Cibc World Markets Corp Takes $288,000 Position in Terex Co. (NYSE:TEX)

Cibc World Markets Corp acquired a new stake in shares of Terex Co. (NYSE:TEX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,236 shares of the industrial products company's stock, valued at approximately $288,000.

A number of other institutional investors also recently modified their holdings of TEX. Jones Financial Companies Lllp purchased a new stake in Terex in the fourth quarter worth about $31,000. Smartleaf Asset Management LLC grew its holdings in Terex by 46.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company's stock worth $32,000 after purchasing an additional 222 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Terex during the third quarter valued at approximately $40,000. Truvestments Capital LLC purchased a new position in shares of Terex during the third quarter valued at approximately $41,000. Finally, VisionPoint Advisory Group LLC bought a new stake in shares of Terex in the 4th quarter worth approximately $51,000. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. StockNews.com lowered Terex from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. Citigroup reduced their price target on Terex from $48.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Barclays dropped their price target on shares of Terex from $60.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Monday, February 10th. The Goldman Sachs Group reduced their price objective on shares of Terex from $60.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Finally, Truist Financial dropped their target price on shares of Terex from $65.00 to $58.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $54.22.

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Terex Stock Performance

TEX stock traded down $1.61 on Friday, hitting $38.47. The company had a trading volume of 777,588 shares, compared to its average volume of 867,996. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 7.76, a P/E/G ratio of 4.53 and a beta of 1.56. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41. The stock's 50-day simple moving average is $43.45 and its 200 day simple moving average is $48.53. Terex Co. has a 12-month low of $36.15 and a 12-month high of $68.08.

Terex (NYSE:TEX - Get Free Report) last announced its earnings results 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 return on equity of 21.99% and a net margin of 6.54%. During the same period in the previous year, the business earned $1.88 EPS. As a group, equities research analysts expect that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were issued 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 1.77%. Terex's dividend payout ratio is currently 13.71%.

Insider Buying and Selling at Terex

In other news, Director Andra Rush purchased 1,325 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the transaction, the director now directly owns 23,308 shares in the company, valued at $861,463.68. This trade represents a 6.03 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

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.