Terex Co. (NYSE:TEX) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its position in shares of Terex Co. (NYSE:TEX) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,754 shares of the industrial products company’s stock after selling 713 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.12% of Terex worth $4,429,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. increased its holdings in shares of Terex by 57.5% in the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 187 shares during the last quarter. FCG Investment Co boosted its position in shares of Terex by 3.5% during the second quarter. FCG Investment Co now owns 6,534 shares of the industrial products company’s stock worth $358,000 after buying an additional 220 shares during the period. QRG Capital Management Inc. boosted its position in shares of Terex by 4.4% during the first quarter. QRG Capital Management Inc. now owns 5,566 shares of the industrial products company’s stock worth $358,000 after buying an additional 234 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Terex by 2.2% in the second quarter. SummerHaven Investment Management LLC now owns 12,114 shares of the industrial products company’s stock valued at $664,000 after acquiring an additional 258 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Terex by 1.4% in the second quarter. Arizona State Retirement System now owns 18,757 shares of the industrial products company’s stock valued at $1,029,000 after acquiring an additional 261 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Terex Price Performance

Shares of NYSE:TEX opened at $52.12 on Tuesday. The business’s 50 day simple moving average is $53.82 and its 200-day simple moving average is $57.30. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 6.90, a price-to-earnings-growth ratio of 4.30 and a beta of 1.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.21 and a quick ratio of 1.07. Terex Co. has a 12 month low of $43.70 and a 12 month high of $68.08.

Terex (NYSE:TEX) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.10. Terex had a return on equity of 27.89% and a net margin of 9.55%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the company earned $2.35 EPS. Terex’s revenue was down 1.5% on a year-over-year basis. As a group, equities analysts forecast that Terex Co. will post 5.88 earnings per share for the current fiscal year.

Terex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 9th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, August 9th. Terex’s dividend payout ratio is presently 9.01%.

Wall Street Analyst Weigh In

TEX has been the topic of a number of analyst reports. Citigroup cut their price target on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. Truist Financial lowered their price target on Terex from $74.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, September 20th. The Goldman Sachs Group lowered their price target on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Evercore ISI lowered their price objective on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. lifted their price objective on Terex from $59.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.90.

Insiders Place Their Bets

In other news, Director Andra Rush bought 2,205 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $54.36 per share, with a total value of $119,863.80. Following the transaction, the director now owns 21,983 shares of the company’s stock, valued at $1,194,995.88. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate 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.