California Public Employees Retirement System Reduces Holdings in Terex Co. (TEX)

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California Public Employees Retirement System reduced its position in Terex Co. (NYSE:TEX) by 4.7% during the 1st quarter, Holdings Channel reports. The firm owned 303,646 shares of the industrial products company’s stock after selling 14,871 shares during the quarter. California Public Employees Retirement System’s holdings in Terex were worth $9,756,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Commonwealth Equity Services LLC increased its holdings in shares of Terex by 1.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 43,450 shares of the industrial products company’s stock valued at $1,197,000 after acquiring an additional 795 shares during the last quarter. KBC Group NV increased its holdings in shares of Terex by 24.6% during the 4th quarter. KBC Group NV now owns 227,820 shares of the industrial products company’s stock valued at $6,281,000 after acquiring an additional 44,927 shares during the last quarter. Wiley BROS. Aintree Capital LLC acquired a new position in shares of Terex during the 4th quarter valued at about $203,000. Financial Architects Inc acquired a new position in shares of Terex during the 4th quarter valued at about $69,000. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Terex by 10.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 552,731 shares of the industrial products company’s stock valued at $15,239,000 after acquiring an additional 52,827 shares during the last quarter. 88.27% of the stock is currently owned by institutional investors.

TEX opened at $28.13 on Friday. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 0.81 and a beta of 1.60. The company has a current ratio of 2.27, a quick ratio of 1.41 and a debt-to-equity ratio of 2.01. Terex Co. has a 12-month low of $25.47 and a 12-month high of $45.47.

Terex (NYSE:TEX) last released its earnings results on Tuesday, April 30th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.30. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. Terex had a positive return on equity of 25.38% and a negative net margin of 0.06%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 EPS. Research analysts expect that Terex Co. will post 4.03 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Friday, June 7th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, June 6th. Terex’s dividend payout ratio (DPR) is currently 16.24%.

In other Terex news, insider Steve Filipov sold 10,048 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $35.64, for a total value of $358,110.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director International Master F. Marcato sold 1,100,000 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $31.54, for a total value of $34,694,000.00. The disclosure for this sale can be found here. Insiders acquired a total of 1,650 shares of company stock worth $53,474 in the last ninety days. Insiders own 4.00% of the company’s stock.

A number of research analysts have recently commented on the company. ValuEngine lowered Terex from a “sell” rating to a “strong sell” rating in a report on Monday, May 20th. Wells Fargo & Co increased their price objective on Terex from $32.00 to $37.00 and gave the company a “market perform” rating in a report on Tuesday, February 26th. Zacks Investment Research lowered Terex from a “strong-buy” rating to a “hold” rating in a report on Monday, April 29th. Credit Suisse Group increased their price objective on Terex from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Tuesday, February 26th. Finally, Bank of America set a $33.00 price objective on Terex and gave the company a “sell” rating in a report on Thursday, February 28th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $36.33.

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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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Want to see what other hedge funds are holding TEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Terex Co. (NYSE:TEX).

Institutional Ownership by Quarter for Terex (NYSE:TEX)

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