Terex Co. (NYSE:TEX) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its stake in Terex Co. (NYSE:TEX) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,797 shares of the industrial products company’s stock after purchasing an additional 525 shares during the quarter. State of Alaska Department of Revenue’s holdings in Terex were worth $2,528,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Blue Trust Inc. raised its stake in Terex by 57.5% during the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after buying an additional 187 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Terex by 83.3% in the 3rd 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. FinTrust Capital Advisors LLC raised its position in shares of Terex by 202.2% during the 1st quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 465 shares in the last quarter. International Assets Investment Management LLC bought a new position in Terex during the second quarter worth $109,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Terex in the second quarter worth $111,000. Institutional investors own 92.88% of the company’s stock.

Terex Stock Performance

Shares of TEX stock opened at $51.71 on Friday. The business has a 50 day simple moving average of $53.37 and a 200 day simple moving average of $56.17. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.21 and a quick ratio of 1.07. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 7.09, a price-to-earnings-growth ratio of 4.47 and a beta of 1.53. Terex Co. has a 12-month low of $44.38 and a 12-month high of $68.08.

Terex (NYSE:TEX) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.19. Terex had a return on equity of 27.89% and a net margin of 9.55%. 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 prior year, the business posted $1.75 earnings per share. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that Terex Co. will post 5.89 EPS for the current year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.32%. Terex’s dividend payout ratio (DPR) is 9.33%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Robert W. Baird reduced their price target on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday. Citigroup cut their target price on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. The Goldman Sachs Group lowered their target price on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. JPMorgan Chase & Co. reduced their price objective on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Finally, Truist Financial lowered their price objective on Terex from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $59.22.

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.