Bank of New York Mellon Corp lifted its position in shares of Terex Co. (NYSE:TEX) by 21.6% in the second quarter, HoldingsChannel.com reports. The firm owned 1,449,090 shares of the industrial products company’s stock after purchasing an additional 257,666 shares during the period. Bank of New York Mellon Corp’s holdings in Terex were worth $61,137,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TEX. Royal Bank of Canada increased its holdings in shares of Terex by 15.1% during the first quarter. Royal Bank of Canada now owns 82,897 shares of the industrial products company’s stock valued at $3,101,000 after purchasing an additional 10,850 shares during the period. Xact Kapitalforvaltning AB increased its holdings in shares of Terex by 24.9% during the second quarter. Xact Kapitalforvaltning AB now owns 15,053 shares of the industrial products company’s stock valued at $635,000 after purchasing an additional 3,000 shares during the period. Bank of Montreal Can increased its holdings in shares of Terex by 836.0% during the second quarter. Bank of Montreal Can now owns 405,341 shares of the industrial products company’s stock valued at $17,101,000 after purchasing an additional 362,037 shares during the period. Pendal Group Ltd increased its holdings in shares of Terex by 66.5% during the second quarter. Pendal Group Ltd now owns 52,629 shares of the industrial products company’s stock valued at $2,220,000 after purchasing an additional 21,015 shares during the period. Finally, James Investment Research Inc. acquired a new position in shares of Terex during the second quarter valued at $2,037,000. Institutional investors own 98.74% of the company’s stock.

NYSE:TEX opened at $31.10 on Friday. The stock has a market cap of $2.22 billion, a P/E ratio of 23.04, a PEG ratio of 0.57 and a beta of 1.61. Terex Co. has a 52-week low of $28.64 and a 52-week high of $50.17. The company has a current ratio of 2.22, a quick ratio of 1.14 and a debt-to-equity ratio of 1.16.

Terex (NYSE:TEX) last released its earnings results on Thursday, November 1st. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.07). The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.28 billion. Terex had a return on equity of 18.86% and a net margin of 2.42%. Terex’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 earnings per share. Sell-side analysts anticipate that Terex Co. will post 2.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Friday, November 9th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Thursday, November 8th. Terex’s payout ratio is currently 29.63%.

In related news, insider Kevin A. Barr sold 11,937 shares of Terex stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $38.43, for a total transaction of $458,738.91. Following the transaction, the insider now directly owns 101,980 shares of the company’s stock, valued at $3,919,091.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kevin A. Barr sold 10,000 shares of Terex stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $39.65, for a total value of $396,500.00. Following the transaction, the insider now directly owns 113,908 shares in the company, valued at $4,516,452.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 1,445 shares of company stock worth $52,655 and have sold 38,866 shares worth $1,514,531. 3.50% of the stock is owned by insiders.

A number of research analysts have recently commented on the company. ValuEngine raised Terex from a “strong sell” rating to a “sell” rating in a report on Wednesday, November 7th. TheStreet lowered Terex from a “b” rating to a “c+” rating in a report on Friday, November 2nd. Deutsche Bank lowered their price target on Terex from $32.00 to $28.00 and set a “sell” rating on the stock in a report on Monday, November 5th. Wells Fargo & Co lowered their price target on Terex from $45.00 to $34.00 and set a “hold” rating on the stock in a report on Monday, November 5th. Finally, Morgan Stanley lowered their price target on Terex from $46.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, November 5th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.75.

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Terex Company 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.

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Institutional Ownership by Quarter for Terex (NYSE:TEX)

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