Corebridge Financial Inc. Sells 5,995 Shares of Terex Co. (NYSE:TEX)

Corebridge Financial Inc. cut its position in shares of Terex Co. (NYSE:TEX) by 5.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 108,251 shares of the industrial products company’s stock after selling 5,995 shares during the period. Corebridge Financial Inc.’s holdings in Terex were worth $5,003,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TEX. American Century Companies Inc. grew its stake in shares of Terex by 8.4% during the 4th quarter. American Century Companies Inc. now owns 1,741,206 shares of the industrial products company’s stock worth $80,479,000 after acquiring an additional 135,286 shares in the last quarter. Regents Gate Capital LLP bought a new position in Terex in the fourth quarter valued at $5,561,000. Point72 Asset Management L.P. acquired a new stake in Terex in the 3rd quarter valued at $4,283,000. Bank of New York Mellon Corp increased its stake in Terex by 7.9% in the 4th quarter. Bank of New York Mellon Corp now owns 725,486 shares of the industrial products company’s stock valued at $33,532,000 after buying an additional 52,885 shares during the last quarter. Finally, Bridgewater Associates LP lifted its position in Terex by 176.1% during the 3rd quarter. Bridgewater Associates LP now owns 79,009 shares of the industrial products company’s stock worth $4,180,000 after buying an additional 50,389 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Insider Transactions at Terex

In other Terex news, Director Andra Rush purchased 1,325 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $36.96 per share, with a total value of $48,972.00. Following the completion of the transaction, the director now owns 23,308 shares in the company, valued at $861,463.68. The trade was a 6.03 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com downgraded Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Barclays dropped their price objective on Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Truist Financial decreased their target price on shares of Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. The Goldman Sachs Group dropped their price target on shares of Terex from $60.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Finally, Evercore ISI decreased their price objective on shares of Terex from $63.00 to $59.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Terex currently has a consensus rating of “Hold” and a consensus price target of $54.22.

Terex Price Performance

Shares of TEX opened at $38.47 on Friday. The firm has a market capitalization of $2.55 billion, a PE ratio of 7.76, a PEG ratio of 4.53 and a beta of 1.56. 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 company’s 50-day moving average is $43.45 and its 200-day moving average is $48.53. Terex Co. has a fifty-two week low of $36.15 and a fifty-two week high of $68.08.

Terex (NYSE:TEX) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same quarter in the prior year, the firm earned $1.88 earnings per share. Equities analysts forecast that Terex Co. will post 4.83 EPS for the current year.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.77%. The ex-dividend date was Friday, March 7th. Terex’s payout ratio is 13.71%.

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.