Community Financial Services Group Lowers stake in Terex Corporation (TEX)

Terex Corporation (TEX) : Community Financial Services Group reduced its stake in Terex Corporation by 3.25% during the most recent quarter end. The investment management company now holds a total of 149,577 shares of Terex Corporation which is valued at $3,525,530 after selling 5,029 shares in Terex Corporation , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Terex Corporation makes up approximately 1.68% of Community Financial Services Group’s portfolio.

Other Hedge Funds, Including , Parkside Financial Bank Trust sold out all of its stake in TEX during the most recent quarter. The investment firm sold 390 shares of TEX which is valued $9,192.Northpointe Capital reduced its stake in TEX by selling 7,127 shares or 8.84% in the most recent quarter. The Hedge Fund company now holds 73,455 shares of TEX which is valued at $1,698,280. Terex Corporation makes up approx 0.19% of Northpointe Capital’s portfolio.Simplex Trading reduced its stake in TEX by selling 64,485 shares or 93.97% in the most recent quarter. The Hedge Fund company now holds 4,137 shares of TEX which is valued at $89,028. Terex Corporation makes up approx 0.01% of Simplex Trading’s portfolio.Capstone Asset Management Co reduced its stake in TEX by selling 1,910 shares or 8.59% in the most recent quarter. The Hedge Fund company now holds 20,338 shares of TEX which is valued at $432,793. Terex Corporation makes up approx 0.01% of Capstone Asset Management Co’s portfolio.

Terex Corporation opened for trading at $24.35 and hit $24.63 on the upside on Monday, eventually ending the session at $24.45, with a gain of 0.08% or 0.02 points. The heightened volatility saw the trading volume jump to 15,61,561 shares. Company has a market cap of $2,650 M.

On the company’s financial health, Terex Corporation reported $-0.05 EPS for the quarter, based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus estimate of $-0.05. The company had revenue of $1426.90 million for the quarter, compared to analysts expectations of $1320.93 million. The company’s revenue was down -4.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.02 EPS.

Many Wall Street Analysts have commented on Terex Corporation. Shares were Reiterated by Barclays on Jul 11, 2016 to “Equal Weight” and Lowered the Price Target to $ 20 from a previous price target of $25 .Terex Corporation was Resumed by BofA/Merrill to “Underperform” on Jul 7, 2016. Terex Corporation was Resumed by Goldman to “Buy” on Jun 8, 2016.

Terex Corporation is a lifting and material handling solutions company. The Company is focused providing its operations and delivering solutions for a range of commercial applications including the construction infrastructure quarrying mining manufacturing transportation energy and utility industries. The Company operates in business segments: Aerial Work Platforms Construction Cranes Material Handling & Port Solutions and Materials Processing. Its products are manufactured in North and South America Europe Australia and Asia and sold across the world. It offers a range of products including portable material lifts telehandlers wheel loaders midi excavators site dumpers tower cranes utility equipment industrial cranes reach stackers washing systems chippers and sprinter carriers among others. Its brands include Terex Genie Demag and Powerscreen.

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