Assenagon Asset Management S.A. Boosts Position in Terex Co. (NYSE:TEX)

Assenagon Asset Management S.A. increased its holdings in Terex Co. (NYSE:TEX - Free Report) by 103.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,391 shares of the industrial products company's stock after buying an additional 56,169 shares during the period. Assenagon Asset Management S.A. owned about 0.16% of Terex worth $6,343,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of TEX. Raymond James & Associates raised its stake in Terex by 17.7% in the first quarter. Raymond James & Associates now owns 39,745 shares of the industrial products company's stock worth $1,417,000 after buying an additional 5,990 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Terex during the first quarter worth $291,000. PNC Financial Services Group Inc. increased its position in shares of Terex by 106.6% during the first quarter. PNC Financial Services Group Inc. now owns 10,369 shares of the industrial products company's stock worth $368,000 after purchasing an additional 5,351 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Terex by 42.6% during the first quarter. Acadian Asset Management LLC now owns 4,984 shares of the industrial products company's stock worth $177,000 after purchasing an additional 1,488 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of Terex by 40.1% during the first quarter. MetLife Investment Management LLC now owns 80,649 shares of the industrial products company's stock worth $2,876,000 after purchasing an additional 23,093 shares in the last quarter. Institutional investors own 92.88% of the company's stock.

Terex Price Performance

Shares of TEX stock traded down $0.12 during mid-day trading on Friday, hitting $64.40. 631,646 shares of the stock were exchanged, compared to its average volume of 624,381. The firm has a fifty day moving average of $59.19 and a 200 day moving average of $55.44. The company has a quick ratio of 0.95, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. Terex Co. has a 52-week low of $41.89 and a 52-week high of $65.64. The company has a market cap of $4.31 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 0.64 and a beta of 1.62.

Terex (NYSE:TEX - Get Free Report) last issued its quarterly earnings results on Friday, February 9th. The industrial products company reported $1.41 earnings per share for the quarter, meeting analysts' consensus estimates of $1.41. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. Terex had a net margin of 10.06% and a return on equity of 32.89%. Terex's quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the company posted $1.34 EPS. Research analysts anticipate that Terex Co. will post 6.94 earnings per share for the current year.

Terex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Friday, March 8th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Thursday, March 7th. Terex's dividend payout ratio is presently 8.96%.

Wall Street Analysts Forecast Growth

TEX has been the topic of several research reports. Jefferies Financial Group downgraded Terex from a "buy" rating to a "hold" rating and cut their target price for the company from $73.00 to $63.00 in a research report on Wednesday, December 20th. Bank of America reissued an "underperform" rating and issued a $57.00 target price on shares of Terex in a research report on Friday, January 19th. Truist Financial initiated coverage on Terex in a research report on Thursday, March 14th. They issued a "buy" rating and a $73.00 target price on the stock. UBS Group downgraded Terex from a "buy" rating to a "neutral" rating and upped their target price for the company from $61.00 to $62.00 in a research report on Tuesday, February 13th. Finally, Citigroup upped their price target on shares of Terex from $54.00 to $63.00 and gave the company a "neutral" rating in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $64.21.

Insider Buying and Selling at Terex

In other news, CEO John L. Garrison, Jr. sold 59,094 shares of the firm's stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $60.07, for a total transaction of $3,549,776.58. Following the completion of the sale, the chief executive officer now owns 380,834 shares in the company, valued at approximately $22,876,698.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO John L. Garrison, Jr. sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $64.28, for a total transaction of $3,214,000.00. Following the completion of the sale, the chief executive officer now owns 315,483 shares in the company, valued at approximately $20,279,247.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John L. Garrison, Jr. sold 59,094 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $60.07, for a total transaction of $3,549,776.58. Following the transaction, the chief executive officer now directly owns 380,834 shares of the company's stock, valued at approximately $22,876,698.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,039 shares of company stock worth $8,078,574. Insiders own 2.40% of the company's stock.

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.