KLP Kapitalforvaltning AS Invests $610,000 in Terex Co. (NYSE:TEX)

KLP Kapitalforvaltning AS bought a new stake in shares of Terex Co. (NYSE:TEX) in the 4th quarter, Holdings Channel.com reports. The firm bought 13,200 shares of the industrial products company’s stock, valued at approximately $610,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TEX. Cascade Investment Advisors Inc. bought a new stake in shares of Terex during the 4th quarter valued at $1,070,000. Barclays PLC grew its holdings in Terex by 40.2% during the third quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock valued at $6,838,000 after purchasing an additional 37,072 shares during the period. Point72 Asset Management L.P. purchased a new stake in Terex in the third quarter worth about $4,283,000. Citigroup Inc. raised its stake in shares of Terex by 65.6% in the third quarter. Citigroup Inc. now owns 70,443 shares of the industrial products company’s stock worth $3,727,000 after buying an additional 27,896 shares during the period. Finally, Cerity Partners LLC lifted its position in shares of Terex by 331.8% during the 3rd quarter. Cerity Partners LLC now owns 24,725 shares of the industrial products company’s stock valued at $1,308,000 after buying an additional 18,999 shares in the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TEX has been the subject of several analyst reports. Evercore ISI reduced their target price on shares of Terex from $63.00 to $59.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. StockNews.com downgraded shares of Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. The Goldman Sachs Group dropped their target price on shares of Terex from $60.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Barclays cut their price target 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. Finally, JPMorgan Chase & Co. dropped their price objective on Terex from $51.00 to $48.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $54.22.

Insider Buying and Selling

In related news, Director Andra Rush purchased 1,325 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the transaction, the director now owns 23,308 shares in the company, valued at approximately $861,463.68. The trade was a 6.03 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.

Terex Stock Up 5.4 %

TEX opened at $40.11 on Thursday. The company has a market capitalization of $2.66 billion, a PE ratio of 8.09, a price-to-earnings-growth ratio of 4.53 and a beta of 1.56. The firm has a 50-day simple moving average of $42.88 and a two-hundred day simple moving average of $48.27. 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 announced its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, beating 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 last year, the firm earned $1.88 earnings per share. Analysts forecast that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.70%. The ex-dividend date was Friday, March 7th. Terex’s dividend payout ratio is presently 13.71%.

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.