NEOS Investment Management LLC Has $2.85 Million Position in Terex Co. (NYSE:TEX)

NEOS Investment Management LLC boosted its stake in shares of Terex Co. (NYSE:TEX) by 22.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,544 shares of the industrial products company’s stock after purchasing an additional 11,461 shares during the period. NEOS Investment Management LLC owned about 0.09% of Terex worth $2,845,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TEX. Jones Financial Companies Lllp purchased a new position in shares of Terex during the 4th quarter valued at $31,000. Smartleaf Asset Management LLC grew its stake in Terex by 46.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Terex during the 3rd quarter worth about $40,000. VisionPoint Advisory Group LLC purchased a new stake in shares of Terex during the 4th quarter worth about $51,000. Finally, Blue Trust Inc. lifted its holdings in shares of Terex by 26.8% during the 4th quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company’s stock valued at $57,000 after buying an additional 260 shares during the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Analyst Upgrades and Downgrades

TEX has been the topic of several recent research reports. Citigroup cut their price objective on shares of Terex from $48.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Evercore ISI cut their price target on shares of Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price objective on shares of Terex from $51.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, March 18th. Barclays cut their target price on Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Finally, 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Terex presently has a consensus rating of “Hold” and an average target price of $54.22.

Insiders Place Their Bets

In other news, Director Andra Rush acquired 1,325 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $36.96 per share, with a total value of $48,972.00. Following the acquisition, the director now owns 23,308 shares of the company’s stock, valued at $861,463.68. This trade represents a 6.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.90% of the company’s stock.

Terex Trading Down 4.0 %

Terex stock opened at $38.47 on Friday. Terex Co. has a 52 week low of $36.15 and a 52 week high of $68.08. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16. The firm has a market capitalization of $2.55 billion, a PE ratio of 7.76, a PEG ratio of 4.53 and a beta of 1.56. The business’s 50-day simple moving average is $43.45 and its 200-day simple moving average is $48.54.

Terex (NYSE:TEX) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, topping 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 posted $1.88 EPS. Equities research analysts forecast that Terex Co. will post 4.83 earnings per share for the current year.

Terex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were issued a $0.17 dividend. 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 dividend payout ratio (DPR) is presently 13.71%.

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.