Voloridge Investment Management LLC Has $32.86 Million Position in Terex Co. (NYSE:TEX)

Voloridge Investment Management LLC lowered its position in shares of Terex Co. (NYSE:TEX - Free Report) by 7.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 710,990 shares of the industrial products company's stock after selling 57,979 shares during the period. Voloridge Investment Management LLC owned about 1.06% of Terex worth $32,862,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State of Wyoming purchased a new stake in shares of Terex in the fourth quarter worth approximately $141,000. Tema Etfs LLC bought a new position in Terex during the fourth quarter valued at approximately $2,845,000. ProShare Advisors LLC lifted its stake in shares of Terex by 41.2% in the 4th quarter. ProShare Advisors LLC now owns 21,891 shares of the industrial products company's stock valued at $1,012,000 after acquiring an additional 6,383 shares during the last quarter. Paradoxiom Capital L.P. purchased a new position in Terex during the 4th quarter valued at about $5,862,000. Finally, Nomura Holdings Inc. purchased a new position in Terex during the 4th quarter valued at about $409,000. Institutional investors own 92.88% of the company's stock.

Terex Trading Down 2.7%

Shares of NYSE:TEX traded down $1.23 during trading on Friday, reaching $44.61. 648,265 shares of the company were exchanged, compared to its average volume of 922,692. The firm has a market capitalization of $2.96 billion, a PE ratio of 8.99, a P/E/G ratio of 4.53 and a beta of 1.52. The business's fifty day simple moving average is $38.82 and its 200-day simple moving average is $44.29. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09. Terex Co. has a 12-month low of $31.53 and a 12-month high of $68.08.

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

Terex Dividend Announcement

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

Insider Transactions at Terex

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

Analyst Ratings Changes

A number of brokerages have recently commented on TEX. Evercore ISI boosted their price target on Terex from $59.00 to $62.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Robert W. Baird upgraded Terex from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $48.00 to $66.00 in a research note on Tuesday, May 13th. UBS Group upgraded Terex from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $34.00 to $48.00 in a research note on Friday, May 16th. The Goldman Sachs Group reduced their price objective on Terex from $60.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Finally, Barclays reduced their price objective on Terex from $60.00 to $52.00 and set an "equal weight" rating for the company in a research note on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $49.40.

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.