State Street Corp Has $129.48 Million Position in Terex Co. (NYSE:TEX)

State Street Corp decreased its holdings in shares of Terex Co. (NYSE:TEX) by 0.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,447,233 shares of the industrial products company’s stock after selling 23,356 shares during the period. State Street Corp’s holdings in Terex were worth $129,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in shares of 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 buying an additional 187 shares during the last quarter. GAMMA Investing LLC raised its holdings in Terex by 83.3% in the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 335 shares during the period. Truvestments Capital LLC acquired a new stake in Terex during the third quarter worth approximately $41,000. Farther Finance Advisors LLC boosted its holdings in shares of Terex by 74.6% during the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 504 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of Terex in the second quarter valued at approximately $109,000. 92.88% of the stock is owned by institutional investors.

Insider Activity at Terex

In other news, CEO Simon Meester sold 9,877 shares of Terex stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total transaction of $505,109.78. Following the sale, the chief executive officer now directly owns 127,858 shares of the company’s stock, valued at approximately $6,538,658.12. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David A. Sachs acquired 10,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average cost of $51.30 per share, with a total value of $513,000.00. Following the purchase, the director now directly owns 107,500 shares of the company’s stock, valued at $5,514,750. This trade represents a 10.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by insiders.

Terex Stock Performance

Shares of NYSE:TEX opened at $49.55 on Friday. Terex Co. has a 1 year low of $48.11 and a 1 year high of $68.08. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 7.23, a price-to-earnings-growth ratio of 4.00 and a beta of 1.53. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. The company’s 50 day simple moving average is $53.61 and its 200 day simple moving average is $54.59.

Terex (NYSE:TEX) last posted its quarterly earnings results 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. Terex had a return on equity of 24.92% and a net margin of 9.08%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the firm earned $1.75 EPS. Terex’s revenue was down 6.0% on a year-over-year basis. As a group, research analysts predict that Terex Co. will post 6.07 EPS for the current fiscal year.

Terex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.37%. Terex’s payout ratio is currently 9.93%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TEX. Robert W. Baird dropped their price target on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Citigroup dropped their target price on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. JPMorgan Chase & Co. decreased their price target on shares of Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. 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. Finally, Truist Financial increased 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 research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Terex has an average rating of “Hold” and an average price target 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.