Cerity Partners LLC Cuts Stake in Terex Co. (NYSE:TEX)

Cerity Partners LLC lessened its stake in shares of Terex Co. (NYSE:TEX - Free Report) by 55.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,930 shares of the industrial products company's stock after selling 13,795 shares during the period. Cerity Partners LLC's holdings in Terex were worth $541,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC lifted its position in Terex by 17.0% in the fourth quarter. FMR LLC now owns 8,782,287 shares of the industrial products company's stock valued at $405,917,000 after buying an additional 1,272,920 shares during the last quarter. Norges Bank acquired a new position in shares of Terex in the 4th quarter worth approximately $35,001,000. American Century Companies Inc. increased its holdings in Terex by 8.4% in the 4th quarter. American Century Companies Inc. now owns 1,741,206 shares of the industrial products company's stock valued at $80,479,000 after purchasing an additional 135,286 shares during the last quarter. Regents Gate Capital LLP acquired a new position in Terex during the fourth quarter worth $5,561,000. Finally, Clearbridge Investments LLC boosted its position in shares of Terex by 20.9% during the fourth quarter. Clearbridge Investments LLC now owns 369,055 shares of the industrial products company's stock worth $17,058,000 after buying an additional 63,854 shares during the period. Institutional investors and hedge funds own 92.88% of the company's stock.

Wall Street Analyst Weigh In

TEX has been the topic of several research reports. Morgan Stanley decreased their target price on Terex from $43.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Evercore ISI reduced their price target on shares of Terex from $63.00 to $59.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. StockNews.com lowered shares of Terex from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Barclays cut their target price on shares of Terex from $60.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Monday, February 10th. Finally, Truist Financial dropped their price target on shares of Terex from $58.00 to $47.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $45.60.

Terex Stock Down 1.1 %

Shares of NYSE TEX traded down $0.40 during midday trading on Friday, hitting $35.93. 533,310 shares of the company's stock were exchanged, compared to its average volume of 896,924. The firm's fifty day simple moving average is $38.23 and its 200-day simple moving average is $45.96. The company has a market cap of $2.38 billion, a PE ratio of 7.24, a P/E/G ratio of 4.53 and a beta of 1.40. Terex Co. has a twelve month low of $31.53 and a twelve month high of $68.08. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09.

Terex (NYSE:TEX - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, topping the consensus estimate 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 last year, the company posted $1.88 EPS. Research analysts predict that Terex Co. will post 4.83 EPS for the current fiscal year.

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.89%. Terex's dividend payout ratio is presently 13.71%.

Insiders Place Their Bets

In other Terex news, Director Andra Rush bought 1,325 shares of Terex stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $36.96 per share, with a total value of $48,972.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.90% of the stock is currently owned by corporate 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.