Terex Co. (NYSE:TEX) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its stake in shares of Terex Co. (NYSE:TEX) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 277,672 shares of the industrial products company’s stock after selling 9,834 shares during the quarter. Federated Hermes Inc. owned approximately 0.41% of Terex worth $15,955,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TEX. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Terex by 6.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 26,700 shares of the industrial products company’s stock worth $1,534,000 after acquiring an additional 1,500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Terex by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,196 shares of the industrial products company’s stock worth $931,000 after purchasing an additional 353 shares in the last quarter. Cornercap Investment Counsel Inc. increased its holdings in Terex by 90.9% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 18,121 shares of the industrial products company’s stock valued at $1,041,000 after buying an additional 8,631 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Terex in the fourth quarter valued at $1,086,000. Finally, Perigon Wealth Management LLC lifted its holdings in Terex by 6.8% during the 4th quarter. Perigon Wealth Management LLC now owns 8,831 shares of the industrial products company’s stock worth $507,000 after buying an additional 563 shares during the last quarter. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Terex

In other news, CEO John L. Garrison, Jr. sold 50,000 shares of Terex stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $64.28, for a total transaction of $3,214,000.00. Following the completion of the transaction, the chief executive officer now owns 315,483 shares of the company’s stock, valued at approximately $20,279,247.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO John L. Garrison, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $64.28, for a total transaction of $3,214,000.00. Following the completion of the transaction, the chief executive officer now directly owns 315,483 shares of the company’s stock, valued at approximately $20,279,247.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John L. Garrison, Jr. sold 59,094 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $60.07, for a total value of $3,549,776.58. Following the sale, the chief executive officer now owns 380,834 shares in the company, valued at approximately $22,876,698.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 132,039 shares of company stock valued at $8,078,574. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on TEX. UBS Group downgraded Terex from a “buy” rating to a “neutral” rating and increased their price objective for the company from $61.00 to $62.00 in a report on Tuesday, February 13th. Citigroup raised their price objective on shares of Terex from $54.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Bank of America reissued an “underperform” rating and issued a $57.00 price target on shares of Terex in a research report on Friday, January 19th. JPMorgan Chase & Co. cut Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price objective for the company. in a research note on Monday, March 18th. Finally, Truist Financial began coverage on shares of Terex in a research note on Thursday, March 14th. They set a “buy” rating and a $73.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $65.08.

Terex Stock Performance

NYSE:TEX opened at $60.73 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. Terex Co. has a fifty-two week low of $42.50 and a fifty-two week high of $65.89. The firm’s fifty day simple moving average is $59.71 and its 200-day simple moving average is $56.12. The stock has a market cap of $4.09 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 0.60 and a beta of 1.64.

Terex (NYSE:TEX) last issued its earnings results on Friday, February 9th. The industrial products company reported $1.41 earnings per share for the quarter, hitting the consensus estimate of $1.41. Terex had a net margin of 10.06% and a return on equity of 32.89%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the business posted $1.34 earnings per share. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. Analysts expect that Terex Co. will post 6.96 earnings per share for the current fiscal year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Friday, March 8th were given a dividend of $0.17 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.12%. Terex’s payout ratio is 8.96%.

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.