Mutual of America Capital Management LLC Sells 2,377 Shares of Terex Co. (NYSE:TEX)

Mutual of America Capital Management LLC trimmed its position in Terex Co. (NYSE:TEX) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,157 shares of the industrial products company’s stock after selling 2,377 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of Terex worth $1,913,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. TCW Group Inc. acquired a new stake in shares of Terex during the second quarter worth $566,000. DekaBank Deutsche Girozentrale increased its holdings in Terex by 26.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 106,849 shares of the industrial products company’s stock worth $6,809,000 after purchasing an additional 22,291 shares in the last quarter. Chartwell Investment Partners LLC bought a new stake in Terex in the 3rd quarter valued at about $559,000. Edgestream Partners L.P. increased its position in shares of Terex by 181.6% during the second quarter. Edgestream Partners L.P. now owns 68,898 shares of the industrial products company’s stock worth $3,778,000 after acquiring an additional 44,432 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Terex during the third quarter worth about $615,000. Institutional investors own 92.88% of the company’s stock.

Terex Stock Performance

TEX opened at $53.80 on Monday. Terex Co. has a 12-month low of $48.11 and a 12-month high of $68.08. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 7.85, a PEG ratio of 4.27 and a beta of 1.53. 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 company’s 50 day moving average is $53.43 and its 200 day moving average is $55.41.

Terex (NYSE:TEX) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. Terex had a return on equity of 24.92% and a net margin of 9.08%. The business 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. The business’s quarterly revenue was down 6.0% on a year-over-year basis. On average, equities research analysts predict that Terex Co. will post 6.07 EPS for the current year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.26%. Terex’s dividend payout ratio is currently 9.93%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TEX shares. The Goldman Sachs Group decreased their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Truist Financial lifted their price target on shares of Terex from $62.00 to $65.00 and gave the company a “buy” rating in a report on Monday, November 4th. Robert W. Baird reduced their price target 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. Evercore ISI lowered their target price on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Finally, Citigroup dropped their target price on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.56.

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.