Corebridge Financial Inc. Has $5 Million Position in Terex Co. (NYSE:TEX)

Corebridge Financial Inc. lessened its holdings in Terex Co. (NYSE:TEX) by 5.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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. owned approximately 0.16% of Terex worth $5,003,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp acquired a new position in shares of Terex in the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC raised its stake in Terex by 46.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Terex during the third quarter valued at $40,000. VisionPoint Advisory Group LLC acquired a new stake in shares of Terex in the 4th quarter valued at $51,000. Finally, Blue Trust Inc. grew its holdings in shares of Terex by 26.8% in the 4th quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 260 shares during the last quarter. Institutional investors own 92.88% of the company’s stock.

Terex Stock Performance

Terex stock opened at $38.47 on Friday. Terex Co. has a 1 year low of $36.15 and a 1 year high of $68.08. The company’s 50-day moving average is $43.45 and its two-hundred day moving average is $48.53. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41. The company has a market cap of $2.55 billion, a PE ratio of 7.76, a PEG ratio of 4.53 and a beta of 1.56.

Terex (NYSE:TEX) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm earned $1.88 EPS. Equities analysts anticipate that Terex Co. will post 4.83 earnings per share for the current year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were paid a $0.17 dividend. 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%.

Analyst Upgrades and Downgrades

TEX has been the topic of a number of recent analyst reports. Citigroup reduced their price target on shares of Terex from $48.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. JPMorgan Chase & Co. decreased their price target on Terex from $51.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 18th. Evercore ISI cut their price objective on Terex from $63.00 to $59.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. StockNews.com cut Terex from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Finally, Barclays cut their price target on Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Terex presently has an average rating of “Hold” and a consensus target price of $54.22.

Insiders Place Their Bets

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

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.