Terex (NYSE:TEX) Reaches New 12-Month Low – Here’s What Happened

Terex Co. (NYSE:TEX) hit a new 52-week low on Friday . The company traded as low as $44.04 and last traded at $44.07, with a volume of 74944 shares traded. The stock had previously closed at $44.93.

Analysts Set New Price Targets

TEX has been the subject of several recent analyst reports. Truist Financial reduced their price objective on shares of Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Robert W. Baird lowered their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. lowered their price target on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Citigroup reduced their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Finally, The Goldman Sachs Group cut their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $58.78.

Terex Trading Down 1.9 %

The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $50.25 and its 200-day moving average price is $53.19. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 6.43, a price-to-earnings-growth ratio of 4.00 and a beta of 1.55.

Terex (NYSE:TEX) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (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 firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company posted $1.75 earnings per share. The business’s revenue was down 6.0% on a year-over-year basis. Equities analysts expect that Terex Co. will post 6.07 EPS for the current fiscal year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 8th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.54%. Terex’s dividend payout ratio (DPR) is presently 9.93%.

Insiders Place Their Bets

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

Institutional Trading of Terex

Large investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. increased its holdings in shares of Terex by 1.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 33,839 shares of the industrial products company’s stock valued at $1,564,000 after acquiring an additional 529 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Terex by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 107,029 shares of the industrial products company’s stock worth $4,888,000 after buying an additional 3,608 shares during the last quarter. Franklin Resources Inc. lifted its position in Terex by 1.0% in the third quarter. Franklin Resources Inc. now owns 81,450 shares of the industrial products company’s stock valued at $4,512,000 after acquiring an additional 795 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Terex in the third quarter valued at $40,000. Finally, Sanctuary Advisors LLC grew its holdings in shares of Terex by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 10,610 shares of the industrial products company’s stock worth $571,000 after purchasing an additional 717 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

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.