Terex (NYSE:TEX) Sets New 12-Month Low – Here’s What Happened

Shares of Terex Co. (NYSE:TEX) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $43.19 and last traded at $43.26, with a volume of 291848 shares changing hands. The stock had previously closed at $45.57.

Wall Street Analysts Forecast Growth

TEX has been the topic of several analyst reports. Truist Financial dropped their target price on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Robert W. Baird dropped 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. StockNews.com lowered Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. dropped their target price on Terex from $59.00 to $52.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, Evercore ISI dropped their target price on Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned 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 $56.11.

Terex Price Performance

The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 4.53 and a beta of 1.54. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09. The business has a fifty day moving average price of $46.26 and a 200 day moving average price of $50.92.

Terex (NYSE:TEX) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates 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 business earned $1.88 EPS. On average, research analysts expect that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, March 7th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, March 7th. This represents a $0.68 annualized dividend and a yield of 1.57%. Terex’s dividend payout ratio is currently 13.71%.

Insider Activity at Terex

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

Hedge Funds Weigh In On Terex

Hedge funds and other institutional investors have recently modified their holdings of the stock. Neo Ivy Capital Management acquired a new position in shares of Terex in the 4th quarter valued at $29,000. Jones Financial Companies Lllp acquired a new position in shares of Terex in the 4th quarter valued at $31,000. Smartleaf Asset Management LLC boosted its position in shares of Terex by 46.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 222 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Terex in the 3rd quarter valued at $40,000. Finally, Truvestments Capital LLC acquired a new position in shares of Terex in the 3rd quarter valued at $41,000. 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.