New York State Common Retirement Fund Cuts Stake in Terex Corporation (NYSE:TEX)

New York State Common Retirement Fund lessened its stake 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 (SEC). The fund owned 21,186 shares of the industrial products company’s stock after selling 944 shares during the quarter. New York State Common Retirement Fund’s holdings in Terex were worth $800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Neo Ivy Capital Management bought a new position in shares of Terex during the fourth quarter valued at $29,000. UMB Bank n.a. increased its holdings in Terex by 83.0% in the 1st quarter. UMB Bank n.a. now owns 732 shares of the industrial products company’s stock worth $28,000 after buying an additional 332 shares in the last quarter. Private Trust Co. NA raised its position in Terex by 128.0% in the 1st quarter. Private Trust Co. NA now owns 773 shares of the industrial products company’s stock worth $29,000 after buying an additional 434 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Terex by 56.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 847 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 307 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Terex by 88.1% during the 1st quarter. Fifth Third Bancorp now owns 905 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 424 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Wall Street Analyst Weigh In

TEX has been the topic of several research analyst reports. The Goldman Sachs Group raised Terex from a “neutral” rating to a “buy” rating and increased their price target for the company from $45.00 to $60.00 in a report on Tuesday, May 27th. Baird R W upgraded Terex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Truist Financial raised 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. UBS Group boosted their price target on Terex from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Terex from $43.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 10th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.44.

Insider Buying and Selling at Terex

In other news, insider Joshua Gross sold 5,389 shares of the firm’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $40.75, for a total transaction of $219,601.75. Following the completion of the transaction, the insider directly owned 38,755 shares in the company, valued at $1,579,266.25. This trade represents a 12.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.90% of the company’s stock.

Terex Stock Up 0.5%

Shares of TEX opened at $52.27 on Friday. The firm has a market cap of $3.46 billion, a P/E ratio of 14.24, a PEG ratio of 5.30 and a beta of 1.58. Terex Corporation has a 12 month low of $31.53 and a 12 month high of $68.08. The stock’s 50 day moving average is $47.87 and its two-hundred day moving average is $43.60. The company has a current ratio of 2.11, a quick ratio of 1.07 and a debt-to-equity ratio of 1.40.

Terex (NYSE:TEX) last announced its earnings results on Friday, May 2nd. The industrial products company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.26. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Terex had a return on equity of 18.79% and a net margin of 4.89%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.60 earnings per share. Analysts predict that Terex Corporation will post 4.83 earnings per share for the current fiscal year.

Terex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Monday, August 11th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, August 11th. Terex’s dividend payout ratio (DPR) is presently 18.53%.

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.