American International Group Inc. Sells 4,520 Shares of Terex Co. (NYSE:TEX)

American International Group Inc. reduced its holdings in shares of Terex Co. (NYSE:TEX) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,433 shares of the industrial products company’s stock after selling 4,520 shares during the quarter. American International Group Inc. owned 0.18% of Terex worth $7,092,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TEX. Norges Bank acquired a new position in shares of Terex during the fourth quarter valued at about $42,606,000. Greenhaven Associates Inc. grew its holdings in shares of Terex by 101.5% during the fourth quarter. Greenhaven Associates Inc. now owns 1,456,700 shares of the industrial products company’s stock valued at $83,702,000 after buying an additional 733,690 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Terex by 94.6% during the third quarter. American Century Companies Inc. now owns 542,048 shares of the industrial products company’s stock valued at $31,233,000 after buying an additional 263,435 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Terex by 356.0% during the fourth quarter. Allianz Asset Management GmbH now owns 207,155 shares of the industrial products company’s stock valued at $11,903,000 after buying an additional 161,729 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Terex by 42.6% during the fourth quarter. First Trust Advisors LP now owns 520,820 shares of the industrial products company’s stock valued at $29,926,000 after buying an additional 155,706 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Terex Stock Performance

Shares of TEX stock opened at $53.11 on Friday. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 7.03 and a beta of 1.61. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 2.16. Terex Co. has a 52 week low of $43.70 and a 52 week high of $65.89. The firm’s 50-day simple moving average is $58.98 and its two-hundred day simple moving average is $58.68.

Terex (NYSE:TEX) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.37 by $0.23. Terex had a net margin of 9.87% and a return on equity of 30.53%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.23 billion. As a group, equities analysts forecast that Terex Co. will post 7.09 earnings per share for the current year.

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Thursday, June 6th. Terex’s dividend payout ratio (DPR) is currently 9.01%.

Wall Street Analysts Forecast Growth

TEX has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price objective for the company. in a report on Monday, March 18th. UBS Group boosted their price target on shares of Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Finally, Truist Financial started coverage on shares of Terex in a report on Thursday, March 14th. They set a “buy” rating and a $73.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $65.33.

Insider Activity

In other news, CAO Stephen Johnston sold 3,239 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $62.00, for a total value of $200,818.00. Following the sale, the chief accounting officer now owns 14,606 shares of the company’s stock, valued at $905,572. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Stephen Johnston sold 3,239 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $62.00, for a total transaction of $200,818.00. Following the sale, the chief accounting officer now owns 14,606 shares of the company’s stock, valued at approximately $905,572. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John L. Garrison, Jr. sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $64.28, for a total transaction of $3,214,000.00. Following the sale, the chief executive officer now directly owns 315,483 shares in the company, valued at approximately $20,279,247.24. The disclosure for this sale can be found here. Insiders have sold a total of 82,929 shares of company stock valued at $5,172,307 over the last quarter. Company insiders own 1.90% of the company’s stock.

Terex 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.