KLP Kapitalforvaltning AS Invests $610,000 in Terex Co. (NYSE:TEX)

KLP Kapitalforvaltning AS purchased a new position in Terex Co. (NYSE:TEX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 13,200 shares of the industrial products company's stock, valued at approximately $610,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Jones Financial Companies Lllp bought a new stake in shares of Terex during the 4th quarter valued at $31,000. Smartleaf Asset Management LLC lifted its position in shares of Terex by 46.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Terex during the third quarter worth about $40,000. VisionPoint Advisory Group LLC bought a new stake in Terex during the 4th quarter valued at approximately $51,000. Finally, Blue Trust Inc. lifted its holdings in Terex by 26.8% in the 4th quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company's stock worth $57,000 after purchasing an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company's stock.

Insider Activity

In related news, Director Andra Rush acquired 1,325 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the acquisition, the director now owns 23,308 shares in the company, valued at $861,463.68. The trade was a 6.03 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.90% of the company's stock.

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Analyst Ratings Changes

A number of analysts have issued reports on TEX shares. Evercore ISI reduced their price target on shares of Terex from $63.00 to $59.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. StockNews.com lowered Terex from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. decreased their price objective on Terex from $51.00 to $48.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 18th. Citigroup dropped their target price on Terex from $48.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Finally, Truist Financial lowered their price target on Terex from $65.00 to $58.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $54.22.

Terex Trading Down 4.9 %

Shares of TEX traded down $1.76 during midday trading on Friday, reaching $34.07. The company had a trading volume of 1,936,957 shares, compared to its average volume of 882,973. Terex Co. has a 1-year low of $32.17 and a 1-year high of $68.08. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41. The firm has a 50 day simple moving average of $42.32 and a 200-day simple moving average of $48.06. The stock has a market cap of $2.26 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 4.53 and a beta of 1.40.

Terex (NYSE:TEX - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same quarter in the previous year, the company earned $1.88 earnings per share. Research analysts forecast that Terex Co. will post 4.83 EPS for the current fiscal year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 2.00%. Terex's dividend payout ratio is currently 13.71%.

Terex Profile

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.