Stifel Financial Corp Sells 12,621 Shares of Terex Co. (NYSE:TEX)

Stifel Financial Corp lessened its holdings in Terex Co. (NYSE:TEX - Free Report) by 53.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,127 shares of the industrial products company's stock after selling 12,621 shares during the period. Stifel Financial Corp's holdings in Terex were worth $589,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Chartwell Investment Partners LLC purchased a new position in Terex in the 3rd quarter worth approximately $559,000. Edgestream Partners L.P. grew its position in Terex by 181.6% in the second quarter. Edgestream Partners L.P. now owns 68,898 shares of the industrial products company's stock worth $3,778,000 after acquiring an additional 44,432 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Terex in the third quarter worth $615,000. AQR Capital Management LLC increased its stake in Terex by 18.4% in the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company's stock valued at $99,045,000 after acquiring an additional 285,750 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Terex during the third quarter valued at about $4,283,000. Institutional investors own 92.88% of the company's stock.

Insider Activity

In related news, CEO Simon Meester sold 9,877 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total value of $505,109.78. Following the sale, the chief executive officer now owns 127,858 shares in the company, valued at $6,538,658.12. This represents a 7.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David A. Sachs acquired 10,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were bought at an average price of $51.30 per share, with a total value of $513,000.00. Following the purchase, the director now directly owns 107,500 shares of the company's stock, valued at $5,514,750. The trade was a 10.26 % increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by company insiders.

Terex Trading Down 1.2 %

Shares of TEX stock traded down $0.57 during mid-day trading on Friday, reaching $45.23. The stock had a trading volume of 443,543 shares, compared to its average volume of 810,016. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The stock's 50-day moving average price is $51.84 and its two-hundred day moving average price is $53.80. The firm has a market capitalization of $3.02 billion, a PE ratio of 6.60, a price-to-earnings-growth ratio of 4.00 and a beta of 1.53. Terex Co. has a 52-week low of $44.43 and a 52-week high of $68.08.

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

Terex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 8th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Friday, November 8th. Terex's dividend payout ratio is currently 9.93%.

Wall Street Analysts Forecast Growth

TEX has been the topic of several recent research reports. Robert W. Baird reduced their price objective on Terex from $65.00 to $55.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st. Citigroup reduced their price target on shares of Terex from $60.00 to $57.00 and set a "neutral" rating on the stock in a research report on Monday, September 23rd. The Goldman Sachs Group lowered their price objective on shares of Terex from $72.00 to $62.00 and set a "neutral" rating for the company in a report on Friday, September 20th. Truist Financial reduced their target price on shares of Terex from $65.00 to $58.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Terex from $65.00 to $62.00 and set a "neutral" rating for the company in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Terex has an average rating of "Hold" and an average price target of $58.78.

Terex 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.