Vestcor Inc Acquires 5,250 Shares of Terex Co. (NYSE:TEX)

Vestcor Inc boosted its holdings in Terex Co. (NYSE:TEX) by 55.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,650 shares of the industrial products company’s stock after purchasing an additional 5,250 shares during the period. Vestcor Inc’s holdings in Terex were worth $677,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in shares of Terex by 46.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 222 shares during the last quarter. Lingohr Asset Management GmbH raised its stake in shares of Terex by 2.0% during the third quarter. Lingohr Asset Management GmbH now owns 11,516 shares of the industrial products company’s stock valued at $607,000 after acquiring an additional 230 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Terex by 26.8% during the fourth quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 260 shares during the last quarter. New York State Teachers Retirement System raised its stake in shares of Terex by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 83,035 shares of the industrial products company’s stock valued at $3,838,000 after acquiring an additional 320 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Terex by 2.2% during the fourth quarter. New York State Common Retirement Fund now owns 22,130 shares of the industrial products company’s stock valued at $1,023,000 after buying an additional 467 shares during the period. 92.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays reduced their price target on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Truist Financial reduced their price target on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. reduced 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. StockNews.com cut shares of Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Finally, Evercore ISI reduced their price target on shares of Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $56.11.

Insider Activity

In related news, Director Andra Rush acquired 1,325 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the transaction, the director now directly owns 23,308 shares in the company, valued at approximately $861,463.68. This trade represents a 6.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Terex Price Performance

Shares of TEX opened at $40.37 on Monday. The stock has a market cap of $2.68 billion, a PE ratio of 8.14, a price-to-earnings-growth ratio of 4.53 and a beta of 1.56. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16. Terex Co. has a fifty-two week low of $36.15 and a fifty-two week high of $68.08. The firm’s 50-day simple moving average is $44.65 and its two-hundred day simple moving average is $49.42.

Terex (NYSE:TEX) last posted its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same quarter in the previous year, the business earned $1.88 EPS. Analysts anticipate that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Friday, March 7th. Terex’s payout ratio is 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.