Terex (NYSE:TEX) Hits New 12-Month Low – Here’s What Happened

Terex Co. (NYSE:TEX)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $35.66 and last traded at $35.84, with a volume of 859271 shares traded. The stock had previously closed at $40.01.

Wall Street Analysts Forecast Growth

TEX has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their target price on shares of Terex from $51.00 to $48.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Citigroup decreased their price objective on Terex from $48.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. StockNews.com cut Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Truist Financial dropped their price objective 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. Finally, The Goldman Sachs Group reduced their target price on shares of Terex from $60.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. One equities 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.com, the stock currently has an average rating of “Hold” and an average price target of $54.22.

Terex Stock Performance

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 stock’s 50 day moving average price is $42.88 and its two-hundred day moving average price is $48.27. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 7.23, a PEG ratio of 4.53 and a beta of 1.56.

Terex (NYSE:TEX) last issued its earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share 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 last year, the company earned $1.88 EPS. On average, analysts forecast that Terex Co. will post 4.83 EPS for the current year.

Terex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, March 7th. This represents a $0.68 annualized dividend and a yield of 1.90%. Terex’s dividend payout ratio is presently 13.71%.

Insiders Place Their Bets

In other Terex news, Director Andra Rush bought 1,325 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the acquisition, the director now owns 23,308 shares of the company’s stock, valued at $861,463.68. The trade was a 6.03 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Trading of Terex

Large investors have recently modified their holdings of the business. Neo Ivy Capital Management purchased a new stake in Terex in the 4th quarter valued at approximately $29,000. Jones Financial Companies Lllp acquired a new position in shares of Terex in the fourth quarter worth $31,000. Smartleaf Asset Management LLC raised its holdings in shares of Terex by 46.1% in 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 during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Terex in the third quarter valued at $40,000. Finally, VisionPoint Advisory Group LLC acquired a new stake in shares of Terex during the fourth quarter valued at $51,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

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.