Kendall Capital Management Raises Stake in Terex Co. (NYSE:TEX)

Kendall Capital Management boosted its holdings in shares of Terex Co. (NYSE:TEX) by 5.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 9,720 shares of the industrial products company’s stock after purchasing an additional 480 shares during the period. Kendall Capital Management’s holdings in Terex were worth $449,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its position in Terex by 46.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 222 shares during the last quarter. US Bancorp DE grew its position in Terex by 4.0% during the 3rd quarter. US Bancorp DE now owns 5,837 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 227 shares during the last quarter. Lingohr Asset Management GmbH grew its position in Terex by 2.0% during the 3rd quarter. Lingohr Asset Management GmbH now owns 11,516 shares of the industrial products company’s stock worth $607,000 after purchasing an additional 230 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Terex by 4.4% in the third quarter. Verdence Capital Advisors LLC now owns 5,575 shares of the industrial products company’s stock valued at $295,000 after acquiring an additional 233 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Terex by 26.8% in the fourth quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 260 shares in the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.

Terex Stock Performance

Shares of TEX opened at $41.02 on Monday. 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 has a market cap of $2.72 billion, a P/E ratio of 8.27, a PEG ratio of 4.53 and a beta of 1.56. The company has a 50-day moving average of $45.20 and a two-hundred day moving average of $49.95. Terex Co. has a 12-month low of $36.15 and a 12-month high of $68.08.

Terex (NYSE:TEX) last announced its earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the company earned $1.88 earnings per share. As a group, research analysts predict that Terex Co. will post 4.83 EPS for the current fiscal year.

Terex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Friday, March 7th. Terex’s payout ratio is currently 13.71%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TEX. Evercore ISI lowered their target price on shares of Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Citigroup lowered their target price on shares of Terex from $57.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Truist Financial lowered their target price on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. StockNews.com downgraded shares of Terex from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Terex from $59.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. One investment 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. According to data from MarketBeat.com, Terex presently has an average rating of “Hold” and an average price target of $56.11.

Insiders Place Their Bets

In other news, Director David A. Sachs acquired 20,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $49.75 per share, with a total value of $995,000.00. Following the completion of the transaction, the director now directly owns 137,500 shares in the company, valued at approximately $6,840,625. This represents a 17.02 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andra Rush acquired 1,325 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $36.96 per share, with a total value of $48,972.00. Following the transaction, the director now owns 23,308 shares of the company’s stock, valued at approximately $861,463.68. The trade was a 6.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 31,325 shares of company stock worth $1,556,972. 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.