Terex (NYSE:TEX) Shares Down 4.6%

Terex Co. (NYSE:TEX) traded down 4.6% during mid-day trading on Thursday . The company traded as low as $52.88 and last traded at $53.26. 184,449 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 818,473 shares. The stock had previously closed at $55.85.

Wall Street Analyst Weigh In

TEX has been the subject of a number of research reports. Truist Financial lifted their price target on Terex from $68.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group boosted their price objective on Terex from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on Terex from $59.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Robert W. Baird upped their price target on Terex from $58.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, Evercore ISI decreased their price objective on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Terex presently has a consensus rating of “Hold” and a consensus price target of $63.30.

Terex Price Performance

The company has a market capitalization of $3.62 billion, a PE ratio of 7.40, a price-to-earnings-growth ratio of 3.61 and a beta of 1.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.21 and a quick ratio of 1.07. The company’s 50 day simple moving average is $55.95 and its 200 day simple moving average is $57.90.

Terex (NYSE:TEX) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.10. Terex had a return on equity of 27.89% and a net margin of 9.55%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the firm posted $2.35 EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts predict that Terex Co. will post 7.21 earnings per share for the current year.

Terex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, August 9th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.68 annualized dividend and a dividend yield of 1.26%. Terex’s dividend payout ratio is presently 9.01%.

Insiders Place Their Bets

In other news, Director Andra Rush purchased 2,205 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $54.36 per share, with a total value of $119,863.80. Following the purchase, the director now directly owns 21,983 shares of the company’s stock, valued at $1,194,995.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Terex

Several large investors have recently added to or reduced their stakes in TEX. Blue Trust Inc. boosted its position in Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 187 shares during the period. FinTrust Capital Advisors LLC boosted its position in shares of Terex by 202.2% during the first quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company’s stock worth $45,000 after buying an additional 465 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in shares of Terex during the fourth quarter worth approximately $61,000. Principal Securities Inc. acquired a new position in shares of Terex during the fourth quarter worth approximately $85,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Terex during the second quarter worth approximately $109,000. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

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.