GSA Capital Partners LLP bought a new stake in shares of Terex Co. (NYSE:TEX - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 15,195 shares of the industrial products company's stock, valued at approximately $979,000.
Several other institutional investors have also made changes to their positions in TEX. Norges Bank acquired a new stake in Terex in the fourth quarter valued at $42,606,000. Greenhaven Associates Inc. lifted its stake in Terex by 101.5% in the fourth quarter. Greenhaven Associates Inc. now owns 1,456,700 shares of the industrial products company's stock valued at $83,702,000 after acquiring an additional 733,690 shares during the last quarter. American Century Companies Inc. lifted its stake in Terex by 94.6% in the third quarter. American Century Companies Inc. now owns 542,048 shares of the industrial products company's stock valued at $31,233,000 after acquiring an additional 263,435 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Terex by 356.0% in the fourth quarter. Allianz Asset Management GmbH now owns 207,155 shares of the industrial products company's stock valued at $11,903,000 after acquiring an additional 161,729 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Terex by 42.6% in the fourth quarter. First Trust Advisors LP now owns 520,820 shares of the industrial products company's stock valued at $29,926,000 after acquiring an additional 155,706 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have recently weighed in on TEX. Truist Financial dropped their price objective on shares of Terex from $73.00 to $68.00 and set a "buy" rating on the stock in a research report on Tuesday, July 2nd. Jefferies Financial Group dropped their price objective on shares of Terex from $68.00 to $55.00 and set a "hold" rating on the stock in a research report on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of Terex from $63.00 to $59.00 and set a "neutral" rating on the stock in a research report on Wednesday. UBS Group increased their price objective on shares of Terex from $62.00 to $64.00 and gave the company a "neutral" rating in a research report on Tuesday, May 21st. Finally, Citigroup began coverage on shares of Terex in a research report on Wednesday, June 26th. They issued a "neutral" rating and a $60.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $63.67.
Read Our Latest Stock Analysis on TEX
Insiders Place Their Bets
In other Terex news, VP Scott Posner sold 12,500 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $60.48, for a total transaction of $756,000.00. Following the completion of the transaction, the vice president now owns 58,224 shares in the company, valued at $3,521,387.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Scott Posner sold 12,500 shares of the firm's stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $60.48, for a total value of $756,000.00. Following the sale, the vice president now directly owns 58,224 shares of the company's stock, valued at $3,521,387.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Stephen Johnston sold 3,239 shares of the firm's stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $62.00, for a total transaction of $200,818.00. Following the completion of the sale, the chief accounting officer now directly owns 14,606 shares in the company, valued at $905,572. The disclosure for this sale can be found here. Insiders have sold 32,929 shares of company stock valued at $1,958,307 in the last three months. 1.90% of the stock is currently owned by insiders.
Terex Trading Up 4.2 %
Shares of NYSE:TEX traded up $2.19 during mid-day trading on Thursday, hitting $54.30. The company had a trading volume of 959,978 shares, compared to its average volume of 759,675. The firm has a fifty day moving average price of $57.05 and a 200 day moving average price of $58.57. The company has a market capitalization of $3.65 billion, a PE ratio of 7.19 and a beta of 1.57. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.16 and a quick ratio of 1.06. Terex Co. has a one year low of $43.70 and a one year high of $65.89.
Terex (NYSE:TEX - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.23. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.23 billion. Terex had a net margin of 9.87% and a return on equity of 30.53%. As a group, research analysts forecast that Terex Co. will post 7.09 EPS for the current year.
Terex Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, June 6th. Terex's dividend payout ratio is 9.01%.
Terex Company Profile
(
Free Report)
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.
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