Stifel Financial Corp Reduces Stock Position in Terex Co. (NYSE:TEX)

Stifel Financial Corp trimmed its holdings in shares of Terex Co. (NYSE:TEX) by 53.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,127 shares of the industrial products company’s stock after selling 12,621 shares during the period. Stifel Financial Corp’s holdings in Terex were worth $589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in Terex by 83.3% during the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 335 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of Terex during the third quarter worth about $41,000. Blue Trust Inc. lifted its holdings in shares of Terex by 89.3% in the 3rd quarter. Blue Trust Inc. now owns 969 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 457 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Terex by 74.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 504 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Terex in the 2nd quarter valued at about $109,000. 92.88% of the stock is owned by institutional investors and hedge funds.

Terex Stock Performance

Shares of TEX stock opened at $45.80 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $52.06 and a 200-day simple moving average of $53.88. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 6.69, a price-to-earnings-growth ratio of 4.00 and a beta of 1.53. Terex Co. has a 12-month low of $44.43 and a 12-month high of $68.08.

Terex (NYSE:TEX) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.15. Terex had a return on equity of 24.92% and a net margin of 9.08%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the business posted $1.75 earnings per share. Terex’s revenue was down 6.0% compared to the same quarter last year. On average, equities analysts forecast that Terex Co. will post 6.07 EPS for the current year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 8th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.48%. Terex’s dividend payout ratio (DPR) is presently 9.93%.

Insider Activity

In other Terex news, Director David A. Sachs bought 20,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was purchased at an average cost of $49.75 per share, for a total transaction of $995,000.00. Following the acquisition, the director now owns 137,500 shares of the company’s stock, valued at $6,840,625. The trade was a 17.02 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Simon Meester sold 9,877 shares of Terex stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total transaction of $505,109.78. Following the transaction, the chief executive officer now owns 127,858 shares of the company’s stock, valued at approximately $6,538,658.12. The trade was a 7.17 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TEX. Citigroup reduced their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. The Goldman Sachs Group reduced their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Robert W. Baird lowered their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. JPMorgan Chase & Co. reduced their target price on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Finally, Truist Financial lowered their price target on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $58.78.

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.