M&T Bank Corp Sells 243 Shares of Terex Co. (NYSE:TEX)

M&T Bank Corp reduced its holdings in Terex Co. (NYSE:TEX) by 4.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,241 shares of the industrial products company’s stock after selling 243 shares during the quarter. M&T Bank Corp’s holdings in Terex were worth $277,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in Terex by 57.5% in the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after buying an additional 187 shares in the last quarter. GAMMA Investing LLC lifted its position in Terex by 83.3% during the third quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock valued at $39,000 after buying an additional 335 shares during the period. Truvestments Capital LLC bought a new stake in shares of Terex during the 3rd quarter valued at $41,000. Farther Finance Advisors LLC grew its position in shares of Terex by 74.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after buying an additional 504 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of Terex in the 2nd quarter worth about $109,000. Institutional investors own 92.88% of the company’s stock.

Insider Activity at Terex

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

Analyst Upgrades and Downgrades

TEX has been the topic of a number of recent research reports. Citigroup decreased their target price on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Truist Financial cut their price target on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday. The Goldman Sachs Group lowered their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. JPMorgan Chase & Co. cut their target price on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Finally, Robert W. Baird reduced 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.78.

Terex Trading Down 1.3 %

Shares of TEX stock opened at $45.20 on Friday. 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 Co. has a 12-month low of $44.92 and a 12-month high of $68.08. The stock has a market capitalization of $3.02 billion, a P/E ratio of 6.60, a P/E/G ratio of 4.00 and a beta of 1.53. The firm’s 50 day moving average is $53.10 and its 200 day moving average is $54.28.

Terex (NYSE:TEX) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.16 billion. During the same quarter in the previous year, the company posted $1.75 earnings per share. Terex’s revenue was down 6.0% compared to the same quarter last year. Research analysts expect that Terex Co. will post 6.07 earnings per share for the current year.

Terex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 8th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Friday, November 8th. Terex’s payout ratio is 9.93%.

About Terex

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.