Terex Co. (NYSE:TEX) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Terex Co. (NYSE:TEX) by 0.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,596,070 shares of the industrial products company’s stock after buying an additional 8,624 shares during the period. Geode Capital Management LLC owned 2.39% of Terex worth $84,463,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vestcor Inc acquired a new stake in shares of Terex in the 3rd quarter worth approximately $497,000. Barclays PLC raised its holdings in Terex by 40.2% during the third quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock worth $6,838,000 after purchasing an additional 37,072 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Terex in the third quarter worth approximately $1,281,000. Orion Portfolio Solutions LLC bought a new position in Terex during the 3rd quarter valued at $217,000. Finally, Zimmer Partners LP increased its position in shares of Terex by 15.6% during the 3rd quarter. Zimmer Partners LP now owns 185,000 shares of the industrial products company’s stock valued at $9,788,000 after purchasing an additional 25,000 shares during the period. Institutional investors own 92.88% of the company’s stock.

Insider Activity at Terex

In other news, Director David A. Sachs acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average cost of $51.30 per share, for a total transaction of $513,000.00. Following the completion of the acquisition, the director now owns 107,500 shares in the company, valued at approximately $5,514,750. The trade was a 10.26 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Simon Meester sold 9,877 shares of the business’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 transaction, the chief executive officer now owns 127,858 shares in the company, valued at $6,538,658.12. This trade represents a 7.17 % decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Terex Trading Down 1.3 %

NYSE TEX opened at $45.20 on Friday. The firm’s 50 day moving average price is $53.10 and its two-hundred day moving average price is $54.28. 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 twelve month low of $44.92 and a twelve month high of $68.08. The stock 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 quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. Terex’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.75 earnings per share. Equities analysts anticipate that Terex Co. will post 6.07 EPS for the current year.

Terex Announces Dividend

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

Analyst Ratings Changes

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

Terex 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.