Terex (NYSE:TEX) Stock Price Down 4.6%

Terex Co. (NYSE:TEX)’s share price was down 4.6% during trading on Thursday . The company traded as low as $52.88 and last traded at $53.26. Approximately 184,449 shares changed hands during trading, a decline of 77% from the average daily volume of 818,473 shares. The stock had previously closed at $55.85.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TEX. Raymond James assumed coverage on shares of Terex in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Truist Financial cut their target price on shares of Terex from $74.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday. Jefferies Financial Group decreased their price target on shares of Terex from $68.00 to $55.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. The Goldman Sachs Group cut their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. increased their target price on Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.20.

Terex Trading Down 3.7 %

The firm has a 50-day moving average price of $55.96 and a 200-day moving average price of $57.82. The stock has a market cap of $3.47 billion, a PE ratio of 6.86, a price-to-earnings-growth ratio of 3.61 and a beta of 1.53. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 2.21.

Terex (NYSE:TEX) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.10. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. Terex had a net margin of 9.55% and a return on equity of 27.89%. The business’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.35 earnings per share. As a group, equities analysts anticipate that Terex Co. will post 7.21 EPS for the current fiscal year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 9th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Friday, August 9th. Terex’s dividend payout ratio (DPR) is 9.01%.

Insider Transactions at Terex

In related news, Director Andra Rush bought 2,205 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the completion of the acquisition, the director now owns 21,983 shares of the company’s stock, valued at approximately $1,194,995.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Terex

A number of large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Terex during the fourth quarter valued at approximately $42,606,000. UBS Group AG raised its holdings in Terex by 83.3% in the 4th quarter. UBS Group AG now owns 147,149 shares of the industrial products company’s stock worth $8,455,000 after purchasing an additional 66,889 shares during the period. Clearbridge Investments LLC lifted its position in Terex by 1.8% during the fourth quarter. Clearbridge Investments LLC now owns 342,245 shares of the industrial products company’s stock valued at $19,665,000 after purchasing an additional 6,119 shares in the last quarter. Quest Partners LLC bought a new stake in Terex during the fourth quarter valued at about $550,000. Finally, Congress Wealth Management LLC DE purchased a new stake in Terex in the fourth quarter worth about $289,000. 92.88% of the stock is currently owned by 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.