Victory Capital Management Inc. Cuts Stock Holdings in Terex Co. (NYSE:TEX)

Victory Capital Management Inc. lowered its stake in shares of Terex Co. (NYSE:TEX) by 15.8% during the third quarter, HoldingsChannel.com reports. The firm owned 762,478 shares of the industrial products company’s stock after selling 143,057 shares during the period. Victory Capital Management Inc.’s holdings in Terex were worth $40,343,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares 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 worth $28,000 after purchasing an additional 187 shares during the period. GAMMA Investing LLC raised 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 acquiring an additional 335 shares during the period. Farther Finance Advisors LLC raised its stake in shares of 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 during the period. International Assets Investment Management LLC purchased a new position in shares of Terex in the 2nd quarter valued at $109,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Terex in the 2nd quarter valued at $111,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TEX. Robert W. Baird cut their target price on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. The Goldman Sachs Group cut their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. 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 research note on Monday, September 23rd. 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. Finally, JPMorgan Chase & Co. dropped their price target on shares of Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $59.56.

Terex Price Performance

Shares of TEX stock opened at $51.98 on Friday. The firm has a market cap of $3.47 billion, a P/E ratio of 7.59, a P/E/G ratio of 4.17 and a beta of 1.53. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. Terex Co. has a 1-year low of $48.11 and a 1-year high of $68.08. The firm has a fifty day moving average of $53.23 and a two-hundred day moving average of $55.65.

Terex (NYSE:TEX) last posted its quarterly 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. Terex had a net margin of 9.08% and a return on equity of 24.92%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business posted $1.75 EPS. The company’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, research analysts anticipate that Terex Co. will post 6.07 earnings per share for the current fiscal 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 is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.31%. Terex’s dividend payout ratio (DPR) is 9.93%.

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.