Mariner LLC Sells 1,117 Shares of Terex Co. (NYSE:TEX)

Mariner LLC lowered its stake in Terex Co. (NYSE:TEX) by 18.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,995 shares of the industrial products company’s stock after selling 1,117 shares during the quarter. Mariner LLC’s holdings in Terex were worth $231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Barclays PLC increased its stake in Terex by 40.2% in the third 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 in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Terex in the 3rd quarter valued at $40,000. Franklin Resources Inc. raised its stake in Terex by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 81,450 shares of the industrial products company’s stock worth $4,512,000 after buying an additional 795 shares during the period. Nordea Investment Management AB lifted its holdings in Terex by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 107,029 shares of the industrial products company’s stock worth $4,888,000 after acquiring an additional 3,608 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Terex by 1.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 33,839 shares of the industrial products company’s stock valued at $1,564,000 after acquiring an additional 529 shares during the period. 92.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TEX. UBS Group cut Terex from a “neutral” rating to a “sell” rating and cut their price objective for the company from $49.00 to $32.00 in a report on Monday, April 7th. Citigroup cut their price target on shares of Terex from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Truist Financial increased their price objective on shares of Terex from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Terex from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday. Finally, StockNews.com raised Terex from a “sell” rating to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $46.40.

Terex Stock Down 2.2 %

TEX stock opened at $39.61 on Wednesday. Terex Co. has a twelve month low of $31.53 and a twelve month high of $68.08. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 7.98, a P/E/G ratio of 4.53 and a beta of 1.52. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41. The business has a 50 day moving average price of $37.41 and a two-hundred day moving average price of $45.03.

Terex (NYSE:TEX) last issued its earnings results on Friday, May 2nd. The industrial products company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.26. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.26 billion. Terex had a net margin of 6.54% and a return on equity of 21.99%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.60 earnings per share. Analysts anticipate that Terex Co. will post 4.83 EPS for the current fiscal year.

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Friday, March 7th. Terex’s payout ratio is currently 18.53%.

Insiders Place Their Bets

In related news, Director Andra Rush acquired 1,325 shares of the company’s 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 filing with the SEC, which is accessible through the SEC website. Also, insider Joshua Gross sold 5,389 shares of Terex stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $40.75, for a total transaction of $219,601.75. Following the sale, the insider now directly owns 38,755 shares of the company’s stock, valued at $1,579,266.25. The trade was a 12.21 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

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.