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

M&T Bank Corp reduced its stake in Terex Co. (NYSE:TEXFree Report) by 7.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,760 shares of the industrial products company’s stock after selling 361 shares during the period. M&T Bank Corp’s holdings in Terex were worth $274,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royce & Associates LP purchased a new stake in Terex in the 2nd quarter valued at about $6,763,000. BlackRock Inc. raised its holdings in shares of Terex by 2.3% in the 2nd quarter. BlackRock Inc. now owns 9,052,238 shares of the industrial products company’s stock valued at $541,595,000 after buying an additional 205,591 shares during the period. National Bank of Canada FI purchased a new stake in shares of Terex in the 3rd quarter valued at $919,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Terex in the 2nd quarter valued at $2,955,000. Finally, New York State Teachers Retirement System raised its holdings in shares of Terex by 7.6% in the 2nd quarter. New York State Teachers Retirement System now owns 89,664 shares of the industrial products company’s stock valued at $5,365,000 after buying an additional 6,320 shares during the period. 93.39% of the stock is currently owned by hedge funds and other institutional investors.

Terex Stock Down 0.2 %

Terex stock opened at $62.92 on Wednesday. The company has a 50-day simple moving average of $55.65 and a 200-day simple moving average of $55.73. The firm has a market capitalization of $4.23 billion, a P/E ratio of 8.90, a P/E/G ratio of 0.83 and a beta of 1.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.06 and a current ratio of 2.11. Terex Co. has a one year low of $41.89 and a one year high of $65.64.

Analyst Ratings Changes

Several research firms recently issued reports on TEX. JPMorgan Chase & Co. cut their price objective on Terex from $72.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, October 16th. Jefferies Financial Group lowered Terex from a “buy” rating to a “hold” rating and cut their price objective for the stock from $73.00 to $63.00 in a research report on Wednesday, December 20th. UBS Group cut their price objective on Terex from $75.00 to $61.00 and set a “buy” rating on the stock in a research report on Thursday, November 9th. Bank of America reaffirmed an “underperform” rating and set a $57.00 price objective on shares of Terex in a research report on Friday, January 19th. Finally, StockNews.com lowered Terex from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $61.93.

Check Out Our Latest Stock Report on TEX

Insider Transactions at Terex

In other news, CEO John L. Garrison, Jr. sold 45,000 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $59.00, for a total transaction of $2,655,000.00. Following the completion of the transaction, the chief executive officer now owns 492,121 shares in the company, valued at $29,035,139. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO John L. Garrison, Jr. sold 45,000 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $59.00, for a total value of $2,655,000.00. Following the completion of the transaction, the chief executive officer now owns 492,121 shares of the company’s stock, valued at $29,035,139. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David A. Sachs purchased 25,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was acquired at an average cost of $51.16 per share, with a total value of $1,279,000.00. Following the purchase, the director now owns 62,500 shares of the company’s stock, valued at approximately $3,197,500. The disclosure for this purchase can be found here. Insiders own 2.40% of the company’s stock.

Terex Company Profile

(Free Report)

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Aerial Work Platforms (AWP) and Materials Processing (MP). The AWP segment designs, manufactures, services, and markets aerial work platform equipment, utility equipment, and telehandlers under the Terex and Genie brands.

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Institutional Ownership by Quarter for Terex (NYSE:TEX)

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