Norges Bank Takes Position in Terex Co. (NYSE:TEX)

Norges Bank bought a new position in Terex Co. (NYSE:TEX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 757,259 shares of the industrial products company’s stock, valued at approximately $35,001,000. Norges Bank owned approximately 1.13% of Terex at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Jones Financial Companies Lllp bought a new stake in shares of Terex in the 4th quarter worth approximately $31,000. Smartleaf Asset Management LLC raised its position in Terex by 46.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 222 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Terex in the third quarter worth $40,000. VisionPoint Advisory Group LLC purchased a new stake in Terex during the fourth quarter valued at about $51,000. Finally, Blue Trust Inc. grew its stake in shares of Terex by 26.8% during the fourth quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company’s stock valued at $57,000 after buying an additional 260 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors.

Terex Stock Down 4.9 %

Shares of NYSE TEX opened at $34.07 on Friday. The firm has a fifty day simple moving average of $42.32 and a two-hundred day simple moving average of $48.00. The firm has a market capitalization of $2.26 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 4.53 and a beta of 1.40. 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 $32.17 and a 12 month high of $68.08.

Terex (NYSE:TEX) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, topping the consensus estimate 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 period last year, the firm earned $1.88 earnings per share. Equities analysts expect that Terex Co. will post 4.83 earnings per share for the current year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.68 annualized dividend and a yield of 2.00%. Terex’s payout ratio is 13.71%.

Analyst Ratings Changes

A number of research firms have recently weighed in on TEX. Evercore ISI lowered their target price on Terex from $63.00 to $59.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Barclays dropped their price objective 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. JPMorgan Chase & Co. decreased their target price on shares of Terex from $51.00 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. StockNews.com cut shares of Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group cut their price target on shares of Terex from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $54.22.

Insiders Place Their Bets

In other Terex news, Director Andra Rush acquired 1,325 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the acquisition, the director now owns 23,308 shares in the company, valued at $861,463.68. This trade represents a 6.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is owned by corporate insiders.

Terex 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.