Terex Co. (NYSE:TEX) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in shares of Terex Co. (NYSE:TEX) by 73.5% during the third quarter, Holdings Channel reports. The fund owned 15,717 shares of the industrial products company’s stock after selling 43,512 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Terex were worth $832,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its position in Terex by 57.5% during the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 187 shares during the period. GAMMA Investing LLC grew its holdings in shares of Terex by 83.3% during the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 335 shares during the period. Farther Finance Advisors LLC increased its position in Terex by 74.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 504 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Terex in the second quarter valued at approximately $109,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Terex during the second quarter valued at approximately $111,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Terex Stock Performance

Shares of TEX opened at $55.18 on Wednesday. The company has a market capitalization of $3.69 billion, a PE ratio of 8.07, a PEG ratio of 4.46 and a beta of 1.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39. The company’s 50 day moving average price is $53.56 and its 200 day moving average price is $55.11. Terex Co. has a 52 week low of $48.11 and a 52 week high of $68.08.

Terex (NYSE:TEX) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. The firm’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.75 earnings per share. Research analysts expect that Terex Co. will post 6.07 EPS for the current fiscal year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Friday, November 8th. Terex’s dividend payout ratio is 9.93%.

Analyst Upgrades and Downgrades

Several research analysts have commented on TEX shares. The Goldman Sachs Group cut their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Robert W. Baird dropped their target price on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Citigroup reduced their price target on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Finally, Truist Financial boosted their target price on shares of Terex from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Terex has an average rating of “Hold” and an average target price of $59.56.

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.