Royce & Associates LP Sells 39,537 Shares of Terex Co. (NYSE:TEX)

Royce & Associates LP cut its position in Terex Co. (NYSE:TEX) by 15.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 211,502 shares of the industrial products company’s stock after selling 39,537 shares during the quarter. Royce & Associates LP’s holdings in Terex were worth $11,191,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Terex by 57.5% during the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 187 shares during the last quarter. GAMMA Investing LLC grew its holdings in Terex by 83.3% during the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 335 shares during the last quarter. Farther Finance Advisors LLC increased its position in Terex by 74.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 504 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Terex in the second quarter worth about $109,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Terex during the second quarter worth approximately $111,000. 92.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TEX has been the subject of several research analyst reports. Citigroup dropped their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. Evercore ISI dropped their target price on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. JPMorgan Chase & Co. decreased their price target on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. The Goldman Sachs Group dropped their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Finally, Truist Financial raised their target price on shares of Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, November 4th. One investment 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 stock currently has a consensus rating of “Hold” and a consensus price target of $59.56.

Terex Price Performance

Terex stock opened at $51.98 on Friday. The firm has a market capitalization of $3.47 billion, a P/E ratio of 7.59, a PEG ratio of 4.20 and a beta of 1.53. The business has a 50-day moving average of $53.23 and a 200-day moving average of $55.64. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. Terex Co. has a 1 year low of $48.11 and a 1 year high of $68.08.

Terex (NYSE:TEX) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.31 by $0.15. The firm had revenue of $1.21 billion during 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 quarter in the prior year, the firm earned $1.75 earnings per share. On average, equities analysts anticipate that Terex Co. will post 6.07 EPS for the current year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, November 8th. This represents a $0.68 annualized dividend and a yield of 1.31%. Terex’s dividend payout ratio is presently 9.93%.

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.