Raymond James Financial Inc. Buys Shares of 49,558 Terex Co. (NYSE:TEX)

Raymond James Financial Inc. purchased a new position in shares of Terex Co. (NYSE:TEX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 49,558 shares of the industrial products company’s stock, valued at approximately $2,291,000. Raymond James Financial Inc. owned about 0.07% of Terex at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TEX. Regents Gate Capital LLP acquired a new position in Terex during the fourth quarter worth about $5,561,000. Point72 Asset Management L.P. purchased a new stake in shares of Terex during the 3rd quarter worth approximately $4,283,000. Bank of New York Mellon Corp grew its holdings in shares of Terex by 7.9% in the 4th quarter. Bank of New York Mellon Corp now owns 725,486 shares of the industrial products company’s stock worth $33,532,000 after acquiring an additional 52,885 shares during the period. Curated Wealth Partners LLC raised its holdings in Terex by 28.3% during the fourth quarter. Curated Wealth Partners LLC now owns 226,922 shares of the industrial products company’s stock worth $10,488,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Holocene Advisors LP raised its stake in shares of Terex by 451.6% during the 3rd quarter. Holocene Advisors LP now owns 59,731 shares of the industrial products company’s stock worth $3,160,000 after buying an additional 48,902 shares during the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

Terex Trading Down 4.0 %

Shares of NYSE TEX opened at $38.47 on Monday. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 7.76, a PEG ratio of 4.53 and a beta of 1.56. The business has a 50 day simple moving average of $43.45 and a 200 day simple moving average of $48.52. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16. Terex Co. has a 52 week low of $36.15 and a 52 week high of $68.08.

Terex (NYSE:TEX) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 earnings per share 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 period in the prior year, the business posted $1.88 EPS. On average, research analysts predict that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Friday, March 7th. Terex’s payout ratio is 13.71%.

Insider Activity

In related news, Director Andra Rush purchased 1,325 shares of Terex stock in a transaction that occurred 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 transaction, the director now directly owns 23,308 shares in the company, valued at approximately $861,463.68. This represents a 6.03 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TEX shares. 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 report on Monday, February 10th. Truist Financial lowered their price target 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 reduced their price objective on shares of Terex from $48.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. JPMorgan Chase & Co. lowered their target price on shares of Terex from $51.00 to $48.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Finally, StockNews.com lowered Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.22.

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.