Terex (NYSE:TEX) Sets New 12-Month Low – Here’s What Happened

Terex Co. (NYSE:TEX)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $44.04 and last traded at $44.07, with a volume of 74944 shares. The stock had previously closed at $44.93.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TEX. Robert W. Baird reduced their target price on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Truist Financial reduced their price objective on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. JPMorgan Chase & Co. lowered their target price on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. The Goldman Sachs Group reduced their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Finally, Citigroup lowered their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $58.78.

Terex Stock Performance

The company has a market capitalization of $2.93 billion, a P/E ratio of 6.40, a P/E/G ratio of 4.00 and a beta of 1.55. 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 company’s fifty day moving average is $50.40 and its 200 day moving average is $53.26.

Terex (NYSE:TEX) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. Terex had a return on equity of 24.92% and a net margin of 9.08%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned $1.75 earnings per share. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, equities analysts anticipate that Terex Co. will post 6.07 earnings per share for the current year.

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 8th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday, November 8th. Terex’s payout ratio is 9.93%.

Insider Activity

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

Hedge Funds Weigh In On Terex

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Chartwell Investment Partners LLC purchased a new position in shares of Terex during the 3rd quarter valued at about $559,000. Edgestream Partners L.P. raised its stake in shares of Terex by 181.6% during the second quarter. Edgestream Partners L.P. now owns 68,898 shares of the industrial products company’s stock worth $3,778,000 after acquiring an additional 44,432 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Terex in the 3rd quarter worth approximately $615,000. AQR Capital Management LLC boosted its stake in shares of Terex by 18.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock valued at $99,045,000 after purchasing an additional 285,750 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Terex by 40.2% during the 3rd quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock valued at $6,838,000 after purchasing an additional 37,072 shares during the last quarter. Hedge funds and other institutional investors 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.