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

Rhumbline Advisers reduced its holdings in shares of Terex Co. (NYSE:TEX - Free Report) by 3.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 224,967 shares of the industrial products company's stock after selling 8,996 shares during the quarter. Rhumbline Advisers owned approximately 0.34% of Terex worth $8,499,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cascade Investment Advisors Inc. boosted its stake in Terex by 4.8% in the 1st quarter. Cascade Investment Advisors Inc. now owns 24,255 shares of the industrial products company's stock valued at $916,000 after purchasing an additional 1,105 shares during the period. GAMMA Investing LLC grew its stake in shares of Terex by 6,144.2% in the first quarter. GAMMA Investing LLC now owns 49,454 shares of the industrial products company's stock valued at $1,868,000 after acquiring an additional 48,662 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Terex in the fourth quarter valued at about $59,179,000. Mackenzie Financial Corp increased its position in Terex by 124.9% during the fourth quarter. Mackenzie Financial Corp now owns 9,897 shares of the industrial products company's stock worth $457,000 after acquiring an additional 5,497 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in Terex in the 4th quarter worth about $29,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JPMorgan Chase & Co. raised their price target on Terex from $43.00 to $50.00 and gave the stock a "neutral" rating in a research report on Tuesday. Truist Financial upped their price target on shares of Terex from $47.00 to $50.00 and gave the company a "buy" rating in a research report on Monday, May 5th. UBS Group upgraded Terex from a "sell" rating to a "neutral" rating and increased their target price for the stock from $34.00 to $48.00 in a report on Friday, May 16th. The Goldman Sachs Group upgraded Terex from a "neutral" rating to a "buy" rating and raised their target price for the company from $45.00 to $60.00 in a report on Tuesday, May 27th. Finally, Robert W. Baird raised Terex from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $48.00 to $66.00 in a research report on Tuesday, May 13th. Eight analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $50.90.

Insider Buying and Selling

In other news, insider Joshua Gross sold 5,389 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $40.75, for a total value of $219,601.75. Following the completion of the transaction, the insider now owns 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.90% of the stock is owned by insiders.

Terex Stock Down 2.4%

Shares of TEX stock traded down $1.18 during mid-day trading on Thursday, reaching $47.15. 161,862 shares of the company's stock traded hands, compared to its average volume of 920,800. Terex Co. has a 12 month low of $31.53 and a 12 month high of $68.08. The company has a market cap of $3.13 billion, a P/E ratio of 9.51, a P/E/G ratio of 4.53 and a beta of 1.60. The company's 50-day moving average price is $40.75 and its 200-day moving average price is $43.72. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41.

Terex (NYSE:TEX - Get Free Report) last issued its earnings results on Friday, May 2nd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The business's revenue was down 4.9% on a year-over-year basis. On average, equities analysts expect 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. Stockholders of record on Friday, June 6th will be paid a $0.17 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.68 annualized dividend and a dividend yield of 1.44%. Terex's dividend payout ratio (DPR) is 18.53%.

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.