Terex Co. (NYSE:TEX) Receives Consensus Recommendation of “Hold” from Brokerages

Terex Co. (NYSE:TEX) has been assigned a consensus rating of “Hold” from the twelve ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $63.67.

Several equities analysts recently weighed in on the stock. Citigroup assumed coverage on shares of Terex in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 target price for the company. 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. UBS Group upped their price target on shares of Terex from $62.00 to $64.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Raymond James initiated coverage on shares of Terex in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of Terex from $63.00 to $59.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th.

Terex Stock Performance

Shares of TEX stock opened at $60.43 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 2.16. The company has a market capitalization of $4.07 billion, a P/E ratio of 8.00 and a beta of 1.57. The company’s 50 day moving average price is $56.90 and its two-hundred day moving average price is $58.55. Terex has a 52 week low of $43.70 and a 52 week high of $65.89.

Terex (NYSE:TEX) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.23. Terex had a net margin of 9.87% and a return on equity of 30.53%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.23 billion. On average, analysts expect that Terex will post 7.09 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Thursday, June 6th. Terex’s dividend payout ratio is currently 9.01%.

Insider Activity

In other news, VP Scott Posner sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $60.48, for a total value of $756,000.00. Following the completion of the transaction, the vice president now owns 58,224 shares of the company’s stock, valued at $3,521,387.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Terex news, VP Scott Posner sold 12,500 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $60.48, for a total transaction of $756,000.00. Following the completion of the sale, the vice president now owns 58,224 shares of the company’s stock, valued at approximately $3,521,387.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kieran Hegarty sold 17,190 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $58.26, for a total transaction of $1,001,489.40. Following the sale, the insider now directly owns 200,029 shares of the company’s stock, valued at approximately $11,653,689.54. The disclosure for this sale can be found here. Insiders sold 32,929 shares of company stock valued at $1,958,307 over the last quarter. 1.90% of the stock is owned by company insiders.

Institutional Trading of Terex

Several large investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Terex in the 4th quarter worth $42,606,000. Greenhaven Associates Inc. increased its holdings in Terex by 101.5% in the 4th quarter. Greenhaven Associates Inc. now owns 1,456,700 shares of the industrial products company’s stock worth $83,702,000 after acquiring an additional 733,690 shares during the last quarter. HM Payson & Co. purchased a new stake in Terex in the 1st quarter worth about $24,429,000. Curated Wealth Partners LLC increased its holdings in Terex by 200.0% in the 2nd quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock worth $9,702,000 after acquiring an additional 353,844 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Terex by 94.6% in the 3rd quarter. American Century Companies Inc. now owns 542,048 shares of the industrial products company’s stock worth $31,233,000 after acquiring an additional 263,435 shares during the last quarter. Institutional investors and hedge funds own 92.88% 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.