Terex Co. (NYSE:TEX) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in shares of Terex Co. (NYSE:TEX) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,206 shares of the industrial products company’s stock after selling 3,548 shares during the period. The Manufacturers Life Insurance Company owned 0.12% of Terex worth $4,085,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Qsemble Capital Management LP purchased a new stake in shares of Terex during the third quarter worth approximately $294,000. Truvestments Capital LLC acquired a new stake in Terex during the 3rd quarter worth $41,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Terex during the third quarter worth $293,000. Cerity Partners LLC raised its position in shares of Terex by 331.8% in the third quarter. Cerity Partners LLC now owns 24,725 shares of the industrial products company’s stock valued at $1,308,000 after buying an additional 18,999 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in shares of Terex by 65.6% in the third quarter. Citigroup Inc. now owns 70,443 shares of the industrial products company’s stock worth $3,727,000 after buying an additional 27,896 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Terex Stock Performance

NYSE TEX opened at $52.94 on Friday. The stock has a market cap of $3.54 billion, a PE ratio of 7.73, a P/E/G ratio of 4.45 and a beta of 1.53. Terex Co. has a twelve month low of $48.11 and a twelve month high of $68.08. The stock has a fifty day simple moving average of $53.70 and a 200-day simple moving average of $54.99. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32.

Terex (NYSE:TEX) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.15. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. Terex’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.75 earnings per share. Equities analysts anticipate that Terex Co. will post 6.07 earnings per share for the current year.

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be 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 is Friday, November 8th. Terex’s dividend payout ratio (DPR) is 9.93%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TEX shares. Evercore ISI dropped their price objective on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. JPMorgan Chase & Co. dropped their price target on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Truist Financial lifted their price objective on Terex from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. The Goldman Sachs Group dropped their target price on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Finally, Citigroup reduced their price target on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $59.56.

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.