Terex Co. (NYSE:TEX) Shares Sold by HM Payson & Co.

HM Payson & Co. decreased its stake in shares of Terex Co. (NYSE:TEX) by 40.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 246,170 shares of the industrial products company’s stock after selling 170,280 shares during the period. HM Payson & Co.’s holdings in Terex were worth $13,025,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of Terex by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock worth $154,224,000 after acquiring an additional 109,885 shares in the last quarter. AQR Capital Management LLC increased its holdings in Terex by 18.4% in the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock valued at $99,045,000 after buying an additional 285,750 shares during the last quarter. Greenhaven Associates Inc. raised its stake in Terex by 1.6% during the second quarter. Greenhaven Associates Inc. now owns 1,499,671 shares of the industrial products company’s stock valued at $82,242,000 after buying an additional 23,371 shares in the last quarter. American Century Companies Inc. lifted its holdings in Terex by 25.6% during the 2nd quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock worth $72,538,000 after buying an additional 269,777 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Terex by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 790,118 shares of the industrial products company’s stock worth $43,330,000 after buying an additional 26,377 shares during the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Insider Transactions at Terex

In related news, Director Andra Rush acquired 2,205 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of $54.36 per share, for a total transaction of $119,863.80. Following the completion of the transaction, the director now directly owns 21,983 shares of the company’s stock, valued at approximately $1,194,995.88. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TEX shares. Evercore ISI reduced their target price on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Citigroup reduced their target price on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. Robert W. Baird cut their price target on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday. Truist Financial cut their price target on Terex from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group cut their price target on 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 given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Terex currently has an average rating of “Hold” and an average price target of $59.22.

Terex Price Performance

Shares of TEX stock traded down $0.18 during trading hours on Thursday, hitting $51.35. The company had a trading volume of 15,545 shares, compared to its average volume of 822,255. Terex Co. has a 12 month low of $44.38 and a 12 month high of $68.08. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 7.07, a PEG ratio of 4.47 and a beta of 1.53. The firm’s fifty day moving average is $53.41 and its 200 day moving average is $56.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 2.21.

Terex (NYSE:TEX) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.27 by $0.19. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.16 billion. Terex had a return on equity of 27.89% and a net margin of 9.55%. Terex’s revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.75 EPS. On average, sell-side analysts predict that Terex Co. will post 5.89 EPS for the current fiscal year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Friday, November 8th. Terex’s payout ratio is 9.33%.

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.