Terex Co. (NYSE:TEX) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in shares of Terex Co. (NYSE:TEX) by 7.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 725,486 shares of the industrial products company’s stock after purchasing an additional 52,885 shares during the period. Bank of New York Mellon Corp owned 1.09% of Terex worth $33,532,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Cascade Investment Advisors Inc. acquired a new position in shares of Terex during the 4th quarter worth about $1,070,000. Chartwell Investment Partners LLC acquired a new position in shares of Terex during the 3rd quarter worth about $559,000. GSA Capital Partners LLP acquired a new position in shares of Terex during the 3rd quarter worth about $615,000. Barclays PLC raised its position in shares of Terex by 40.2% during the 3rd quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock worth $6,838,000 after purchasing an additional 37,072 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Terex during the 3rd quarter worth about $4,283,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

Insider Buying and Selling

In related news, Director David A. Sachs acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average price of $51.30 per share, with a total value of $513,000.00. Following the transaction, the director now owns 107,500 shares of the company’s stock, valued at approximately $5,514,750. This trade represents a 10.26 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Simon Meester sold 9,877 shares of the stock in a transaction that occurred on 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 directly owns 127,858 shares of the company’s stock, valued at $6,538,658.12. The trade was a 7.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders purchased 31,325 shares of company stock valued at $1,556,972. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays cut their price objective on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Truist Financial cut their price objective on shares of Terex from $65.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Citigroup cut their price objective on shares of Terex from $57.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. 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. cut their price objective on shares of Terex from $59.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.11.

Terex Stock Up 1.5 %

Shares of NYSE TEX opened at $41.02 on Friday. The company has a 50 day simple moving average of $45.28 and a 200-day simple moving average of $50.10. The company has a market capitalization of $2.72 billion, a P/E ratio of 8.27, a P/E/G ratio of 4.53 and a beta of 1.56. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09. Terex Co. has a 1 year low of $36.15 and a 1 year high of $68.08.

Terex (NYSE:TEX) last announced its quarterly 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 prior year, the company posted $1.88 earnings per share. On average, equities research analysts predict that Terex Co. will post 4.83 earnings per share for the current year.

Terex Dividend Announcement

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

Terex Company 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.