(TEX) Downgraded to Underperform at Bank of America Corp

Cornelia Mascio
Mag 28, 2017

The stock of Terex Corporation (NYSE:TEX) earned "Hold" rating by Jefferies on Tuesday, August 9.

05/04/2017 - Terex Corporation had its "neutral" rating reiterated by analysts at Seaport Global Securities.

A number of other analysts have also weighed in on the stock. Credit Suisse Group AG set a $38.00 price target on Terex and gave the stock a "buy" rating in a report on Saturday, February 25th. Deutsche Bank AG upgraded Terex from a "hold" rating to a "buy" rating and lifted their price target for the company from $36.00 to $37.00 in a report on Monday, February 27th.

On Friday, March 17th, Kevin Bradley sold 15,000 shares of Terex stock. Deutsche Bank downgraded the stock to "Hold" rating in Thursday, December 17 report. Bank of America Corp downgraded Terex from a "buy" rating to a "neutral" rating and set a $35.00 target price for the company.in a report on Friday, April 28th.

Among 20 analysts covering Terex Corporation (NYSE:TEX), 7 have Buy rating, 3 Sell and 10 Hold. Terex presently has a consensus rating of "Hold" and an average target price of $32.44.

Terex (NYSE:TEX) traded up 0.30% during midday trading on Friday, hitting $32.91. The firm has a 50-day moving average price of $32.86 and a 200-day moving average price of $31.17. Terex Co. The firm's market capitalization is $3.20 billion. CLSA downgraded Terex Corporation (NYSE:TEX) on Friday, November 18 to "Underperform" rating. Nuveen Asset Mgmt Ltd Com reported 0.01% of its portfolio in Terex Corporation (NYSE:TEX). AlphaOne also gave media headlines about the industrial products company an impact score of 85 out of 100, meaning that recent media coverage is very likely to have an effect on the company's share price in the immediate future. On Thursday, May 4 BARR KEVIN A bought $231 worth of Terex Corporation (NYSE:TEX) or 7 shares. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $926.31 million. Equities research analysts forecast that Terex Co. will post $0.92 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Monday, June 19th. Shareholders of record on Friday, June 9th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Wednesday, June 7th. Terex's payout ratio is now 28.57%. The stock was sold at an average price of $31.00, for a total value of $155,000.00. Following the transaction, the senior vice president now directly owns 124,518 shares in the company, valued at approximately $3,881,226.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The stock was sold at an average price of $33.70, for a total value of $168,500.00. Following the transaction, the director now owns 46,691 shares in the company, valued at $1,400,730. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 759 shares of company stock valued at $24,651 and sold 87,395 shares valued at $2,787,477.

Hedge funds and other institutional investors own 84.32% of the company's stock. Pzena Investment Management LLC increased its position in shares of Terex by 1.8% in the third quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company's stock worth $175,000 after buying an additional 403 shares during the last quarter. Norges Bank bought a new stake in shares of Terex during the fourth quarter worth about $34,781,000. Sei Investments Co. now owns 5,284 shares of the industrial products company's stock worth $135,000 after buying an additional 1,701 shares during the last quarter.

Benchmark Capital Advisors lowered its position in shares of Terex Co. Bank of New York Mellon Corp increased its position in shares of Terex by 2.3% in the first quarter. Finally, California State Teachers Retirement System raised its position in shares of Terex by 0.9% in the third quarter. Dimensional Fund Advisors LP now owns 6,444,169 shares of the industrial products company's stock worth $202,346,000 after buying an additional 943,237 shares during the period.

Terex Corporation is a manufacturer of lifting and material processing services and products that deliver lifecycle solutions. The Firm has three business divisions: Aerial Work Platforms, Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries.

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