LPL Financial LLC Reduces Holdings in Terex Co. (NYSE:TEX)

LPL Financial LLC reduced its stake in shares of Terex Co. (NYSE:TEX) by 61.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,552 shares of the industrial products company’s stock after selling 50,943 shares during the period. LPL Financial LLC’s holdings in Terex were worth $1,458,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp bought a new position in shares of Terex during the fourth quarter worth about $31,000. Smartleaf Asset Management LLC grew its position in Terex by 46.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Terex in the third quarter valued at approximately $40,000. VisionPoint Advisory Group LLC bought a new stake in shares of Terex during the fourth quarter valued at approximately $51,000. Finally, Blue Trust Inc. grew its holdings in Terex by 26.8% in the 4th quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company’s stock worth $57,000 after buying an additional 260 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Terex from $48.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday. UBS Group cut Terex from a “neutral” rating to a “sell” rating and lowered their price target for the company from $49.00 to $32.00 in a research report on Monday, April 7th. Barclays cut their price objective on Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Citigroup cut their price target on shares of Terex from $45.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, Truist Financial dropped their target price on shares of Terex from $58.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.60.

Terex Price Performance

NYSE:TEX opened at $34.50 on Friday. The stock has a market capitalization of $2.29 billion, a PE ratio of 6.96, a P/E/G ratio of 4.53 and a beta of 1.40. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41. The firm has a fifty day simple moving average of $39.53 and a 200 day simple moving average of $46.66. Terex Co. has a 1-year low of $31.53 and a 1-year high of $68.08.

Terex (NYSE:TEX) last posted its earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same quarter in the previous year, the firm posted $1.88 earnings per share. On average, research analysts expect that Terex Co. will post 4.83 EPS for the current fiscal year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.97%. Terex’s dividend payout ratio (DPR) is 13.71%.

Insider Buying and Selling

In other news, Director Andra Rush bought 1,325 shares of the stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $36.96 per share, with a total value of $48,972.00. Following the completion of the transaction, the director now directly owns 23,308 shares of the company’s stock, valued at $861,463.68. This trade represents a 6.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by 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.