Victory Capital Management Inc. Raises Stock Position in Terex Co. (NYSE:TEX)

Victory Capital Management Inc. boosted its position in shares of Terex Co. (NYSE:TEX) by 2.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 803,906 shares of the industrial products company’s stock after buying an additional 19,925 shares during the quarter. Victory Capital Management Inc.’s holdings in Terex were worth $46,192,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. FMR LLC raised its stake in Terex by 3.9% during the third quarter. FMR LLC now owns 2,691,767 shares of the industrial products company’s stock worth $155,100,000 after purchasing an additional 102,193 shares during the period. Greenhaven Associates Inc. raised its stake in shares of 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 acquiring an additional 733,690 shares during the period. AQR Capital Management LLC raised its stake in shares of Terex by 9.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,137,753 shares of the industrial products company’s stock valued at $65,557,000 after acquiring an additional 96,834 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in shares of Terex in the 3rd quarter valued at approximately $36,672,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Terex by 3.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 626,658 shares of the industrial products company’s stock valued at $36,108,000 after acquiring an additional 21,795 shares during the period. 92.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO John L. Garrison, Jr. sold 59,094 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 380,834 shares of the company’s stock, valued at approximately $22,876,698.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related 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 value of $3,549,776.58. Following the sale, the chief executive officer now directly owns 380,834 shares of the company’s stock, valued at approximately $22,876,698.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John L. Garrison, Jr. sold 50,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 315,483 shares in the company, valued at $20,279,247.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,039 shares of company stock worth $8,078,574. 1.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. JPMorgan Chase & Co. downgraded 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 reduced their price target on shares of Terex from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 20th. UBS Group cut shares of Terex from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $61.00 to $62.00 in a report on Tuesday, February 13th. Finally, Truist Financial began coverage on shares of Terex in a report on Thursday, March 14th. They issued a “buy” rating and a $73.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $65.17.

Terex Stock Up 1.5 %

TEX stock opened at $58.35 on Monday. The company has a fifty day moving average price of $60.34 and a 200 day moving average price of $56.39. Terex Co. has a 12 month low of $43.70 and a 12 month high of $65.89. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 7.73 and a beta of 1.66. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.16 and a quick ratio of 1.06.

Terex (NYSE:TEX) last released its quarterly earnings results on Friday, February 9th. The industrial products company reported $1.41 EPS for the quarter, meeting the consensus estimate of $1.41. Terex had a net margin of 9.87% and a return on equity of 30.53%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. Terex’s revenue for the quarter was up .4% on a year-over-year basis. Sell-side analysts expect that Terex Co. will post 7.1 earnings per share for the current year.

Terex Dividend Announcement

The company also recently disclosed 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 1.17%. Terex’s payout ratio is currently 9.01%.

Terex 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.