Retirement Systems of Alabama Reduces Stock Position in Terex Co. (NYSE:TEX)

Retirement Systems of Alabama decreased its position in Terex Co. (NYSE:TEX) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,268 shares of the industrial products company’s stock after selling 1,795 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of Terex worth $4,300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its position in Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 187 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 purchasing an additional 335 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Terex during the third quarter valued at approximately $40,000. Truvestments Capital LLC purchased a new stake in Terex in the third quarter worth $41,000. Finally, Farther Finance Advisors LLC grew its stake in Terex by 74.6% in the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 504 shares during the period. 92.88% of the stock is owned by institutional investors.

Terex Stock Down 1.3 %

Terex stock opened at $45.20 on Friday. Terex Co. has a 12 month low of $44.92 and a 12 month high of $68.08. The stock has a fifty day simple moving average of $53.10 and a two-hundred day simple moving average of $54.28. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 6.60, a PEG ratio of 4.00 and a beta of 1.53.

Terex (NYSE:TEX) last issued 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 business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. Terex’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.75 EPS. Equities analysts predict that Terex Co. will post 6.07 EPS for the current fiscal year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.50%. Terex’s dividend payout ratio is presently 9.93%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Robert W. Baird lowered their target price on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. The Goldman Sachs Group cut their price target on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Citigroup lowered their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Finally, Truist Financial cut their target price on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Terex presently has a consensus rating of “Hold” and a consensus price target of $58.78.

Insider Activity

In related news, CEO Simon Meester sold 9,877 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total transaction of $505,109.78. Following the completion of the sale, the chief executive officer now directly owns 127,858 shares in the company, valued at approximately $6,538,658.12. The trade was a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David A. Sachs purchased 20,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $49.75 per share, for a total transaction of $995,000.00. Following the completion of the transaction, the director now directly owns 137,500 shares of the company’s stock, valued at approximately $6,840,625. This trade represents a 17.02 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Terex Company 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.