Front Street Capital Management Inc. cut its position in Terex Corporation (NYSE:TEX) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 271,730 shares of the industrial products company’s stock after selling 2,472 shares during the period. Terex Corporation makes up approximately 3.9% of Front Street Capital Management Inc.’s holdings, making the stock its 9th largest position. Front Street Capital Management Inc. owned 0.28% of Terex Corporation worth $10,190,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TEX. M&T Bank Corp boosted its stake in shares of Terex Corporation by 1.5% in the first quarter. M&T Bank Corp now owns 8,905 shares of the industrial products company’s stock worth $279,000 after buying an additional 130 shares in the last quarter. Thrivent Financial For Lutherans boosted its stake in shares of Terex Corporation by 8.3% in the first quarter. Thrivent Financial For Lutherans now owns 19,920 shares of the industrial products company’s stock worth $625,000 after buying an additional 1,520 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Terex Corporation by 13.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,515 shares of the industrial products company’s stock worth $267,000 after buying an additional 1,014 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Terex Corporation by 7.6% in the first quarter. Geode Capital Management LLC now owns 824,753 shares of the industrial products company’s stock worth $25,897,000 after buying an additional 58,306 shares in the last quarter. Finally, Schneider Capital Management Corp boosted its stake in shares of Terex Corporation by 0.7% in the first quarter. Schneider Capital Management Corp now owns 720,711 shares of the industrial products company’s stock worth $22,630,000 after buying an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Terex Corporation (TEX) traded up 0.52% on Wednesday, reaching $38.58. 118,400 shares of the company traded hands. The firm’s market cap is $3.45 billion. Terex Corporation has a 52-week low of $21.88 and a 52-week high of $40.24. The stock has a 50-day moving average price of $38.41 and a 200-day moving average price of $34.33.

Terex Corporation (NYSE:TEX) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the business earned $0.64 earnings per share. Terex Corporation’s revenue was down 8.9% compared to the same quarter last year. Analysts anticipate that Terex Corporation will post $1.15 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Wednesday, August 9th will be given a $0.08 dividend. The ex-dividend date is Monday, August 7th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.83%. Terex Corporation’s dividend payout ratio (DPR) is currently -50.79%.

Terex Corporation announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 30th that authorizes the company to repurchase $280.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 8.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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A number of research firms have issued reports on TEX. Zacks Investment Research upgraded shares of Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Thursday, July 13th. Credit Suisse Group set a $45.00 price target on shares of Terex Corporation and gave the company a “buy” rating in a report on Monday, June 26th. Wells Fargo & Co restated an “outperform” rating and set a $41.00 price target (up from $38.50) on shares of Terex Corporation in a report on Monday, June 19th. Goldman Sachs Group, Inc. (The) cut shares of Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Thursday, June 15th. Finally, Bank of America Corporation cut shares of Terex Corporation from a “neutral” rating to an “underperform” rating and upped their price target for the company from $29.00 to $33.00 in a report on Thursday, May 11th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $36.63.

In related news, insider Matthew Fearon sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $38.00, for a total value of $494,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Eric I. Cohen sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $36.42, for a total transaction of $364,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 4,224 shares of company stock valued at $158,313 and sold 85,952 shares valued at $3,241,073. 2.50% of the stock is currently owned by company insiders.

Terex Corporation Company 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 Corporation (NYSE:TEX)

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