Terex Corporation (NYSE:TEX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in Terex Corporation (NYSE:TEX - Free Report) by 4.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 694,556 shares of the industrial products company's stock after selling 30,930 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.05% of Terex worth $26,240,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. grew its position in shares of Terex by 83.0% during the first quarter. UMB Bank n.a. now owns 732 shares of the industrial products company's stock worth $28,000 after purchasing an additional 332 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Terex during the fourth quarter worth about $29,000. Private Trust Co. NA grew its position in shares of Terex by 128.0% during the first quarter. Private Trust Co. NA now owns 773 shares of the industrial products company's stock worth $29,000 after purchasing an additional 434 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Terex during the fourth quarter worth about $31,000. Finally, Fifth Third Bancorp grew its position in shares of Terex by 88.1% during the first quarter. Fifth Third Bancorp now owns 905 shares of the industrial products company's stock worth $34,000 after purchasing an additional 424 shares in the last quarter. Institutional investors own 92.88% of the company's stock.

Insider Activity at Terex

In related news, insider Joshua Gross sold 5,389 shares of the business's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $40.75, for a total transaction of $219,601.75. Following the transaction, the insider directly owned 38,755 shares in the company, valued at $1,579,266.25. The trade was a 12.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.90% of the company's stock.

Terex Trading Down 2.3%

Shares of TEX stock traded down $1.16 on Friday, reaching $49.42. 579,682 shares of the company's stock were exchanged, compared to its average volume of 914,584. The company has a current ratio of 2.11, a quick ratio of 1.07 and a debt-to-equity ratio of 1.40. The company's fifty day simple moving average is $47.46 and its 200 day simple moving average is $43.40. The stock has a market capitalization of $3.28 billion, a PE ratio of 13.47, a P/E/G ratio of 5.13 and a beta of 1.58. Terex Corporation has a 52 week low of $31.53 and a 52 week high of $68.08.

Terex (NYSE:TEX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 in the prior year, the company earned $1.60 EPS. The business's revenue was down 4.9% compared to the same quarter last year. As a group, analysts forecast that Terex Corporation will post 4.83 EPS for the current year.

Terex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Monday, August 11th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Monday, August 11th. Terex's payout ratio is 18.53%.

Analysts Set New Price Targets

Several research firms have weighed in on TEX. Evercore ISI raised their price target on Terex from $59.00 to $62.00 and gave the company an "outperform" rating in a report on Monday, May 19th. UBS Group raised their price target on Terex from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Thursday, July 10th. The Goldman Sachs Group upgraded Terex from a "neutral" rating to a "buy" rating and raised their price target for the company from $45.00 to $60.00 in a report on Tuesday, May 27th. Morgan Stanley dropped their target price on Terex from $43.00 to $30.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Citigroup dropped their target price on Terex from $45.00 to $36.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Six 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.44.

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.