Terex (NYSE:TEX) Sets New 1-Year Low – What’s Next?

Terex Co. (NYSE:TEX) reached a new 52-week low on Thursday . The company traded as low as $44.32 and last traded at $44.61, with a volume of 250228 shares trading hands. The stock had previously closed at $46.22.

Wall Street Analyst Weigh In

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

Terex Stock Performance

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 has a 50-day moving average price of $51.37 and a two-hundred day moving average price of $53.61. The stock has a market capitalization of $2.95 billion, a P/E ratio of 6.45, a price-to-earnings-growth ratio of 4.00 and a beta of 1.53.

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

Terex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 8th were given a dividend of $0.17 per share. The ex-dividend date was Friday, November 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.54%. Terex’s payout ratio is 9.93%.

Insider Buying and Selling

In related news, Director David A. Sachs purchased 20,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was purchased at an average cost of $49.75 per share, with a total value of $995,000.00. Following the completion of the acquisition, the director now directly owns 137,500 shares of the company’s stock, valued at approximately $6,840,625. The trade was a 17.02 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Simon Meester sold 9,877 shares of the firm’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 transaction, the chief executive officer now owns 127,858 shares of the company’s stock, valued at $6,538,658.12. This trade represents a 7.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of Terex

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its position 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 worth $99,045,000 after buying an additional 285,750 shares during the last quarter. American Century Companies Inc. grew its position in shares of Terex by 25.6% in the 2nd quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock worth $72,538,000 after buying an additional 269,777 shares during the period. Millennium Management LLC lifted its position in Terex by 169.0% during the 2nd quarter. Millennium Management LLC now owns 264,885 shares of the industrial products company’s stock valued at $14,526,000 after acquiring an additional 166,429 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Terex by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock worth $154,224,000 after acquiring an additional 109,885 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Terex in the 3rd quarter worth about $4,283,000. 92.88% of the stock is owned by institutional investors.

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.