M&T Bank Corp Boosts Holdings in Terex Co. (NYSE:TEX)

M&T Bank Corp lifted its stake in Terex Co. (NYSE:TEX) by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,923 shares of the industrial products company’s stock after purchasing an additional 682 shares during the quarter. M&T Bank Corp’s holdings in Terex were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of TEX. State of New Jersey Common Pension Fund D increased its holdings in Terex by 10.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 35,207 shares of the industrial products company’s stock worth $1,863,000 after buying an additional 3,223 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Terex in the 3rd quarter worth about $615,000. Empowered Funds LLC increased its holdings in Terex by 0.4% in the 3rd quarter. Empowered Funds LLC now owns 176,165 shares of the industrial products company’s stock worth $9,321,000 after buying an additional 763 shares in the last quarter. Lingohr Asset Management GmbH increased its holdings in Terex by 2.0% in the 3rd quarter. Lingohr Asset Management GmbH now owns 11,516 shares of the industrial products company’s stock worth $607,000 after buying an additional 230 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in Terex by 8.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 57,056 shares of the industrial products company’s stock worth $3,019,000 after buying an additional 4,633 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Terex Trading Up 3.1 %

Shares of NYSE:TEX opened at $40.37 on Friday. The stock has a 50 day moving average of $44.65 and a 200 day moving average of $49.46. The company has a market cap of $2.68 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 4.53 and a beta of 1.56. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41. Terex Co. has a 12-month low of $36.15 and a 12-month high of $68.08.

Terex (NYSE:TEX) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. Terex had a return on equity of 21.99% and a net margin of 6.54%. During the same quarter in the prior year, the firm posted $1.88 earnings per share. As a group, equities research analysts expect that Terex Co. will post 4.83 EPS for the current year.

Terex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, March 7th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.68%. Terex’s dividend payout ratio is presently 13.71%.

Insider Buying and Selling

In other Terex news, Director Andra Rush purchased 1,325 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $36.96 per share, with a total value of $48,972.00. Following the acquisition, the director now owns 23,308 shares in the company, valued at approximately $861,463.68. This trade represents a 6.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Evercore ISI reduced their price objective on Terex from $63.00 to $59.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Citigroup cut their price target on Terex from $57.00 to $48.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. StockNews.com downgraded Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Barclays cut their price target on Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Finally, Truist Financial cut their price target on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $56.11.

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.