HM Payson & Co. Sells 238,303 Shares of Terex Co. (NYSE:TEX)

HM Payson & Co. lessened its holdings in Terex Co. (NYSE:TEX) by 96.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,867 shares of the industrial products company’s stock after selling 238,303 shares during the period. HM Payson & Co.’s holdings in Terex were worth $364,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Edgestream Partners L.P. grew its position in Terex by 3.8% in the fourth quarter. Edgestream Partners L.P. now owns 77,830 shares of the industrial products company’s stock valued at $3,597,000 after acquiring an additional 2,849 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Terex during the fourth quarter valued at about $643,000. Raymond James Financial Inc. acquired a new stake in shares of Terex during the fourth quarter valued at about $2,291,000. Proficio Capital Partners LLC acquired a new stake in shares of Terex during the fourth quarter valued at about $1,424,000. Finally, M&T Bank Corp boosted its stake in shares of Terex by 13.0% during the fourth quarter. M&T Bank Corp now owns 5,923 shares of the industrial products company’s stock valued at $274,000 after purchasing an additional 682 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TEX. Barclays cut their price target on Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. StockNews.com lowered Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Truist Financial cut their price objective on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Evercore ISI cut their price objective on Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, Citigroup cut their price objective on Terex from $57.00 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $56.11.

Terex Trading Up 1.5 %

NYSE TEX opened at $41.02 on Monday. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 8.27, a P/E/G ratio of 4.53 and a beta of 1.56. Terex Co. has a 52 week low of $36.15 and a 52 week high of $68.08. The business has a 50 day moving average price of $45.20 and a 200-day moving average price of $49.95. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41.

Terex (NYSE:TEX) last released its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 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 quarter in the prior year, the business earned $1.88 earnings per share. As a group, equities analysts expect that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, March 7th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.68 annualized dividend and a yield of 1.66%. Terex’s dividend payout ratio (DPR) is currently 13.71%.

Insider Buying and Selling

In related news, Director Andra Rush purchased 1,325 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the acquisition, the director now owns 23,308 shares of the company’s stock, valued at $861,463.68. This represents a 6.03 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $51.14, for a total value of $505,109.78. Following the sale, the chief executive officer now owns 127,858 shares of the company’s stock, valued at $6,538,658.12. This trade represents a 7.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 31,325 shares of company stock worth $1,556,972. 1.90% of the stock is owned by corporate insiders.

Terex 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.