IQ EQ FUND MANAGEMENT IRELAND Ltd Makes New Investment in Terex Co. (NYSE:TEX)

IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Terex Co. (NYSE:TEX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 16,969 shares of the industrial products company's stock, valued at approximately $784,000.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings 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 worth $32,000 after purchasing an additional 222 shares during the last quarter. Blue Trust Inc. increased its stake 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 acquiring an additional 260 shares during the last quarter. Barnett & Company Inc. raised its holdings in shares of Terex by 4.3% during the 4th quarter. Barnett & Company Inc. now owns 7,300 shares of the industrial products company's stock worth $337,000 after acquiring an additional 300 shares in the last quarter. New York State Teachers Retirement System boosted its position in shares of Terex by 0.4% during the 4th quarter. New York State Teachers Retirement System now owns 83,035 shares of the industrial products company's stock valued at $3,838,000 after acquiring an additional 320 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of Terex by 2.2% in the fourth quarter. New York State Common Retirement Fund now owns 22,130 shares of the industrial products company's stock valued at $1,023,000 after purchasing an additional 467 shares in the last quarter. 92.88% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com lowered shares of Terex from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. dropped their price target on Terex from $51.00 to $48.00 and set a "neutral" rating for the company in a research report on Tuesday, March 18th. Evercore ISI lowered their price objective on Terex from $63.00 to $59.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. The Goldman Sachs Group cut their target price on Terex from $60.00 to $52.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. 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 analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $54.22.

Insider Activity at Terex

In other news, Director Andra Rush purchased 1,325 shares of the firm's stock in a transaction on 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 completion of the transaction, the director now owns 23,308 shares in the company, valued at $861,463.68. This represents a 6.03 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Terex Trading Down 0.1 %

TEX stock traded down $0.05 during mid-day trading on Tuesday, reaching $37.74. The company had a trading volume of 227,823 shares, compared to its average volume of 865,806. The company has a market capitalization of $2.51 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of 4.53 and a beta of 1.56. The firm has a 50 day moving average of $43.26 and a 200 day moving average of $48.43. Terex Co. has a 12 month low of $36.15 and a 12 month high of $68.08. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09.

Terex (NYSE:TEX - Get Free Report) last issued its 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 previous year, the business posted $1.88 earnings per share. On average, equities analysts predict that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th were paid a dividend of $0.17 per share. 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 1.80%. Terex's dividend payout ratio is presently 13.71%.

Terex Company 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.