Alliancebernstein L.P. Lowers Holdings in Terex Co. (NYSE:TEX)

Alliancebernstein L.P. trimmed its position in shares of Terex Co. (NYSE:TEX) by 6.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 130,771 shares of the industrial products company’s stock after selling 8,589 shares during the quarter. Alliancebernstein L.P. owned about 0.20% of Terex worth $6,044,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cascade Investment Advisors Inc. purchased a new stake in shares of Terex during the fourth quarter valued at approximately $1,070,000. Norges Bank bought a new position in Terex in the 4th quarter valued at approximately $35,001,000. KLP Kapitalforvaltning AS purchased a new stake in Terex during the 4th quarter valued at $610,000. Barclays PLC boosted its stake in Terex by 40.2% during the 3rd quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock valued at $6,838,000 after purchasing an additional 37,072 shares during the last quarter. Finally, J2 Capital Management Inc bought a new stake in shares of Terex in the 4th quarter worth $353,000. 92.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on TEX. The Goldman Sachs Group dropped their price objective on Terex from $60.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Evercore ISI dropped their price target on shares of Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Truist Financial decreased their price objective on shares of Terex from $58.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. StockNews.com cut shares of Terex from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Terex from $51.00 to $48.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Terex currently has a consensus rating of “Hold” and an average price target of $48.44.

Terex Trading Up 2.2 %

Shares of TEX stock opened at $34.95 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 7.05, a PEG ratio of 4.53 and a beta of 1.40. Terex Co. has a 1 year low of $31.53 and a 1 year high of $68.08. The firm has a fifty day moving average price of $40.44 and a 200-day moving average price of $47.12.

Terex (NYSE:TEX) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.01. Terex had a return on equity of 21.99% and a net margin of 6.54%. During the same quarter last year, the firm earned $1.88 earnings per share. As a group, equities analysts predict that Terex Co. will post 4.83 earnings per share for the current year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Friday, March 7th. Terex’s payout ratio is 13.71%.

Insiders Place Their Bets

In other Terex news, Director Andra Rush purchased 1,325 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the purchase, the director now owns 23,308 shares of the company’s stock, valued at approximately $861,463.68. This represents a 6.03 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by company insiders.

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.