Fmr LLC Sells 718,946 Shares of Terex Co. (NYSE:TEX)

FMR LLC lessened its stake in Terex Co. (NYSE:TEX - Free Report) by 8.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,509,367 shares of the industrial products company's stock after selling 718,946 shares during the quarter. FMR LLC owned 11.24% of Terex worth $397,321,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in shares of Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 187 shares in the last quarter. GAMMA Investing LLC grew its stake in Terex by 83.3% in the third quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 335 shares in the last quarter. Truvestments Capital LLC acquired a new position in Terex in the 3rd quarter worth about $41,000. Farther Finance Advisors LLC raised its stake in shares of Terex by 74.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company's stock worth $62,000 after purchasing an additional 504 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Terex during the 2nd quarter valued at about $109,000. Institutional investors and hedge funds own 92.88% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on TEX shares. Truist Financial raised their price objective on shares of Terex from $62.00 to $65.00 and gave the company a "buy" rating in a research report on Monday, November 4th. The Goldman Sachs Group reduced their price objective on shares of Terex from $72.00 to $62.00 and set a "neutral" rating for the company in a research note on Friday, September 20th. Robert W. Baird decreased their price objective on shares of Terex from $65.00 to $55.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Evercore ISI cut their target price on Terex from $67.00 to $59.00 and set an "outperform" rating on the stock in a report on Monday, August 19th. Finally, Citigroup decreased their price target on Terex from $60.00 to $57.00 and set a "neutral" rating for the company in a research note on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $59.56.

Terex Stock Performance

NYSE TEX traded up $0.52 during trading on Friday, hitting $54.79. The company's stock had a trading volume of 333,683 shares, compared to its average volume of 809,162. Terex Co. has a 52 week low of $48.11 and a 52 week high of $68.08. The firm has a 50 day moving average price of $53.50 and a 200 day moving average price of $55.26. The firm has a market cap of $3.66 billion, a P/E ratio of 8.00, a price-to-earnings-growth ratio of 4.38 and a beta of 1.53. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

Terex (NYSE:TEX - Get Free Report) last released its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.15. Terex had a return on equity of 24.92% and a net margin of 9.08%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business earned $1.75 earnings per share. The firm's revenue for the quarter was down 6.0% compared to the same quarter last year. Equities research analysts forecast that Terex Co. will post 6.07 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.24%. The ex-dividend date is Friday, November 8th. Terex's dividend payout ratio is 9.93%.

About Terex

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.