Victory Capital Management Inc. Sells 143,057 Shares of Terex Co. (NYSE:TEX)

Victory Capital Management Inc. lessened its holdings in Terex Co. (NYSE:TEX - Free Report) by 15.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 762,478 shares of the industrial products company's stock after selling 143,057 shares during the quarter. Victory Capital Management Inc. owned about 1.14% of Terex worth $40,343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TEX. Blue Trust Inc. grew its stake in shares of Terex by 57.5% in the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company's stock worth $28,000 after buying an additional 187 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Terex by 83.3% in the third quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company's stock worth $39,000 after acquiring an additional 335 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Terex by 74.6% in the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company's stock worth $62,000 after acquiring an additional 504 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Terex during the second quarter valued at $109,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Terex in the 2nd quarter worth about $111,000. Institutional investors own 92.88% of the company's stock.

Terex Stock Performance

TEX stock traded down $0.59 on Friday, hitting $51.98. The company had a trading volume of 475,332 shares, compared to its average volume of 819,855. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. Terex Co. has a 12-month low of $48.11 and a 12-month high of $68.08. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 7.59, a P/E/G ratio of 4.17 and a beta of 1.53. The stock's 50-day simple moving average is $53.23 and its 200 day simple moving average is $55.64.

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

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, November 8th. Terex's payout ratio is currently 9.93%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TEX. The Goldman Sachs Group cut their price objective on shares of Terex from $72.00 to $62.00 and set a "neutral" rating on the stock in a research report on Friday, September 20th. Truist Financial upped their target price on shares of Terex from $62.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. JPMorgan Chase & Co. reduced their price target on shares of Terex from $65.00 to $62.00 and set a "neutral" rating for the company in a research report on Monday, October 14th. Robert W. Baird decreased their price objective on shares of Terex from $65.00 to $55.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Finally, Citigroup lowered their price objective on Terex from $60.00 to $57.00 and set a "neutral" rating on the stock in a research report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $59.56.

Terex Company 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.