Easterly Investment Partners LLC Reduces Stock Holdings in Terex Co. (NYSE:TEX)

Easterly Investment Partners LLC lowered its stake in shares of Terex Co. (NYSE:TEX) by 27.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,686 shares of the industrial products company’s stock after selling 8,804 shares during the quarter. Easterly Investment Partners LLC’s holdings in Terex were worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Cascade Investment Advisors Inc. acquired a new position in Terex during the fourth quarter worth approximately $1,070,000. Barclays PLC increased its holdings in shares of Terex by 40.2% in the 3rd quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock valued at $6,838,000 after acquiring an additional 37,072 shares during the period. Point72 Asset Management L.P. purchased a new stake in Terex in the 3rd quarter valued at $4,283,000. Citigroup Inc. boosted its stake in Terex by 65.6% during the 3rd quarter. Citigroup Inc. now owns 70,443 shares of the industrial products company’s stock worth $3,727,000 after purchasing an additional 27,896 shares during the period. Finally, Cerity Partners LLC grew its position in Terex by 331.8% during the 3rd quarter. Cerity Partners LLC now owns 24,725 shares of the industrial products company’s stock worth $1,308,000 after purchasing an additional 18,999 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Insider Activity at Terex

In related news, Director Andra Rush bought 1,325 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $36.96 per share, with a total value of $48,972.00. Following the completion of the transaction, the director now directly owns 23,308 shares of the company’s stock, valued at approximately $861,463.68. This 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 insiders.

Terex Price Performance

TEX stock opened at $40.10 on Friday. The stock’s 50 day moving average price is $43.62 and its 200 day moving average price is $48.62. The firm has a market cap of $2.66 billion, a P/E ratio of 8.08, a PEG ratio of 4.53 and a beta of 1.56. 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 1 year low of $36.15 and a 1 year 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 (EPS) for the quarter, beating 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 period in the prior year, the company earned $1.88 EPS. On average, sell-side analysts expect that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.68 annualized dividend and a dividend yield of 1.70%. Terex’s dividend payout ratio is presently 13.71%.

Analyst Ratings Changes

A number of equities analysts have commented on TEX shares. Barclays cut their price objective on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. JPMorgan Chase & Co. reduced their price objective on shares of Terex from $51.00 to $48.00 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Evercore ISI dropped their target price on Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. The Goldman Sachs Group reduced their price target on Terex from $60.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Finally, Truist Financial dropped their price objective on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.