.31% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on TEX. Evercore ISI reiterated an “in-line” rating and issued a $31.00 target price (down from $40.00) on shares of Terex in a report on Friday, May 31st. ValuEngine upgraded Terex from a “strong sell” rating to a “sell” rating in a report on Friday, August 2nd. BMO Capital Markets cut their target price on Terex to $30.00 and set a “market perform” rating on the stock in a report on Wednesday, July 31st. UBS Group cut their target price on Terex from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, TheStreet cut Terex from a “b-” rating to a “c+” rating in a report on Monday, August 26th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $33.33.

Shares of Terex stock traded up $0.58 during trading hours on Friday, hitting $27.50. 16,048 shares of the company’s stock traded hands, compared to its average volume of 898,052. Terex Co. has a 12-month low of $22.91 and a 12-month high of $42.74. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 0.90 and a beta of 1.77. The company has a fifty day simple moving average of $26.49 and a 200-day simple moving average of $30.03. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.21 and a quick ratio of 1.43.

Terex (NYSE:TEX) last posted its earnings results on Monday, July 29th. The industrial products company reported $1.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.34 by ($0.13). The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Terex had a net margin of 0.29% and a return on equity of 27.40%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. On average, analysts forecast that Terex Co. will post 3.58 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Monday, August 12th will be given a dividend of $0.11 per share. The ex-dividend date is Friday, August 9th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.60%. Terex’s dividend payout ratio (DPR) is presently 16.24%.

Terex Profile

Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.

Further Reading: Oversold

Institutional Ownership by Quarter for Terex (NYSE:TEX)

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