Ballentine Partners LLC Acquires Shares of 6,705 Terex Corporation (NYSE:TEX)

Ballentine Partners LLC bought a new position in Terex Corporation (NYSE:TEX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,705 shares of the industrial products company's stock, valued at approximately $253,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in Terex by 17.0% during the 4th quarter. FMR LLC now owns 8,782,287 shares of the industrial products company's stock valued at $405,917,000 after purchasing an additional 1,272,920 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in Terex by 94.8% in the fourth 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 increased its holdings in shares of Terex by 43.2% during the fourth quarter. First Trust Advisors LP now owns 1,930,923 shares of the industrial products company's stock worth $89,247,000 after buying an additional 582,819 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Terex by 8.4% during the fourth quarter. American Century Companies Inc. now owns 1,741,206 shares of the industrial products company's stock worth $80,479,000 after buying an additional 135,286 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Terex during the fourth quarter valued at approximately $59,179,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Terex Price Performance

Shares of NYSE:TEX traded down $1.16 during midday trading on Friday, hitting $49.42. The stock had a trading volume of 579,682 shares, compared to its average volume of 914,584. The company's 50-day moving average price is $47.46 and its 200-day moving average price is $43.40. The company has a market capitalization of $3.28 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 5.13 and a beta of 1.58. The company has a quick ratio of 1.07, a current ratio of 2.11 and a debt-to-equity ratio of 1.40. Terex Corporation has a fifty-two week low of $31.53 and a fifty-two week high of $68.08.

Terex (NYSE:TEX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping 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 net margin of 4.89% and a return on equity of 18.79%. The firm's quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.60 EPS. As a group, equities research analysts predict that Terex Corporation will post 4.83 EPS for the current fiscal year.

Terex Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Monday, August 11th. Terex's dividend payout ratio is currently 18.53%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Terex from $43.00 to $50.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Baird R W upgraded shares of Terex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Wall Street Zen upgraded shares of Terex from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. The Goldman Sachs Group upgraded shares of Terex from a "neutral" rating to a "buy" rating and lifted their price target for the company from $45.00 to $60.00 in a research note on Tuesday, May 27th. Finally, Truist Financial lifted their price target on shares of Terex from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Terex presently has an average rating of "Moderate Buy" and a consensus target price of $51.44.

Insider Activity at Terex

In related news, insider Joshua Gross sold 5,389 shares of the 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 transaction, the insider directly owned 38,755 shares of the company's stock, valued at $1,579,266.25. This represents a 12.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.