Raymond James Financial Inc. Acquires New Shares in Terex Co. (NYSE:TEX)

Raymond James Financial Inc. acquired a new position in shares of Terex Co. (NYSE:TEX - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 49,558 shares of the industrial products company's stock, valued at approximately $2,291,000. Raymond James Financial Inc. owned about 0.07% of Terex as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TEX. Citigroup Inc. raised its holdings in Terex by 65.6% in the third quarter. Citigroup Inc. now owns 70,443 shares of the industrial products company's stock valued at $3,727,000 after buying an additional 27,896 shares during the period. Cerity Partners LLC increased its position in shares of Terex by 331.8% in the third quarter. Cerity Partners LLC now owns 24,725 shares of the industrial products company's stock worth $1,308,000 after acquiring an additional 18,999 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Terex in the third quarter worth $293,000. BNP Paribas Financial Markets raised its stake in shares of Terex by 60.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 22,808 shares of the industrial products company's stock valued at $1,207,000 after acquiring an additional 8,579 shares during the period. Finally, Townsquare Capital LLC acquired a new position in shares of Terex during the 3rd quarter valued at $225,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Terex Stock Down 10.4 %

Shares of NYSE:TEX traded down $4.17 during midday trading on Thursday, reaching $35.85. The company had a trading volume of 1,668,443 shares, compared to its average volume of 878,036. The stock has a market capitalization of $2.38 billion, a P/E ratio of 7.23, a PEG ratio of 4.53 and a beta of 1.56. The stock's fifty day moving average price is $42.61 and its 200-day moving average price is $48.19. 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 Co. has a one year low of $35.56 and a one year high of $68.08.

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Terex (NYSE:TEX - Get Free Report) last released 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 net margin of 6.54% and a return on equity of 21.99%. During the same period in the prior year, the company posted $1.88 earnings per share. Equities research analysts expect that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Friday, March 7th. Terex's dividend payout ratio is presently 13.71%.

Insider Transactions at Terex

In other Terex news, Director Andra Rush purchased 1,325 shares of Terex stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on TEX shares. Truist Financial cut their price objective on Terex from $65.00 to $58.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Evercore ISI dropped their target price on Terex from $63.00 to $59.00 and set an "outperform" rating on the stock in a report on Wednesday, February 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 report on Wednesday, March 19th. Barclays lowered their price objective on shares of Terex from $60.00 to $52.00 and set an "equal weight" rating for the company in a research report on Monday, February 10th. Finally, Citigroup reduced their target price on shares of Terex from $48.00 to $45.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $54.22.

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.