Schneider Capital Management Corp Lowers stake in Terex Corporation (TEX)

Terex Corporation (TEX) : Schneider Capital Management Corp reduced its stake in Terex Corporation by 13.01% during the most recent quarter end. The investment management company now holds a total of 795,121 shares of Terex Corporation which is valued at $22,398,559 after selling 118,937 shares in Terex Corporation , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Terex Corporation makes up approximately 3.46% of Schneider Capital Management Corp’s portfolio.

Other Hedge Funds, Including , Front Street Capital Management reduced its stake in TEX by selling 13,890 shares or 4.86% in the most recent quarter. The Hedge Fund company now holds 271,912 shares of TEX which is valued at $7,659,761. Terex Corporation makes up approx 3.48% of Front Street Capital Management’s portfolio. Nomura Asset Management Co Ltd sold out all of its stake in TEX during the most recent quarter. The investment firm sold 3,070 shares of TEX which is valued $84,886.Rhumbline Advisers boosted its stake in TEX in the latest quarter, The investment management firm added 24,688 additional shares and now holds a total of 286,991 shares of Terex Corporation which is valued at $6,772,988. Terex Corporation makes up approx 0.02% of Rhumbline Advisers’s portfolio. Deprince Race Zollo Inc added TEX to its portfolio by purchasing 1,227,163 company shares during the most recent quarter which is valued at $27,647,982. Terex Corporation makes up approx 0.61% of Deprince Race Zollo Inc’s portfolio.Howe Rusling Inc reduced its stake in TEX by selling 230 shares or 37.16% in the most recent quarter. The Hedge Fund company now holds 389 shares of TEX which is valued at $9,779.

Terex Corporation closed down -0.18 points or -0.63% at $28.54 with 15,33,893 shares getting traded on Monday. Post opening the session at $28.46, the shares hit an intraday low of $27.77 and an intraday high of $28.7 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Terex Corporation reported $0.19 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Oct 31, 2016. Analyst had a consensus of $0.22. The company had revenue of $1056.40 million for the quarter, compared to analysts expectations of $1062.39 million. The company’s revenue was down -15.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.44 EPS.

Many Wall Street Analysts have commented on Terex Corporation. Terex Corporation was Downgraded by CLSA to ” Underperform” on Nov 18, 2016. Barclays Downgraded Terex Corporation on Oct 24, 2016 to ” Underweight”, Price Target of the shares are set at $20.Terex Corporation was Upgraded by BofA/Merrill to ” Buy” on Oct 14, 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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