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

Terex Co. (NYSE:TEX)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $43.19 and last traded at $43.26, with a volume of 291848 shares traded. The stock had previously closed at $45.57.

Analysts Set New Price Targets

A number of analysts recently commented on TEX shares. StockNews.com cut Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Citigroup lowered their price target on Terex from $57.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price target on Terex from $59.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Truist Financial lowered their price target on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Evercore ISI lowered their price target on Terex from $63.00 to $59.00 and set an “outperform” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Terex has a consensus rating of “Hold” and a consensus price target of $56.11.

Terex Stock Down 5.2 %

The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 4.53 and a beta of 1.54. 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 firm has a 50 day moving average price of $46.26 and a two-hundred day moving average price of $50.92.

Terex (NYSE:TEX) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share for the quarter, topping 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 in the previous year, the firm posted $1.88 earnings per share. On average, equities analysts expect that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Friday, March 7th. Terex’s dividend payout ratio is presently 13.71%.

Insiders Place Their Bets

In other news, CEO Simon Meester sold 9,877 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total transaction of $505,109.78. Following the completion of the transaction, the chief executive officer now directly owns 127,858 shares in the company, valued at approximately $6,538,658.12. This represents a 7.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David A. Sachs bought 20,000 shares of Terex stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $49.75 per share, with a total value of $995,000.00. Following the completion of the purchase, the director now owns 137,500 shares in the company, valued at approximately $6,840,625. The trade was a 17.02 % increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Terex

Several institutional investors and hedge funds have recently made changes to their positions in TEX. Neo Ivy Capital Management purchased a new position in shares of Terex during the 4th quarter valued at approximately $29,000. Jones Financial Companies Lllp acquired a new stake in shares of Terex during the 4th quarter valued at approximately $31,000. Smartleaf Asset Management LLC raised its position in shares of Terex by 46.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Terex during the 3rd quarter valued at approximately $40,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Terex during the 3rd quarter valued at approximately $41,000. 92.88% of the stock is currently owned by hedge funds and other 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.