Terex Corporation (NYSE:TEX) Stake Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in Terex Corporation (NYSE:TEX) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 694,556 shares of the industrial products company’s stock after selling 30,930 shares during the period. Bank of New York Mellon Corp owned about 1.05% of Terex worth $26,240,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Terex by 17.0% during the 4th quarter. FMR LLC now owns 8,782,287 shares of the industrial products company’s stock worth $405,917,000 after purchasing an additional 1,272,920 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Terex by 94.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,150,673 shares of the industrial products company’s stock worth $99,404,000 after purchasing an additional 1,046,600 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Terex by 43.2% during the 4th quarter. First Trust Advisors LP now owns 1,930,923 shares of the industrial products company’s stock worth $89,247,000 after purchasing an additional 582,819 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Terex by 8.4% during the 4th quarter. American Century Companies Inc. now owns 1,741,206 shares of the industrial products company’s stock worth $80,479,000 after purchasing an additional 135,286 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Terex during the 4th quarter worth about $59,179,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Terex Trading Down 0.4%

Shares of NYSE:TEX opened at $49.68 on Thursday. The company has a market capitalization of $3.29 billion, a P/E ratio of 13.54, a P/E/G ratio of 5.19 and a beta of 1.58. Terex Corporation has a 1 year low of $31.53 and a 1 year high of $68.08. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.11 and a quick ratio of 1.07. The business’s 50 day simple moving average is $47.10 and its 200 day simple moving average is $43.36.

Terex (NYSE:TEX) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.26. Terex had a return on equity of 18.79% and a net margin of 4.89%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the business posted $1.60 EPS. Terex’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, research analysts anticipate that Terex Corporation will post 4.83 EPS for the current fiscal year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.17 dividend. The ex-dividend date was Friday, June 6th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.37%. Terex’s payout ratio is presently 18.53%.

Insider Buying and Selling at Terex

In other Terex news, insider Joshua Gross sold 5,389 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $40.75, for a total transaction of $219,601.75. Following the sale, the insider owned 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 1.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TEX. JPMorgan Chase & Co. upped their target price on Terex from $43.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 10th. Truist Financial upped their target price on Terex from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, July 3rd. The Goldman Sachs Group raised Terex from a “neutral” rating to a “buy” rating and upped their target price for the stock from $45.00 to $60.00 in a research report on Tuesday, May 27th. Robert W. Baird raised Terex from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $48.00 to $66.00 in a research report on Tuesday, May 13th. Finally, UBS Group raised their target price on Terex from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, July 10th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.44.

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.