Louisiana State Employees Retirement System Buys New Stake in Terex Co. (NYSE:TEX)

Louisiana State Employees Retirement System bought a new stake in Terex Co. (NYSE:TEX) in the fourth quarter, HoldingsChannel.com reports. The fund bought 18,900 shares of the industrial products company’s stock, valued at approximately $1,086,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. FMR LLC grew its holdings in shares of Terex by 3.9% in the third quarter. FMR LLC now owns 2,691,767 shares of the industrial products company’s stock valued at $155,100,000 after purchasing an additional 102,193 shares in the last quarter. Greenhaven Associates Inc. grew its holdings in shares of Terex by 101.5% in the fourth quarter. Greenhaven Associates Inc. now owns 1,456,700 shares of the industrial products company’s stock valued at $83,702,000 after purchasing an additional 733,690 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Terex by 9.3% in the third quarter. AQR Capital Management LLC now owns 1,137,753 shares of the industrial products company’s stock valued at $65,557,000 after purchasing an additional 96,834 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Terex by 5.0% during the third quarter. Victory Capital Management Inc. now owns 783,981 shares of the industrial products company’s stock worth $45,173,000 after buying an additional 36,990 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new position in Terex during the third quarter valued at $36,672,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TEX has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price objective on the stock. in a research report on Monday, March 18th. UBS Group cut shares of Terex from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $61.00 to $62.00 in a research report on Tuesday, February 13th. Evercore ISI cut their price objective on shares of Terex from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 20th. The Goldman Sachs Group boosted their price objective on shares of Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, February 13th. Finally, Truist Financial assumed coverage on shares of Terex in a research report on Thursday, March 14th. They set a “buy” rating and a $73.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $65.08.

Insider Buying and Selling

In related news, CEO John L. Garrison, Jr. sold 59,094 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 380,834 shares of the company’s stock, valued at $22,876,698.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Terex news, CEO John L. Garrison, Jr. sold 59,094 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $60.07, for a total transaction of $3,549,776.58. Following the completion of the sale, the chief executive officer now directly owns 380,834 shares of the company’s stock, valued at $22,876,698.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joshua Gross sold 4,945 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $59.13, for a total transaction of $292,397.85. Following the sale, the insider now directly owns 21,457 shares of the company’s stock, valued at $1,268,752.41. The disclosure for this sale can be found here. Insiders sold a total of 132,039 shares of company stock valued at $8,078,574 over the last three months. 1.90% of the stock is owned by company insiders.

Terex Stock Up 0.4 %

NYSE:TEX opened at $61.00 on Wednesday. Terex Co. has a 1-year low of $42.50 and a 1-year high of $65.89. The company has a 50-day moving average of $59.82 and a 200 day moving average of $56.18. The firm has a market cap of $4.11 billion, a PE ratio of 8.04, a price-to-earnings-growth ratio of 0.60 and a beta of 1.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.01 and a quick ratio of 0.95.

Terex (NYSE:TEX) last released its quarterly earnings data on Friday, February 9th. The industrial products company reported $1.41 earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the firm earned $1.34 earnings per share. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, research analysts anticipate that Terex Co. will post 6.96 EPS for the current fiscal year.

Terex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Friday, March 8th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Thursday, March 7th. Terex’s dividend payout ratio (DPR) is presently 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.