State of New Jersey Common Pension Fund D Has $1.75 Million Position in Terex Co. (NYSE:TEX)

State of New Jersey Common Pension Fund D trimmed its position in shares of Terex Co. (NYSE:TEX) by 37.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,984 shares of the industrial products company’s stock after selling 19,255 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Terex were worth $1,754,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in Terex by 57.5% in the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after buying an additional 187 shares during the last quarter. FinTrust Capital Advisors LLC raised its stake 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 valued at $45,000 after acquiring an additional 465 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new stake in shares of Terex in the fourth quarter worth $61,000. International Assets Investment Management LLC bought a new stake in shares of Terex in the second quarter worth $109,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in Terex in the second quarter valued at $111,000. 92.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TEX has been the topic of several recent research reports. Raymond James started coverage on Terex in a report on Friday, June 28th. They set a “market perform” rating on the stock. Truist Financial cut their price objective on Terex from $74.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Robert W. Baird increased their target price on shares of Terex from $58.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Citigroup dropped their price target on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.90.

Terex Stock Up 1.5 %

Shares of NYSE TEX opened at $53.28 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. The firm has a market cap of $3.59 billion, a PE ratio of 7.06, a P/E/G ratio of 3.61 and a beta of 1.53. The company’s fifty day simple moving average is $55.75 and its 200 day simple moving average is $57.75. Terex Co. has a 12-month low of $43.70 and a 12-month high of $68.08.

Terex (NYSE:TEX) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.10. Terex had a net margin of 9.55% and a return on equity of 27.89%. 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 prior year, the firm earned $2.35 EPS. The business’s revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that Terex Co. will post 7.21 earnings per share for the current fiscal year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 9th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Friday, August 9th. Terex’s payout ratio is 9.01%.

Insider Buying and Selling

In other Terex news, Director Andra Rush purchased 2,205 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the purchase, the director now owns 21,983 shares of the company’s stock, valued at approximately $1,194,995.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is owned by company insiders.

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.