Clearbridge Investments LLC Has $17.06 Million Stock Position in Terex Co. (NYSE:TEX)

Clearbridge Investments LLC lifted its stake in Terex Co. (NYSE:TEX - Free Report) by 20.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 369,055 shares of the industrial products company's stock after acquiring an additional 63,854 shares during the quarter. Clearbridge Investments LLC owned approximately 0.55% of Terex worth $17,058,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Orion Portfolio Solutions LLC increased its position in Terex by 107.1% in the 4th quarter. Orion Portfolio Solutions LLC now owns 8,509 shares of the industrial products company's stock worth $393,000 after purchasing an additional 4,400 shares during the last quarter. Norges Bank bought a new stake in shares of Terex in the 4th quarter valued at approximately $35,001,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in Terex in the fourth quarter worth approximately $784,000. NEOS Investment Management LLC raised its position in Terex by 22.9% during the fourth quarter. NEOS Investment Management LLC now owns 61,544 shares of the industrial products company's stock valued at $2,845,000 after acquiring an additional 11,461 shares in the last quarter. Finally, Florida Financial Advisors LLC acquired a new stake in Terex in the fourth quarter valued at approximately $219,000. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TEX has been the topic of several analyst reports. 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. Evercore ISI lowered their target price on shares of Terex from $63.00 to $59.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Truist Financial cut their target price on Terex from $65.00 to $58.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group decreased their price target on Terex from $60.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. cut their price objective on Terex from $51.00 to $48.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $54.22.

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Insider Transactions at Terex

In other news, Director Andra Rush bought 1,325 shares of the business's stock in a transaction that occurred 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 purchase, the director now owns 23,308 shares of the company's stock, valued at $861,463.68. This trade represents a 6.03 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.90% of the stock is owned by insiders.

Terex Stock Performance

Shares of TEX traded down $1.76 during mid-day trading on Friday, hitting $34.07. The company's stock had a trading volume of 1,936,957 shares, compared to its average volume of 882,973. The stock's 50-day moving average is $42.32 and its two-hundred day moving average is $48.06. The firm has a market capitalization 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. 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 Co. has a one year low of $32.17 and a one year high of $68.08.

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 (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 period last year, the business posted $1.88 EPS. As a group, sell-side analysts anticipate that Terex Co. will post 4.83 EPS for the current year.

Terex Dividend Announcement

The company also recently disclosed 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 was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a dividend 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.