Thrivent Financial for Lutherans Cuts Stock Holdings in Terex Co. (NYSE:TEX)

Thrivent Financial for Lutherans lowered its position in shares of Terex Co. (NYSE:TEX - Free Report) by 73.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 15,717 shares of the industrial products company's stock after selling 43,512 shares during the quarter. Thrivent Financial for Lutherans' holdings in Terex were worth $832,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Greenwich Wealth Management LLC raised its stake in shares of Terex by 0.3% during 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 during the last quarter. Dorsey Wright & Associates raised its stake in shares of Terex by 0.3% during the 2nd quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company's stock valued at $3,362,000 after buying an additional 186 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company's stock valued at $28,000 after buying an additional 187 shares during the last quarter. FCG Investment Co raised its stake in shares of Terex by 3.5% during the 2nd quarter. FCG Investment Co now owns 6,534 shares of the industrial products company's stock valued at $358,000 after buying an additional 220 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Terex by 4.0% during the 3rd quarter. US Bancorp DE now owns 5,837 shares of the industrial products company's stock valued at $309,000 after buying an additional 227 shares during the last quarter. Institutional investors and hedge funds own 92.88% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TEX shares. Citigroup cut their price target on Terex from $60.00 to $57.00 and set a "neutral" rating for the company in a research note on Monday, September 23rd. Truist Financial lifted their price objective on Terex from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, November 4th. JPMorgan Chase & Co. lowered their price objective on Terex from $65.00 to $62.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. Robert W. Baird lowered their price objective on Terex from $65.00 to $55.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Finally, Evercore ISI lowered their price objective on Terex from $67.00 to $59.00 and set an "outperform" rating on the stock in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $59.56.

Terex Price Performance

Shares of Terex stock traded down $0.08 on Wednesday, hitting $55.08. 272,934 shares of the company were exchanged, compared to its average volume of 805,770. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 8.07, a price-to-earnings-growth ratio of 4.46 and a beta of 1.53. The company has a 50-day moving average price of $53.60 and a 200 day moving average price of $55.07. Terex Co. has a 1-year low of $48.11 and a 1-year high of $68.08. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

Terex (NYSE:TEX - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, beating analysts' consensus estimates 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 prior year, the firm posted $1.75 earnings per share. The firm's quarterly revenue was down 6.0% on a year-over-year basis. As a group, sell-side analysts predict 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 will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Friday, November 8th. Terex's payout ratio is 9.93%.

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.