Lazard Asset Management LLC Has $10.38 Million Holdings in Terex Co. (NYSE:TEX)

Lazard Asset Management LLC increased its stake in Terex Co. (NYSE:TEX) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 161,183 shares of the industrial products company’s stock after buying an additional 854 shares during the quarter. Lazard Asset Management LLC owned approximately 0.24% of Terex worth $10,379,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. SummerHaven Investment Management LLC raised its stake in Terex by 1.6% in the 4th quarter. SummerHaven Investment Management LLC now owns 11,692 shares of the industrial products company’s stock valued at $672,000 after acquiring an additional 188 shares during the period. Greenwich Wealth Management LLC increased its position in Terex by 0.3% during the 4th quarter. Greenwich Wealth Management LLC now owns 61,670 shares of the industrial products company’s stock worth $3,544,000 after buying an additional 209 shares during the period. QRG Capital Management Inc. increased its position in Terex by 4.6% during the 4th quarter. QRG Capital Management Inc. now owns 5,332 shares of the industrial products company’s stock worth $306,000 after buying an additional 234 shares during the period. FCG Investment Co increased its position in Terex by 4.7% during the 1st quarter. FCG Investment Co now owns 6,314 shares of the industrial products company’s stock worth $407,000 after buying an additional 285 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Terex by 179.0% in the fourth quarter. Blue Trust Inc. now owns 466 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 299 shares during the period. Institutional investors and hedge funds own 92.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Truist Financial decreased their price target on Terex from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. raised their price target on Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Raymond James assumed coverage on Terex in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Jefferies Financial Group decreased their price target on Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Finally, Citigroup began coverage on Terex in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $64.33.

Terex Trading Up 1.6 %

Shares of TEX stock traded up $1.07 during mid-day trading on Friday, reaching $66.76. 1,437,480 shares of the stock traded hands, compared to its average volume of 1,220,481. The stock’s fifty day simple moving average is $56.99 and its two-hundred day simple moving average is $58.82. Terex Co. has a 1-year low of $43.70 and a 1-year high of $68.08. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 8.84 and a beta of 1.57. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.42.

Terex (NYSE:TEX) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.23. Terex had a return on equity of 30.53% and a net margin of 9.87%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.23 billion. On average, research analysts anticipate that Terex Co. will post 7.09 EPS for the current fiscal year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Thursday, June 6th. Terex’s payout ratio is 9.01%.

Insider Buying and Selling

In related news, insider Kieran Hegarty sold 17,190 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $58.26, for a total transaction of $1,001,489.40. Following the completion of the sale, the insider now owns 200,029 shares in the company, valued at $11,653,689.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Kieran Hegarty sold 17,190 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $58.26, for a total transaction of $1,001,489.40. Following the completion of the sale, the insider now owns 200,029 shares in the company, valued at $11,653,689.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Stephen Johnston sold 3,239 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $62.00, for a total value of $200,818.00. Following the completion of the transaction, the chief accounting officer now owns 14,606 shares of the company’s stock, valued at approximately $905,572. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,929 shares of company stock worth $1,958,307. 1.90% of the stock is owned by corporate insiders.

Terex 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.