44,775 Shares in Terex Co. (NYSE:TEX) Purchased by Ballast Asset Management LP

Ballast Asset Management LP acquired a new position in Terex Co. (NYSE:TEX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 44,775 shares of the industrial products company's stock, valued at approximately $2,070,000. Ballast Asset Management LP owned approximately 0.07% of Terex as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of Terex during the 4th quarter valued at about $35,001,000. American Century Companies Inc. boosted its holdings in Terex by 8.4% in the fourth quarter. American Century Companies Inc. now owns 1,741,206 shares of the industrial products company's stock worth $80,479,000 after purchasing an additional 135,286 shares during the last quarter. Regents Gate Capital LLP purchased a new stake in Terex in the fourth quarter worth approximately $5,561,000. Point72 Asset Management L.P. bought a new stake in Terex in the 3rd quarter worth approximately $4,283,000. Finally, Clearbridge Investments LLC raised its stake in Terex by 20.9% during the 4th quarter. Clearbridge Investments LLC now owns 369,055 shares of the industrial products company's stock valued at $17,058,000 after buying an additional 63,854 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TEX. StockNews.com downgraded Terex from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Citigroup cut their price target on Terex from $48.00 to $45.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. JPMorgan Chase & Co. reduced their price target on shares of Terex from $51.00 to $48.00 and set a "neutral" rating for the company in a research report on Tuesday, March 18th. The Goldman Sachs Group dropped their price objective on shares of Terex from $60.00 to $52.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Finally, Truist Financial reduced their target price on shares of Terex from $65.00 to $58.00 and set a "buy" rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Terex presently has an average rating of "Hold" and a consensus price target of $54.22.

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Insiders Place Their Bets

In related news, Director Andra Rush acquired 1,325 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $36.96 per share, with a total value of $48,972.00. Following the purchase, the director now directly owns 23,308 shares of the company's stock, valued at approximately $861,463.68. This trade represents a 6.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.90% of the company's stock.

Terex Price Performance

Shares of TEX traded down $1.76 during mid-day trading on Friday, reaching $34.07. The stock had a trading volume of 1,936,957 shares, compared to its average volume of 884,305. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 6.87, a PEG ratio of 4.53 and a beta of 1.40. Terex Co. has a 12 month low of $32.17 and a 12 month high of $68.08. The business has a fifty day moving average of $42.32 and a 200 day moving average of $48.00. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16.

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

Terex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were paid 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 dividend yield of 2.00%. Terex's 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.