Terex (NYSE:TEX) Price Target Lowered to $58.00 at Truist Financial

Terex (NYSE:TEX) had its price objective reduced by Truist Financial from $65.00 to $58.00 in a report issued on Thursday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other analysts have also recently commented on the stock. Robert W. Baird dropped their target price on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Citigroup dropped their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. The Goldman Sachs Group decreased their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $58.78.

Terex Trading Down 1.3 %

NYSE:TEX opened at $45.20 on Thursday. The company has a 50-day moving average price of $53.10 and a 200-day moving average price of $54.28. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 6.60, a P/E/G ratio of 4.00 and a beta of 1.53. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. Terex has a 12 month low of $44.92 and a 12 month high of $68.08.

Terex (NYSE:TEX) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.15. Terex had a return on equity of 24.92% and a net margin of 9.08%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm posted $1.75 EPS. The business’s revenue was down 6.0% on a year-over-year basis. Equities analysts predict that Terex will post 6.07 EPS for the current year.

Terex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 8th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Friday, November 8th. Terex’s payout ratio is 9.93%.

Insider Activity at Terex

In other news, Director David A. Sachs purchased 20,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were purchased at an average cost of $49.75 per share, for a total transaction of $995,000.00. Following the purchase, the director now directly owns 137,500 shares in the company, valued at approximately $6,840,625. This represents a 17.02 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Simon Meester sold 9,877 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total value of $505,109.78. Following the completion of the transaction, the chief executive officer now directly owns 127,858 shares in the company, valued at $6,538,658.12. The trade was a 7.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TEX. Blue Trust Inc. lifted its position in Terex by 57.5% during the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 187 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Terex by 83.3% during the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 335 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Terex during the 3rd quarter worth approximately $40,000. Truvestments Capital LLC bought a new position in shares of Terex in the third quarter worth approximately $41,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Terex by 74.6% in the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 504 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors.

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.