Terex (NYSE:TEX) Reaches New 52-Week Low – Here’s Why

Shares of Terex Co. (NYSE:TEX) reached a new 52-week low during trading on Monday . The company traded as low as $44.55 and last traded at $44.61, with a volume of 59877 shares. The stock had previously closed at $45.07.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TEX shares. Citigroup dropped their target price on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. The Goldman Sachs Group dropped their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Robert W. Baird decreased their target price on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Truist Financial dropped their price target on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $58.78.

Terex Trading Down 1.0 %

The business has a 50-day moving average of $52.89 and a 200 day moving average of $54.16. The stock has a market cap of $2.98 billion, a PE ratio of 6.52, a PEG ratio of 4.00 and a beta of 1.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39.

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

Terex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 8th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Friday, November 8th. Terex’s dividend payout ratio (DPR) is 9.93%.

Insider Activity

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Blue Trust Inc. increased its stake in Terex by 57.5% during the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 187 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Terex by 83.3% during the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 335 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Terex during the 3rd quarter worth approximately $40,000. Truvestments Capital LLC purchased a new position in Terex in the third quarter valued at approximately $41,000. Finally, Farther Finance Advisors LLC lifted its position in Terex by 74.6% during the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock valued at $62,000 after buying an additional 504 shares in the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.

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.