Barclays PLC Grows Position in Terex Co. (NYSE:TEX)

Barclays PLC grew its stake in Terex Co. (NYSE:TEX) by 40.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,250 shares of the industrial products company’s stock after buying an additional 37,072 shares during the quarter. Barclays PLC’s holdings in Terex were worth $6,838,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TEX. Chartwell Investment Partners LLC purchased a new stake in Terex in the 3rd quarter worth approximately $559,000. Edgestream Partners L.P. increased its stake in shares of Terex by 181.6% in the second quarter. Edgestream Partners L.P. now owns 68,898 shares of the industrial products company’s stock worth $3,778,000 after purchasing an additional 44,432 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Terex during the 3rd quarter valued at $615,000. AQR Capital Management LLC lifted its stake in shares of Terex by 18.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock valued at $99,045,000 after buying an additional 285,750 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Terex in the 3rd quarter worth $4,283,000. Institutional investors own 92.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TEX. Citigroup decreased their price target on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. JPMorgan Chase & Co. decreased their target price on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. The Goldman Sachs Group dropped their price target on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Robert W. Baird reduced their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Truist Financial upped their target price on shares of Terex from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $59.56.

Terex Trading Down 3.2 %

TEX stock opened at $45.78 on Thursday. The firm has a market cap of $3.06 billion, a PE ratio of 6.68, a price-to-earnings-growth ratio of 4.00 and a beta of 1.53. The firm has a fifty day moving average price of $53.26 and a 200 day moving average price of $54.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39. Terex Co. has a fifty-two week low of $45.22 and a fifty-two week high of $68.08.

Terex (NYSE:TEX) last posted its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. The business’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.75 EPS. Sell-side analysts anticipate that Terex Co. will post 6.07 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently disclosed 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 yield of 1.49%. Terex’s dividend payout ratio (DPR) is presently 9.93%.

Insider Activity

In other Terex news, CEO Simon Meester sold 9,877 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $6,538,658.12. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David A. Sachs bought 20,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were acquired 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 approximately $6,840,625. The trade was a 17.02 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company’s stock.

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.