M&T Bank Corp Raises Stock Holdings in Terex Co. (NYSE:TEX)

M&T Bank Corp raised its position in shares of Terex Co. (NYSE:TEX) by 13.0% during the 4th quarter, Holdings Channel reports. The fund owned 5,923 shares of the industrial products company’s stock after purchasing an additional 682 shares during the period. M&T Bank Corp’s holdings in Terex were worth $274,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp purchased a new stake in shares of Terex during the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC raised its holdings in shares of Terex by 46.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Terex during the 3rd quarter worth approximately $40,000. Truvestments Capital LLC purchased a new stake in shares of Terex during the 3rd quarter worth approximately $41,000. Finally, VisionPoint Advisory Group LLC bought a new position in shares of Terex during the 4th quarter valued at approximately $51,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Terex Stock Performance

Shares of Terex stock opened at $40.37 on Friday. The stock’s fifty day moving average is $44.65 and its two-hundred day moving average is $49.46. The company has a market capitalization of $2.68 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 4.53 and a beta of 1.56. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41. Terex Co. has a 52 week low of $36.15 and a 52 week high of $68.08.

Terex (NYSE:TEX) last posted its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. Terex had a return on equity of 21.99% and a net margin of 6.54%. During the same quarter in the prior year, the business posted $1.88 EPS. As a group, analysts expect that Terex Co. will post 4.83 earnings per share for the current year.

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Friday, March 7th. Terex’s payout ratio is 13.71%.

Insider Transactions at Terex

In related 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 purchased at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the purchase, the director now directly owns 23,308 shares of the company’s stock, valued at $861,463.68. This trade represents a 6.03 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

TEX has been the topic of several analyst reports. Citigroup cut their target price on Terex from $57.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. cut their target price on Terex from $59.00 to $52.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Barclays cut their target price on Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Evercore ISI cut their target price on Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, StockNews.com downgraded Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $56.11.

Terex 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.