Lazard Asset Management LLC Sells 63,883 Shares of Terex Co. (NYSE:TEX)

Lazard Asset Management LLC trimmed its position in Terex Co. (NYSE:TEX - Free Report) by 76.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,283 shares of the industrial products company's stock after selling 63,883 shares during the period. Lazard Asset Management LLC's holdings in Terex were worth $890,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TEX. Smartleaf Asset Management LLC boosted its holdings in shares of Terex by 46.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company's stock valued at $32,000 after buying an additional 222 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Terex by 0.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 36,671 shares of the industrial products company's stock worth $1,695,000 after purchasing an additional 237 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Terex by 26.8% in the 4th quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company's stock valued at $57,000 after buying an additional 260 shares during the last quarter. Barnett & Company Inc. grew its position in shares of Terex by 4.3% in the 4th quarter. Barnett & Company Inc. now owns 7,300 shares of the industrial products company's stock valued at $337,000 after acquiring an additional 300 shares during the period. Finally, New York State Teachers Retirement System grew its holdings in Terex by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 83,035 shares of the industrial products company's stock worth $3,838,000 after purchasing an additional 320 shares during the period. Institutional investors and hedge funds own 92.88% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TEX shares. Citigroup decreased their target price on Terex from $45.00 to $36.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen upgraded Terex from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Evercore ISI raised their target price on shares of Terex from $59.00 to $62.00 and gave the company an "outperform" rating in a report on Monday, May 19th. UBS Group raised shares of Terex from a "sell" rating to a "neutral" rating and upped their price target for the stock from $34.00 to $48.00 in a report on Friday, May 16th. Finally, Morgan Stanley decreased their price objective on shares of Terex from $43.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $49.40.

Terex Stock Down 2.7%

Shares of NYSE TEX traded down $1.23 during midday trading on Monday, hitting $44.61. 648,265 shares of the stock traded hands, compared to its average volume of 922,692. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16. The business has a 50 day moving average price of $38.92 and a two-hundred day moving average price of $44.13. Terex Co. has a one year low of $31.53 and a one year high of $68.08. The company has a market cap of $2.96 billion, a PE ratio of 8.99, a P/E/G ratio of 4.53 and a beta of 1.52.

Terex (NYSE:TEX - Get Free Report) last announced its earnings results on Friday, May 2nd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.26. The company had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.26 billion. Terex had a return on equity of 21.99% and a net margin of 6.54%. Terex's quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 earnings per share. On average, equities analysts predict that Terex Co. will post 4.83 EPS for the current year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Friday, June 6th. Terex's dividend payout ratio is presently 18.53%.

Insider Transactions at Terex

In other news, Director Andra Rush acquired 1,325 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $36.96 per share, with a total value of $48,972.00. Following the acquisition, the director now owns 23,308 shares in the company, valued at $861,463.68. The trade was a 6.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joshua Gross sold 5,389 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $40.75, for a total transaction of $219,601.75. Following the sale, the insider now directly owns 38,755 shares in the company, valued at approximately $1,579,266.25. This trade represents a 12.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.90% of the company's stock.

Terex Company Profile

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.