Tidal Investments LLC Cuts Holdings in Terex Co. (NYSE:TEX)

Tidal Investments LLC decreased its position in Terex Co. (NYSE:TEX) by 24.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,968 shares of the industrial products company’s stock after selling 2,304 shares during the period. Tidal Investments LLC’s holdings in Terex were worth $369,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of 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 acquiring an additional 335 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Terex during the 3rd quarter valued at $40,000. Truvestments Capital LLC bought a new stake in shares of Terex during the 3rd quarter worth $41,000. Blue Trust Inc. boosted its holdings in shares of Terex by 89.3% in the 3rd quarter. Blue Trust Inc. now owns 969 shares of the industrial products company’s stock worth $53,000 after buying an additional 457 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Terex by 74.6% during the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock valued at $62,000 after buying an additional 504 shares during the period. Institutional investors own 92.88% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Simon Meester sold 9,877 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were 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 approximately $6,538,658.12. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Sachs bought 20,000 shares of Terex stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $49.75 per share, for a total transaction of $995,000.00. Following the purchase, the director now owns 137,500 shares of the company’s stock, valued at $6,840,625. The trade was a 17.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company’s stock.

Terex Stock Up 0.5 %

Shares of NYSE TEX opened at $45.29 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.03 billion, a P/E ratio of 6.61, a P/E/G ratio of 4.00 and a beta of 1.53. Terex Co. has a 52 week low of $44.43 and a 52 week high of $68.08. The business has a 50-day simple moving average of $52.69 and a two-hundred day simple moving average of $54.07.

Terex (NYSE:TEX) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.31 by $0.15. Terex had a net margin of 9.08% and a return on equity of 24.92%. 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 company earned $1.75 earnings per share. Terex’s revenue for the quarter was down 6.0% on a year-over-year basis. Research analysts anticipate that Terex Co. will post 6.07 earnings per share for the current fiscal year.

Terex Announces Dividend

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

Analyst Ratings Changes

TEX has been the topic of several research reports. Citigroup lowered their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. Robert W. Baird dropped their price objective on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. decreased their target price 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 dropped their price target on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group decreased their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $58.78.

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.