Earnings Approximations to Watch: Terex Corporation (TEX), ON Semiconductor Corporation (ON)

The firm owned 209,789 shares of the company's stock after selling 1,659 shares during the period. Finally, Zacks Investment Research raised shares of Terex Corporation from a "hold" rating to a "buy" rating and set a $51.00 price target for the company in a research report on Wednesday, October 11th.

Large investors have recently made changes to their positions in the stock.

The top 5 institutional holders, in ascending order, are as follows: BLACKROCK INC. with 7.95 million shares, VANGUARD GROUP INC with 7.61 million shares, DIMENSIONAL FUND ADVISORS LP with 5.8 million shares, MORGAN STANLEY with 5.13 million shares, and PZENA INVESTMENT MANAGEMENT LLC with 4.52 million shares.

It can be helpful for any investor to check out what portion of a company's total shares outstanding are now owned by institutional investors. Sei Investments Co. raised its stake in Terex Corporation by 19.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,759,927 shares of the industrial products company's stock worth $65,999,000 after purchasing an additional 1,624,263 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Terex Corporation during the third quarter worth $608,000.

At the moment, the top institutional investor at Terex Corporation (TEX) is BLACKROCK INC., which now holds 7,951,039 shares.

TRADEMARK VIOLATION NOTICE: "The Manufacturers Life Insurance Company Sells 9,326 Shares of Terex Corporation (NYSE:TEX)" was published by Week Herald and is the property of of Week Herald. If you are reading this news story on another publication, it was illegally stolen and republished in violation of United States & worldwide copyright & trademark law. At the moment, Terex Corporation (TEX) has billion shares outstanding. BMO Capital Markets restated a "hold" rating and issued a $35.00 price objective on shares of Terex Corporation in a report on Thursday, July 20th. Bank of America Corporation reduced their target price on shares of Terex Corporation from $42.00 to $40.00 and set an "underperform" rating for the company in a research note on Wednesday, November 8th. TheStreet upgraded shares of Terex Corporation from a "c" rating to a "b" rating in a report on Tuesday, August 1st. Finally, Royal Bank Of Canada restated a "hold" rating and issued a $38.00 target price on shares of Terex Corporation in a research note on Wednesday, September 13th. Analysts have a mean recommendation of 2.60 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). The stock now has a consensus rating of "Hold" and a consensus target price of $41.43.

Terex Corporation (NYSE:TEX) last posted its quarterly earnings data on Wednesday, August 2nd. The volume of TEX witnessed a shift from 1.4 million shares, based on a 50-day average, to 1.22 million shares. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.53 and a current ratio of 2.42.

Terex Corporation has a beta of 2.06, offering the possibility of a higher rate of return, but also posing more risk. The industrial products company reported $0.50 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.36 by $0.14. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. Terex Corporation had a return on equity of 7.39% and a net margin of 2.01%. Terex Corporation's quarterly revenue was down 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 EPS. Investors of record on Thursday, November 9th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.72%. Terex Corporation's dividend payout ratio (DPR) is presently -50.79%.

Terex Corporation declared that its Board of Directors has approved a stock buyback program on Wednesday, September 6th that authorizes the company to buyback $225.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 6.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

In other Terex Corporation news, insider Matthew Fearon sold 13,000 shares of Terex Corporation stock in a transaction on Friday, August 18th. The stock was sold at an average price of $38.00, for a total transaction of $494,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David A. Sachs bought 3,000 shares of the company's stock in a transaction that occurred on Friday, August 18th. Of those transactions, there were 818,456 shares of TEX bought and 706,092 shares sold. The disclosure for this purchase can be found here. Insiders own 2.50% of the company's stock.

Terex Corporation is a lifting and material handling solutions company.