Terex Co. (NYSE:TEX) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its stake in shares of Terex Co. (NYSE:TEX) by 51.6% during the third quarter, Holdings Channel reports. The firm owned 4,274 shares of the industrial products company’s stock after selling 4,548 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Terex were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. grew its stake in Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after buying an additional 187 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Terex by 83.3% during the third quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 335 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Terex by 74.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 504 shares during the period. International Assets Investment Management LLC bought a new stake in Terex in the 2nd quarter valued at about $109,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Terex during the 2nd quarter valued at about $111,000. Institutional investors own 92.88% of the company’s stock.

Terex Trading Up 0.6 %

Shares of Terex stock opened at $52.29 on Tuesday. Terex Co. has a fifty-two week low of $48.11 and a fifty-two week high of $68.08. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 7.63, a price-to-earnings-growth ratio of 4.20 and a beta of 1.53. The business has a fifty day simple moving average of $53.27 and a 200-day simple moving average of $55.61.

Terex (NYSE:TEX) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. Terex had a return on equity of 24.92% and a net margin of 9.08%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm posted $1.75 EPS. The company’s quarterly revenue was down 6.0% on a year-over-year basis. On average, equities analysts forecast that Terex Co. will post 6.07 EPS for the current fiscal year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, November 8th. Terex’s dividend payout ratio (DPR) is currently 9.93%.

Analysts Set New Price Targets

Several equities research analysts have commented on TEX shares. The Goldman Sachs Group dropped their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. JPMorgan Chase & Co. cut their target price on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Evercore ISI reduced their price target on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Citigroup lowered their price target on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. Finally, Robert W. Baird reduced their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Terex has a consensus rating of “Hold” and an average target price of $59.56.

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.