HM Payson & Co. Trims Stock Position in Terex Corporation (NYSE:TEX)

HM Payson & Co. cut its stake in Terex Corporation (NYSE:TEX - Free Report) by 79.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,585 shares of the industrial products company's stock after selling 6,282 shares during the quarter. HM Payson & Co.'s holdings in Terex were worth $60,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC raised its holdings in shares of Terex by 17.0% in the fourth quarter. FMR LLC now owns 8,782,287 shares of the industrial products company's stock worth $405,917,000 after buying an additional 1,272,920 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Terex by 94.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,150,673 shares of the industrial products company's stock valued at $99,404,000 after purchasing an additional 1,046,600 shares during the last quarter. First Trust Advisors LP grew its stake in Terex by 43.2% during the 4th quarter. First Trust Advisors LP now owns 1,930,923 shares of the industrial products company's stock valued at $89,247,000 after purchasing an additional 582,819 shares during the last quarter. American Century Companies Inc. grew its stake in Terex by 8.4% during the 4th quarter. American Century Companies Inc. now owns 1,741,206 shares of the industrial products company's stock valued at $80,479,000 after purchasing an additional 135,286 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Terex during the 4th quarter valued at about $59,179,000. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Terex Price Performance

Shares of TEX stock traded down $1.34 on Friday, reaching $52.06. 1,075,108 shares of the company were exchanged, compared to its average volume of 927,031. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 5.56 and a beta of 1.58. The business has a 50-day moving average price of $46.47 and a 200 day moving average price of $43.26. Terex Corporation has a 1 year low of $31.53 and a 1 year high of $68.08. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.07 and a current ratio of 2.11.

Terex (NYSE:TEX - Get Free Report) last released its earnings results on Friday, May 2nd. The industrial products company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.26. Terex had a return on equity of 18.79% and a net margin of 4.89%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the business posted $1.60 earnings per share. The business's quarterly revenue was down 4.9% compared to the same quarter last year. Equities research analysts forecast that Terex Corporation will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Friday, June 6th. Terex's dividend payout ratio (DPR) is 18.53%.

Wall Street Analyst Weigh In

Several research firms have weighed in on TEX. Robert W. Baird upgraded Terex from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $48.00 to $66.00 in a research note on Tuesday, May 13th. Evercore ISI raised their price target on shares of Terex from $59.00 to $62.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. The Goldman Sachs Group raised shares of Terex from a "neutral" rating to a "buy" rating and raised their price target for the stock from $45.00 to $60.00 in a research report on Tuesday, May 27th. JPMorgan Chase & Co. upped their price target on shares of Terex from $43.00 to $50.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Finally, UBS Group upped their price target on shares of Terex from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $51.80.

Insiders Place Their Bets

In other Terex news, insider Joshua Gross sold 5,389 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $40.75, for a total value of $219,601.75. Following the completion of the sale, the insider directly owned 38,755 shares in the company, valued at $1,579,266.25. This represents a 12.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by company insiders.

About Terex

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.