Man Group plc reduced its position in Terex Co. (NYSE:TEX - Free Report) by 29.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,004 shares of the industrial products company's stock after selling 8,093 shares during the period. Man Group plc's holdings in Terex were worth $878,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its position in Terex by 46.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company's stock valued at $32,000 after buying an additional 222 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Terex by 0.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 36,671 shares of the industrial products company's stock valued at $1,695,000 after buying an additional 237 shares during the last quarter. Blue Trust Inc. boosted its position in Terex by 26.8% in the 4th quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company's stock valued at $57,000 after buying an additional 260 shares during the last quarter. Barnett & Company Inc. lifted its position in shares of Terex by 4.3% during the fourth quarter. Barnett & Company Inc. now owns 7,300 shares of the industrial products company's stock worth $337,000 after purchasing an additional 300 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its position in shares of Terex by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 83,035 shares of the industrial products company's stock worth $3,838,000 after purchasing an additional 320 shares during the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Terex
In related news, insider Joshua Gross sold 5,389 shares of the firm's stock in a transaction that occurred 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 now owns 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andra Rush acquired 1,325 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the purchase, the director now directly owns 23,308 shares of the company's stock, valued at approximately $861,463.68. This trade represents a 6.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company's stock.
Terex Stock Performance
Shares of NYSE:TEX traded up $0.08 during trading hours on Thursday, hitting $46.20. The stock had a trading volume of 218,859 shares, compared to its average volume of 1,000,752. The stock's fifty day simple moving average is $39.22 and its 200 day simple moving average is $44.16. Terex Co. has a 1-year low of $31.53 and a 1-year high of $68.08. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 9.30, a PEG ratio of 4.53 and a beta of 1.52. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16.
Terex (NYSE:TEX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The industrial products company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.57 by $0.26. Terex had a net margin of 6.54% and a return on equity of 21.99%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business earned $1.60 earnings per share. Terex's revenue was down 4.9% compared to the same quarter last year. Sell-side analysts anticipate that Terex Co. will post 4.83 earnings per share for the current fiscal year.
Terex Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, June 6th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.47%. Terex's dividend payout ratio is presently 18.53%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on TEX shares. JPMorgan Chase & Co. increased their price target on shares of Terex from $38.00 to $43.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Baird R W upgraded shares of Terex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. The Goldman Sachs Group upgraded shares of Terex from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $45.00 to $60.00 in a research note on Tuesday. Wall Street Zen upgraded shares of Terex from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, 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 note on Monday, May 5th. Eight 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 stock. According to data from MarketBeat.com, Terex has a consensus rating of "Hold" and an average target price of $50.20.
View Our Latest Analysis on TEX
About Terex
(
Free Report)
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.
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