SkyOak Wealth LLC Sells 508 Shares of Terex Co. (NYSE:TEX)

SkyOak Wealth LLC lessened its stake in Terex Co. (NYSE:TEX) by 9.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,031 shares of the industrial products company’s stock after selling 508 shares during the quarter. SkyOak Wealth LLC’s holdings in Terex were worth $276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TEX. Blue Trust Inc. lifted 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 valued at $28,000 after acquiring an additional 187 shares during the last quarter. FCG Investment Co raised its holdings in shares of Terex by 3.5% in the 2nd quarter. FCG Investment Co now owns 6,534 shares of the industrial products company’s stock valued at $358,000 after purchasing an additional 220 shares during the period. QRG Capital Management Inc. lifted its stake in Terex by 4.4% in the 1st quarter. QRG Capital Management Inc. now owns 5,566 shares of the industrial products company’s stock valued at $358,000 after purchasing an additional 234 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in Terex by 2.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 12,114 shares of the industrial products company’s stock valued at $664,000 after purchasing an additional 258 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in Terex by 1.4% during the second quarter. Arizona State Retirement System now owns 18,757 shares of the industrial products company’s stock worth $1,029,000 after purchasing an additional 261 shares during the period. 92.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Truist Financial raised their price objective on Terex from $68.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group reduced their price objective on shares of Terex from $68.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. The Goldman Sachs Group upped their price objective on shares of Terex from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Robert W. Baird raised their target price on shares of Terex from $58.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, Citigroup assumed coverage on shares of Terex in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.30.

Terex Trading Up 0.7 %

TEX stock opened at $55.86 on Thursday. Terex Co. has a 52 week low of $43.70 and a 52 week high of $68.08. The company has a market capitalization of $3.74 billion, a PE ratio of 7.40, a price-to-earnings-growth ratio of 3.61 and a beta of 1.53. The company’s 50-day simple moving average is $55.95 and its 200 day simple moving average is $57.90. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 2.21.

Terex (NYSE:TEX) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.10. Terex had a net margin of 9.55% and a return on equity of 27.89%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the business posted $2.35 EPS. The business’s revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Terex Co. will post 7.21 earnings per share for the current year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, August 9th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.68 annualized dividend and a yield of 1.22%. Terex’s dividend payout ratio is presently 9.01%.

Insider Activity

In related news, Director Andra Rush purchased 2,205 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $54.36 per share, with a total value of $119,863.80. Following the completion of the purchase, the director now directly owns 21,983 shares in the company, valued at $1,194,995.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.90% of the company’s stock.

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.