Tig Advisors Lowers stake in Terex Corporation (TEX)

Terex Corporation (TEX) : Tig Advisors reduced its stake in Terex Corporation by 97.95% during the most recent quarter end. The investment management company now holds a total of 34,523 shares of Terex Corporation which is valued at $814,398 after selling 1,652,226 shares in Terex Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Terex Corporation makes up approximately 0.10% of Tig Advisors’s portfolio.

Other Hedge Funds, Including , Parallax Volatility Advisers added TEX to its portfolio by purchasing 27,206 company shares during the most recent quarter which is valued at $641,790. Terex Corporation makes up approx 0.03% of Parallax Volatility Advisers’s portfolio.Nuveen Asset Management reduced its stake in TEX by selling 20,674 shares or 31.53% in the most recent quarter. The Hedge Fund company now holds 44,899 shares of TEX which is valued at $1,059,167. Terex Corporation makes up approx 0.01% of Nuveen Asset Management’s portfolio.Peak6 Investments reduced its stake in TEX by selling 11,740 shares or 12.76% in the most recent quarter. The Hedge Fund company now holds 80,293 shares of TEX which is valued at $1,894,112. Terex Corporation makes up approx 0.11% of Peak6 Investments’s portfolio. Brown Advisory Inc sold out all of its stake in TEX during the most recent quarter. The investment firm sold 17,710 shares of TEX which is valued $433,010. Equitec Proprietary Markets added TEX to its portfolio by purchasing 14,100 company shares during the most recent quarter which is valued at $313,443. Terex Corporation makes up approx 0.68% of Equitec Proprietary Markets’s portfolio.

Terex Corporation closed down -0.25 points or -1.03% at $24.03 with 8,51,936 shares getting traded on Thursday. Post opening the session at $24.34, the shares hit an intraday low of $23.66 and an intraday high of $24.54 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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. Terex Corporation was Downgraded by Jefferies to ” Hold” on Aug 9, 2016. 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 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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