Terex Co. (NYSE:TEX) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund increased its position in Terex Co. (NYSE:TEX) by 2.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,130 shares of the industrial products company’s stock after purchasing an additional 467 shares during the period. New York State Common Retirement Fund’s holdings in Terex were worth $1,023,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TEX. Regents Gate Capital LLP acquired a new position in Terex in the fourth quarter worth about $5,561,000. Point72 Asset Management L.P. acquired a new position in Terex in the third quarter valued at approximately $4,283,000. Foundry Partners LLC acquired a new position in Terex in the third quarter valued at approximately $3,881,000. Bridgewater Associates LP boosted its stake in Terex by 176.1% in the third quarter. Bridgewater Associates LP now owns 79,009 shares of the industrial products company’s stock valued at $4,180,000 after acquiring an additional 50,389 shares during the period. Finally, Curated Wealth Partners LLC boosted its stake in Terex by 28.3% in the fourth quarter. Curated Wealth Partners LLC now owns 226,922 shares of the industrial products company’s stock valued at $10,488,000 after acquiring an additional 50,000 shares during the period. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barclays cut their price target on Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. cut their price target on Terex from $59.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Truist Financial cut 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. Evercore ISI cut their price target on Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, StockNews.com cut Terex from a “hold” rating to a “sell” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $56.11.

Insider Buying and Selling at Terex

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

Terex Price Performance

Shares of NYSE:TEX opened at $38.31 on Tuesday. Terex Co. has a 12 month low of $38.18 and a 12 month high of $68.08. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 4.53 and a beta of 1.54. The stock’s 50 day moving average price is $45.66 and its 200 day moving average price is $50.37. 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 (NYSE:TEX) last announced its earnings results 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 return on equity of 21.99% and a net margin of 6.54%. During the same quarter in the previous year, the business earned $1.88 EPS. Equities research analysts anticipate that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th will be issued a $0.17 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.68 annualized dividend and a dividend yield of 1.77%. Terex’s dividend 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.