Handelsbanken Fonder AB Sells 4,600 Shares of Terex Co. (NYSE:TEX)

Handelsbanken Fonder AB lowered its position in Terex Co. (NYSE:TEX) by 25.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,353 shares of the industrial products company’s stock after selling 4,600 shares during the period. Handelsbanken Fonder AB’s holdings in Terex were worth $767,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of TEX. Greenhaven Associates Inc. raised its position in Terex by 101.5% in the 4th 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 during the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of Terex in the third quarter valued at about $36,672,000. American Century Companies Inc. lifted its position in Terex by 94.6% during the 3rd quarter. American Century Companies Inc. now owns 542,048 shares of the industrial products company’s stock worth $31,233,000 after buying an additional 263,435 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Terex by 1,231.8% during the 3rd quarter. Lazard Asset Management LLC now owns 146,436 shares of the industrial products company’s stock worth $8,437,000 after acquiring an additional 135,441 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its position in Terex by 247.2% in the 3rd quarter. Panagora Asset Management Inc. now owns 179,498 shares of the industrial products company’s stock valued at $10,343,000 after acquiring an additional 127,792 shares in the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Terex

In other news, insider Kieran Hegarty sold 18,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the completion of the sale, the insider now owns 198,619 shares of the company’s stock, valued at $11,281,559.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Joshua Gross sold 4,945 shares of Terex stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $59.13, for a total value of $292,397.85. Following the sale, the insider now owns 21,457 shares of the company’s stock, valued at approximately $1,268,752.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kieran Hegarty sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the transaction, the insider now directly owns 198,619 shares of the company’s stock, valued at $11,281,559.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 132,039 shares of company stock valued at $8,078,574. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. JPMorgan Chase & Co. cut shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price target on the stock. in a research note on Monday, March 18th. Evercore ISI dropped their target price on Terex from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Tuesday, February 20th. UBS Group cut Terex from a “buy” rating to a “neutral” rating and raised their price target for the company from $61.00 to $62.00 in a report on Tuesday, February 13th. Bank of America reissued an “underperform” rating and set a $57.00 price objective on shares of Terex in a report on Friday, January 19th. Finally, Truist Financial initiated coverage on shares of Terex in a research note on Thursday, March 14th. They issued a “buy” rating and a $73.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.08.

Terex Stock Down 1.1 %

Shares of NYSE:TEX opened at $58.92 on Tuesday. Terex Co. has a 52 week low of $43.70 and a 52 week high of $65.89. The company has a market capitalization of $3.97 billion, a PE ratio of 7.80, a PEG ratio of 0.58 and a beta of 1.64. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 2.16. The company has a 50 day moving average price of $60.13 and a two-hundred day moving average price of $56.32.

Terex (NYSE:TEX) last posted 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 return on equity of 30.53% and a net margin of 9.87%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the company posted $1.34 earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. Analysts forecast that Terex Co. will post 7.05 earnings per share for the current year.

Terex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Friday, March 8th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.68 annualized dividend and a yield of 1.15%. Terex’s dividend payout ratio (DPR) is currently 9.01%.

Terex Company 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.