Rhumbline Advisers Sells 8,996 Shares of Terex Co. (NYSE:TEX)

Rhumbline Advisers lowered its holdings in shares of Terex Co. (NYSE:TEX - Free Report) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 224,967 shares of the industrial products company's stock after selling 8,996 shares during the quarter. Rhumbline Advisers owned 0.34% of Terex worth $8,499,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TEX. FMR LLC lifted its stake in Terex by 17.0% in the 4th quarter. FMR LLC now owns 8,782,287 shares of the industrial products company's stock valued at $405,917,000 after acquiring an additional 1,272,920 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Terex by 94.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,150,673 shares of the industrial products company's stock valued at $99,404,000 after acquiring an additional 1,046,600 shares in the last quarter. First Trust Advisors LP lifted its stake in Terex by 43.2% in the 4th quarter. First Trust Advisors LP now owns 1,930,923 shares of the industrial products company's stock valued at $89,247,000 after acquiring an additional 582,819 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Terex by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 1,890,625 shares of the industrial products company's stock valued at $87,385,000 after acquiring an additional 41,685 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake 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 acquiring an additional 135,286 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company's stock.

Terex Stock Performance

TEX traded down $1.37 during trading hours on Friday, reaching $45.96. The company's stock had a trading volume of 927,055 shares, compared to its average volume of 923,229. Terex Co. has a 52 week low of $31.53 and a 52 week high of $68.08. The company's 50-day moving average is $41.32 and its 200-day moving average is $43.60. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16. The firm has a market cap of $3.05 billion, a PE ratio of 9.27, a price-to-earnings-growth ratio of 4.53 and a beta of 1.60.

Terex (NYSE:TEX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.26. Terex had a return on equity of 21.99% and a net margin of 6.54%. The business had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter in the prior year, the business earned $1.60 EPS. The firm's revenue for the quarter was down 4.9% on a year-over-year basis. On average, equities analysts forecast that Terex Co. will post 4.83 EPS for the current year.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Friday, June 6th. Terex's dividend payout ratio is 18.53%.

Insider Buying and Selling at Terex

In other Terex news, insider Joshua Gross sold 5,389 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $40.75, for a total value of $219,601.75. Following the transaction, the insider now directly owns 38,755 shares of the company's stock, valued at $1,579,266.25. This represents a 12.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Truist Financial boosted their target price on Terex from $47.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Morgan Stanley lowered their price target on Terex from $43.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group raised Terex from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $45.00 to $60.00 in a research report on Tuesday, May 27th. UBS Group raised Terex from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $34.00 to $48.00 in a research report on Friday, May 16th. Finally, Wall Street Zen raised Terex from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Terex currently has a consensus rating of "Hold" and a consensus price target of $50.90.

About Terex

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.