Clear Harbor Asset Management LLC Takes Position in Terex Co. (NYSE:TEX)

Clear Harbor Asset Management LLC purchased a new position in Terex Co. (NYSE:TEX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,116 shares of the industrial products company’s stock, valued at approximately $930,000.

A number of other large investors also recently added to or reduced their stakes in TEX. GAMMA Investing LLC increased its stake in shares of Terex by 83.3% during the third quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 335 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Terex during the 3rd quarter worth approximately $40,000. Truvestments Capital LLC acquired a new position in shares of Terex during the third quarter valued at approximately $41,000. Blue Trust Inc. lifted its position in shares of Terex by 89.3% in the third quarter. Blue Trust Inc. now owns 969 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 457 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Terex by 74.6% in the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 504 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Terex Price Performance

NYSE:TEX opened at $48.87 on Wednesday. Terex Co. has a 52 week low of $43.50 and a 52 week high of $68.08. The stock’s fifty day moving average is $49.16 and its two-hundred day moving average is $52.85. The company has a market capitalization of $3.26 billion, a P/E ratio of 7.13, a P/E/G ratio of 4.36 and a beta of 1.55. 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) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.15. Terex had a net margin of 9.08% and a return on equity of 24.92%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the firm earned $1.75 EPS. Terex’s revenue was down 6.0% on a year-over-year basis. Equities analysts expect that Terex Co. will post 6.08 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on TEX shares. Citigroup decreased their price objective on Terex from $57.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. decreased their price target on shares of Terex from $59.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Robert W. Baird dropped their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Truist Financial decreased their target price on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $56.63.

Insider Buying and Selling

In other news, Director David A. Sachs acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was acquired at an average cost of $51.30 per share, with a total value of $513,000.00. Following the completion of the purchase, the director now owns 107,500 shares of the company’s stock, valued at $5,514,750. This represents a 10.26 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 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 value of $505,109.78. Following the completion of the sale, the chief executive officer now owns 127,858 shares in the company, valued at $6,538,658.12. This represents a 7.17 % decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

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.