American International Group Inc. Sells 4,520 Shares of Terex Co. (NYSE:TEX)

American International Group Inc. reduced its position in shares of Terex Co. (NYSE:TEX) by 3.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 123,433 shares of the industrial products company’s stock after selling 4,520 shares during the quarter. American International Group Inc.’s holdings in Terex were worth $7,092,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TEX. Blue Trust Inc. increased its stake in Terex by 179.0% during the 4th quarter. Blue Trust Inc. now owns 466 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 299 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in Terex during the 4th quarter valued at about $29,000. OLD Point Trust & Financial Services N A purchased a new stake in shares of Terex during the 4th quarter valued at about $61,000. Parkside Financial Bank & Trust boosted its holdings in shares of Terex by 25.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,200 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 244 shares during the last quarter. Finally, Principal Securities Inc. purchased a new stake in shares of Terex during the 4th quarter valued at about $85,000. 92.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Terex news, VP Scott Posner sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $60.48, for a total transaction of $756,000.00. Following the sale, the vice president now owns 58,224 shares in the company, valued at approximately $3,521,387.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO John L. Garrison, Jr. sold 50,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $64.28, for a total value of $3,214,000.00. Following the transaction, the chief executive officer now owns 315,483 shares of the company’s stock, valued at $20,279,247.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Scott Posner sold 12,500 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $60.48, for a total transaction of $756,000.00. Following the completion of the transaction, the vice president now directly owns 58,224 shares in the company, valued at approximately $3,521,387.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,929 shares of company stock worth $5,172,307. Company insiders own 1.90% of the company’s stock.

Terex Stock Performance

TEX opened at $53.11 on Friday. The company has a current ratio of 2.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 7.03 and a beta of 1.61. The company’s 50 day moving average is $58.98 and its 200 day moving average is $58.68. Terex Co. has a 12-month low of $43.70 and a 12-month high of $65.89.

Terex (NYSE:TEX) last released its earnings results on Thursday, April 25th. The industrial products company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.23. Terex had a net margin of 9.87% and a return on equity of 30.53%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.23 billion. On average, equities research analysts predict that Terex Co. will post 7.09 EPS for the current year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, June 6th. Terex’s payout ratio is 9.01%.

Analyst Upgrades and Downgrades

TEX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. downgraded shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price target on the stock. in a report on Monday, March 18th. Truist Financial initiated coverage on shares of Terex in a report on Thursday, March 14th. They set a “buy” rating and a $73.00 price target on the stock. Finally, UBS Group raised their price target on shares of Terex from $62.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $65.33.

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.