Terex Co. (NYSE:TEX) Position Trimmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in Terex Co. (NYSE:TEX - Free Report) by 15.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 427,985 shares of the industrial products company's stock after selling 75,669 shares during the period. JPMorgan Chase & Co. owned 0.64% of Terex worth $19,781,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TEX. American Century Companies Inc. grew its stake in shares of Terex by 8.4% in the 4th quarter. American Century Companies Inc. now owns 1,741,206 shares of the industrial products company's stock valued at $80,479,000 after purchasing an additional 135,286 shares during the last quarter. Regents Gate Capital LLP purchased a new stake in Terex during the fourth quarter worth about $5,561,000. Bank of New York Mellon Corp increased its holdings in Terex by 7.9% during the 4th quarter. Bank of New York Mellon Corp now owns 725,486 shares of the industrial products company's stock valued at $33,532,000 after acquiring an additional 52,885 shares in the last quarter. Curated Wealth Partners LLC raised its position in Terex by 28.3% during the fourth quarter. Curated Wealth Partners LLC now owns 226,922 shares of the industrial products company's stock worth $10,488,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Terex in the fourth quarter valued at approximately $2,291,000. Institutional investors and hedge funds own 92.88% of the company's stock.

Insider Activity at Terex

In related news, Director Andra Rush acquired 1,325 shares of Terex stock in a transaction dated 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 purchase, the director now directly owns 23,308 shares in the company, valued at $861,463.68. The trade was a 6.03 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.90% of the company's stock.

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Terex Stock Down 1.6 %

NYSE:TEX traded down $0.57 during mid-day trading on Wednesday, reaching $34.01. The stock had a trading volume of 61,055 shares, compared to its average volume of 900,924. The stock's 50 day simple moving average is $39.95 and its two-hundred day simple moving average is $46.88. Terex Co. has a 1-year low of $31.53 and a 1-year high of $68.08. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 6.85, a price-to-earnings-growth ratio of 4.53 and a beta of 1.40. 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 posted its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating 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 quarter last year, the company posted $1.88 EPS. Equities analysts anticipate that Terex Co. will post 4.83 EPS for the current year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, March 7th. Terex's dividend payout ratio is currently 13.71%.

Wall Street Analyst Weigh In

TEX has been the subject of several recent research reports. The Goldman Sachs Group dropped their price target on Terex from $60.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Citigroup lowered their price objective on shares of Terex from $45.00 to $36.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Evercore ISI dropped their target price on shares of Terex from $63.00 to $59.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. cut their price objective on Terex from $48.00 to $38.00 and set a "neutral" rating on the stock in a research report on Monday. Finally, Truist Financial dropped their target price on Terex from $58.00 to $47.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $47.33.

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.