Cascade Investment Advisors Inc. Purchases New Stake in Terex Co. (NYSE:TEX)

Cascade Investment Advisors Inc. acquired a new position in shares of Terex Co. (NYSE:TEX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 23,150 shares of the industrial products company’s stock, valued at approximately $1,070,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC increased its position in shares of Terex by 169.0% during the second quarter. Millennium Management LLC now owns 264,885 shares of the industrial products company’s stock worth $14,526,000 after acquiring an additional 166,429 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Terex during the 3rd quarter worth about $4,283,000. Foundry Partners LLC acquired a new stake in shares of Terex in the 3rd quarter valued at about $3,881,000. Bridgewater Associates LP boosted its position in shares of Terex by 176.1% during the third quarter. Bridgewater Associates LP now owns 79,009 shares of the industrial products company’s stock worth $4,180,000 after buying an additional 50,389 shares during the period. Finally, Curated Wealth Partners LLC lifted its position in shares of Terex by 28.3% in 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 in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Insider Buying and Selling at Terex

In related news, CEO Simon Meester sold 9,877 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total value of $505,109.78. Following the transaction, the chief executive officer now directly owns 127,858 shares in the company, valued at approximately $6,538,658.12. This represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David A. Sachs acquired 10,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average price of $51.30 per share, with a total value of $513,000.00. Following the purchase, the director now directly owns 107,500 shares in the company, valued at approximately $5,514,750. This represents a 10.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Terex Stock Performance

Shares of TEX stock opened at $48.55 on Tuesday. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 7.09, a PEG ratio of 4.49 and a beta of 1.55. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39. Terex Co. has a 52 week low of $43.50 and a 52 week high of $68.08. The company has a 50-day simple moving average of $48.89 and a 200 day simple moving average of $52.73.

Terex (NYSE:TEX) last issued its quarterly earnings data 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. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. The business’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.75 earnings per share. On average, sell-side analysts predict that Terex Co. will post 6.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TEX shares. Truist Financial reduced their price target on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. dropped their price target on shares of Terex from $59.00 to $52.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Robert W. Baird cut their price target 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. Finally, Citigroup lowered their price objective on shares of Terex from $57.00 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Terex presently has a consensus rating of “Hold” and an average price target of $56.63.

About Terex

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.