Terex (NYSE:TEX) Sets New 12-Month Low - Here's Why

Terex Co. (NYSE:TEX - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $44.32 and last traded at $44.61, with a volume of 250228 shares. The stock had previously closed at $46.22.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TEX shares. 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 report on Friday, September 20th. JPMorgan Chase & Co. cut their price target on Terex from $65.00 to $62.00 and set a "neutral" rating on the stock in a research note on Monday, October 14th. Truist Financial lowered their price objective on Terex from $65.00 to $58.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Robert W. Baird cut their target price on Terex from $65.00 to $55.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. Finally, Citigroup lowered their price target on Terex from $60.00 to $57.00 and set a "neutral" rating for the company in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given 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 $58.78.

Terex Stock Performance

The business has a 50-day moving average of $51.21 and a two-hundred day moving average of $53.55. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. The company has a market cap of $2.97 billion, a P/E ratio of 6.50, a P/E/G ratio of 4.00 and a beta of 1.53.

Terex (NYSE:TEX - Get Free Report) last announced 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. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. The firm's quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.75 EPS. On average, sell-side analysts predict that Terex Co. will post 6.07 EPS for the current fiscal year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Friday, November 8th. Terex's dividend payout ratio is presently 9.93%.

Insider Activity at Terex

In other news, CEO Simon Meester sold 9,877 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total transaction of $505,109.78. Following the transaction, the chief executive officer now owns 127,858 shares of the company's stock, valued at approximately $6,538,658.12. The trade was a 7.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David A. Sachs bought 20,000 shares of Terex stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of $49.75 per share, for a total transaction of $995,000.00. Following the completion of the purchase, the director now directly owns 137,500 shares of the company's stock, valued at $6,840,625. This trade represents a 17.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Terex

Several hedge funds have recently made changes to their positions in the business. Greenwich Wealth Management LLC boosted its holdings in shares of Terex by 0.3% in the 3rd quarter. Greenwich Wealth Management LLC now owns 62,371 shares of the industrial products company's stock valued at $3,300,000 after buying an additional 181 shares in the last quarter. Dorsey Wright & Associates boosted its holdings in shares of Terex by 0.3% in the second quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company's stock valued at $3,362,000 after acquiring an additional 186 shares during the period. US Bancorp DE increased its holdings in shares of Terex by 4.0% in the 3rd quarter. US Bancorp DE now owns 5,837 shares of the industrial products company's stock valued at $309,000 after acquiring an additional 227 shares during the period. Lingohr Asset Management GmbH raised its position in Terex by 2.0% in the 3rd quarter. Lingohr Asset Management GmbH now owns 11,516 shares of the industrial products company's stock valued at $607,000 after purchasing an additional 230 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its stake in Terex by 4.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 5,575 shares of the industrial products company's stock worth $295,000 after purchasing an additional 233 shares during the period. Institutional investors and hedge funds own 92.88% of the company's stock.

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.