Goldman Sachs Group Inc. Sells 466,818 Shares of Terex Co. (NYSE:TEX)

Goldman Sachs Group Inc. lessened its holdings in Terex Co. (NYSE:TEX) by 49.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 473,900 shares of the industrial products company’s stock after selling 466,818 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Terex were worth $27,230,000 as of its most recent SEC filing.

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

Terex Stock Performance

Terex stock opened at $53.50 on Monday. The company has a current ratio of 2.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. Terex Co. has a 1 year low of $43.70 and a 1 year high of $65.89. The company has a market cap of $3.60 billion, a PE ratio of 7.09 and a beta of 1.61. The company’s 50-day moving average is $58.78 and its two-hundred day moving average is $58.80.

Terex (NYSE:TEX) last released its earnings results on Thursday, April 25th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.23 billion. Equities analysts anticipate that Terex Co. will post 7.09 earnings per share for the current year.

Terex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.68 dividend on an annualized basis and a yield of 1.27%. Terex’s payout ratio is presently 9.01%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TEX. Truist Financial began coverage on shares of Terex in a report on Thursday, March 14th. They issued a “buy” rating and a $73.00 target price on the stock. UBS Group upped their target price on shares of Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. lowered shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 target price on the stock. in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $65.33.

Insider Buying and Selling at Terex

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

Terex 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.