Terex (NYSE:TEX) Trading Down 4.8% - Should You Sell?

Shares of Terex Co. (NYSE:TEX - Get Free Report) were down 4.8% on Wednesday . The company traded as low as $51.61 and last traded at $51.63. Approximately 505,440 shares changed hands during trading, a decline of 38% from the average daily volume of 819,619 shares. The stock had previously closed at $54.26.

Wall Street Analyst Weigh In

TEX has been the subject of several research reports. JPMorgan Chase & Co. dropped their target price on Terex from $65.00 to $62.00 and set a "neutral" rating for the company in a research report on Monday, October 14th. Evercore ISI cut their target price on shares of Terex from $67.00 to $59.00 and set an "outperform" rating on the stock in a research report on Monday, August 19th. Jefferies Financial Group reduced their target price on shares of Terex from $68.00 to $55.00 and set a "hold" rating on the stock in a report on Thursday, July 11th. Robert W. Baird lifted their price target on shares of Terex from $63.00 to $65.00 and gave the stock a "neutral" rating in a report on Wednesday, October 9th. Finally, Truist Financial reduced their price objective on shares of Terex from $63.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, October 9th. 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $60.33.

Terex Stock Down 5.0 %

The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. The stock's 50-day simple moving average is $53.41 and its 200 day simple moving average is $56.20. The firm has a market cap of $3.45 billion, a P/E ratio of 7.07, a PEG ratio of 4.47 and a beta of 1.53.

Terex (NYSE:TEX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.10. Terex had a net margin of 9.55% and a return on equity of 27.89%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the business earned $2.35 earnings per share. The business's quarterly revenue was down 1.5% compared to the same quarter last year. As a group, research analysts forecast that Terex Co. will post 5.89 EPS for the current fiscal year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Friday, November 8th. Terex's dividend payout ratio is currently 9.33%.

Insider Activity at Terex

In other Terex news, Director Andra Rush acquired 2,205 shares of the company's stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of $54.36 per share, with a total value of $119,863.80. Following the completion of the purchase, the director now owns 21,983 shares of the company's stock, valued at approximately $1,194,995.88. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TEX. Greenwich Wealth Management LLC grew its stake in shares of Terex by 0.3% in the 3rd quarter. Greenwich Wealth Management LLC now owns 62,371 shares of the industrial products company's stock worth $3,300,000 after acquiring an additional 181 shares in the last quarter. Dorsey Wright & Associates grew its position in Terex by 0.3% in the 2nd quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company's stock worth $3,362,000 after purchasing an additional 186 shares in the last quarter. Blue Trust Inc. increased its stake in Terex by 57.5% in the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company's stock valued at $28,000 after buying an additional 187 shares during the last quarter. FCG Investment Co lifted its position in shares of Terex by 3.5% during the 2nd quarter. FCG Investment Co now owns 6,534 shares of the industrial products company's stock worth $358,000 after buying an additional 220 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of Terex by 4.0% in the 3rd quarter. US Bancorp DE now owns 5,837 shares of the industrial products company's stock worth $309,000 after buying an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company's stock.

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.