Terex (NYSE:TEX) Hits New 1-Year Low – Here’s What Happened

Shares of Terex Co. (NYSE:TEX) hit a new 52-week low on Monday . The stock traded as low as $44.55 and last traded at $44.61, with a volume of 59877 shares trading hands. The stock had previously closed at $45.07.

Analysts Set New Price Targets

TEX has been the topic of several analyst reports. Citigroup dropped their price target on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. The Goldman Sachs Group dropped their target price on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Truist Financial reduced their price target on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. dropped their price objective on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, Robert W. Baird reduced their target price on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $58.78.

Terex Trading Up 0.0 %

The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 6.61, a price-to-earnings-growth ratio of 4.00 and a beta of 1.53. The firm has a 50-day moving average price of $52.48 and a 200 day moving average price of $53.99.

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. Terex had a net margin of 9.08% and a return on equity of 24.92%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company posted $1.75 earnings per share. The firm’s revenue was down 6.0% on a year-over-year basis. As a group, sell-side analysts forecast that Terex Co. will post 6.07 EPS 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 given a dividend of $0.17 per share. 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 dividend payout ratio is presently 9.93%.

Insider Buying and Selling

In related news, Director David A. Sachs acquired 20,000 shares of the 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 directly owns 137,500 shares in the company, valued at $6,840,625. This represents a 17.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Simon Meester sold 9,877 shares of the firm’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 sale, the chief executive officer now owns 127,858 shares in the company, valued at $6,538,658.12. The trade was a 7.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TEX. GAMMA Investing LLC raised its holdings 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 buying an additional 335 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Terex in the 3rd quarter valued at approximately $40,000. Truvestments Capital LLC bought a new stake in Terex during the 3rd quarter valued at $41,000. Blue Trust Inc. boosted its position in Terex by 89.3% during the 3rd quarter. Blue Trust Inc. now owns 969 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 457 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of Terex by 74.6% in the third 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. 92.88% of the stock is owned by institutional investors and hedge funds.

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.