Terex Co. (NYSE:TEX) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC reduced 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 institutional investor owned 5,572 shares of the industrial products company’s stock after selling 563 shares during the period. Commonwealth Equity Services LLC’s holdings in Terex were worth $306,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in TEX. Greenhaven Associates Inc. grew its stake in shares of Terex by 1.6% in the second quarter. Greenhaven Associates Inc. now owns 1,499,671 shares of the industrial products company’s stock valued at $82,242,000 after buying an additional 23,371 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Terex by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 790,118 shares of the industrial products company’s stock valued at $43,330,000 after purchasing an additional 26,377 shares during the period. Norges Bank acquired a new position in shares of Terex during the fourth quarter worth $42,606,000. First Trust Advisors LP boosted its stake in shares of Terex by 42.6% in the fourth quarter. First Trust Advisors LP now owns 520,820 shares of the industrial products company’s stock valued at $29,926,000 after purchasing an additional 155,706 shares during the period. Finally, HM Payson & Co. acquired a new stake in Terex during the 1st quarter valued at $24,429,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TEX shares. Truist Financial decreased their price objective on shares of Terex from $74.00 to $63.00 and set a “buy” rating for the company in a research report on Friday. Evercore ISI lowered their price objective on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Citigroup dropped their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday. Raymond James initiated coverage on shares of Terex in a research report on Friday, June 28th. They set a “market perform” rating for the company. Finally, Robert W. Baird upped their price target on Terex from $58.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $60.90.

Insider Activity at Terex

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

Terex Price Performance

Shares of NYSE TEX opened at $52.48 on Tuesday. Terex Co. has a fifty-two week low of $43.70 and a fifty-two week high of $68.08. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. The stock has a market cap of $3.53 billion, a P/E ratio of 6.95, a P/E/G ratio of 3.61 and a beta of 1.53. The firm’s 50-day simple moving average is $55.89 and its 200 day simple moving average is $57.79.

Terex (NYSE:TEX) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.10. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Terex had a return on equity of 27.89% and a net margin of 9.55%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.35 earnings per share. Equities analysts expect that Terex Co. will post 7.21 EPS for the current year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 9th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Friday, August 9th. Terex’s payout ratio is presently 9.01%.

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.