Terex Co. (TEX) Stake Lessened by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its position in Terex Co. (NYSE:TEX) by 3.4% during the 4th quarter, Holdings Channel reports. The firm owned 65,219 shares of the industrial products company’s stock after selling 2,310 shares during the period. Mutual of America Capital Management LLC’s holdings in Terex were worth $3,145,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in shares of Terex by 4.7% in the second quarter. PNC Financial Services Group Inc. now owns 5,825 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 262 shares during the last quarter. Cowen Inc. bought a new position in shares of Terex in the third quarter worth approximately $675,000. Cubist Systematic Strategies LLC bought a new position in shares of Terex in the third quarter worth approximately $499,000. Oakbrook Investments LLC bought a new position in shares of Terex in the third quarter worth approximately $320,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Terex in the third quarter worth approximately $677,000. Hedge funds and other institutional investors own 96.63% of the company’s stock.

In other news, VP Eric I. Cohen sold 10,121 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $49.90, for a total transaction of $505,037.90. Following the sale, the vice president now owns 185,897 shares in the company, valued at approximately $9,276,260.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Mark I. Clair sold 3,014 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $45.53, for a total transaction of $137,227.42. The disclosure for this sale can be found here. In the last quarter, insiders purchased 641 shares of company stock worth $29,842. 2.50% of the stock is currently owned by company insiders.

Several research analysts have recently issued reports on TEX shares. Citigroup raised their target price on shares of Terex from $39.00 to $49.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. KeyCorp restated a “hold” rating on shares of Terex in a report on Wednesday, November 1st. Bank of America cut their target price on shares of Terex from $42.00 to $40.00 and set an “underperform” rating on the stock in a report on Wednesday, November 8th. Wells Fargo & Co set a $52.00 target price on shares of Terex and gave the stock a “buy” rating in a report on Monday, October 16th. Finally, OTR Global upgraded shares of Terex to a “positive” rating in a report on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $44.71.

Shares of Terex Co. (NYSE:TEX) opened at $42.47 on Friday. The firm has a market cap of $3,570.00, a price-to-earnings ratio of -22.12, a P/E/G ratio of 1.70 and a beta of 1.71. Terex Co. has a fifty-two week low of $28.67 and a fifty-two week high of $50.17. The company has a quick ratio of 1.53, a current ratio of 2.42 and a debt-to-equity ratio of 0.71.

Terex announced that its Board of Directors has approved a share buyback plan on Wednesday, February 7th that allows the company to buyback $325.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Friday, March 9th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.94%. This is a boost from Terex’s previous quarterly dividend of $0.08. Terex’s payout ratio is -16.67%.

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Terex Profile

Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries.

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Institutional Ownership by Quarter for Terex (NYSE:TEX)

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