Terex (NYSE:TEX) Trading Down 3.1% – Here’s Why

Shares of Terex Co. (NYSE:TEX) fell 3.1% during trading on Monday . The stock traded as low as $39.65 and last traded at $39.05. 53,976 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 822,304 shares. The stock had previously closed at $40.31.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Truist Financial reduced their price target on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. StockNews.com lowered Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Citigroup dropped their price objective on Terex from $57.00 to $48.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Barclays reduced 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. Finally, JPMorgan Chase & Co. dropped their target price on shares of Terex from $59.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $56.11.

Terex Trading Down 2.0 %

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 has a market cap of $2.62 billion, a price-to-earnings ratio of 7.96, a price-to-earnings-growth ratio of 4.53 and a beta of 1.56. The business’s fifty day moving average price is $44.65 and its 200 day moving average price is $49.42.

Terex (NYSE:TEX) last released 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 period last year, the firm posted $1.88 EPS. Research analysts anticipate that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Announces Dividend

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. This represents a $0.68 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Friday, March 7th. Terex’s dividend payout ratio is presently 13.71%.

Insider Buying and Selling at Terex

In other news, Director Andra Rush bought 1,325 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $36.96 per share, with a total value of $48,972.00. Following the transaction, the director now directly owns 23,308 shares of the company’s stock, valued at approximately $861,463.68. This represents a 6.03 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Terex

A number of large investors have recently modified their holdings of the company. State of New Jersey Common Pension Fund D grew its holdings in Terex by 10.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 35,207 shares of the industrial products company’s stock worth $1,863,000 after buying an additional 3,223 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Terex in the 3rd quarter worth $615,000. Lingohr Asset Management GmbH raised its holdings in shares of Terex by 2.0% in the third quarter. Lingohr Asset Management GmbH now owns 11,516 shares of the industrial products company’s stock valued at $607,000 after purchasing an additional 230 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of Terex by 8.8% during the third quarter. Advisors Asset Management Inc. now owns 57,056 shares of the industrial products company’s stock valued at $3,019,000 after purchasing an additional 4,633 shares in the last quarter. Finally, Moran Wealth Management LLC boosted its holdings in Terex by 2.7% during the third quarter. Moran Wealth Management LLC now owns 45,339 shares of the industrial products company’s stock worth $2,399,000 after purchasing an additional 1,209 shares during the last quarter. 92.88% of the stock is currently owned by 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.