Fisher Asset Management LLC Reduces Stake in Terex Co. (NYSE:TEX)

Fisher Asset Management LLC reduced its position in shares of Terex Co. (NYSE:TEX - Free Report) by 15.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,762,268 shares of the industrial products company's stock after selling 325,486 shares during the quarter. Fisher Asset Management LLC owned 2.62% of Terex worth $101,260,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in shares of Terex by 2.5% during the fourth quarter. Victory Capital Management Inc. now owns 803,906 shares of the industrial products company's stock valued at $46,192,000 after purchasing an additional 19,925 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Terex by 1.6% during the 4th quarter. SummerHaven Investment Management LLC now owns 11,692 shares of the industrial products company's stock valued at $672,000 after acquiring an additional 188 shares during the last quarter. Unique Wealth Strategies LLC bought a new stake in shares of Terex in the fourth quarter worth approximately $669,000. Semanteon Capital Management LP purchased a new position in shares of Terex during the fourth quarter valued at approximately $1,178,000. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Terex by 21.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 51,239 shares of the industrial products company's stock valued at $2,944,000 after purchasing an additional 8,945 shares during the last quarter. Institutional investors own 92.88% of the company's stock.

Insider Transactions at Terex

In other news, CEO John L. Garrison, Jr. sold 50,000 shares of Terex 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 of the company's stock, valued at $20,279,247.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO John L. Garrison, Jr. sold 50,000 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $64.28, for a total transaction of $3,214,000.00. Following the transaction, the chief executive officer now owns 315,483 shares of the company's stock, valued at approximately $20,279,247.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John L. Garrison, Jr. sold 59,094 shares of the firm's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $60.07, for a total value of $3,549,776.58. Following the transaction, the chief executive officer now owns 380,834 shares in the company, valued at approximately $22,876,698.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 132,039 shares of company stock worth $8,078,574. Insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Truist Financial started coverage on Terex in a research note on Thursday, March 14th. They issued a "buy" rating and a $73.00 price target on the stock. Citigroup increased their price objective on shares of Terex from $54.00 to $63.00 and gave the stock a "neutral" rating in a research note on Monday, February 12th. Bank of America restated an "underperform" rating and set a $57.00 target price on shares of Terex in a research report on Friday, January 19th. UBS Group downgraded shares of Terex from a "buy" rating to a "neutral" rating and increased their price target for the stock from $61.00 to $62.00 in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. downgraded shares of Terex from an "overweight" rating to a "neutral" rating and set a $63.00 price objective for the company. in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Terex presently has an average rating of "Hold" and an average target price of $65.17.

Terex Trading Up 1.5 %

Terex stock traded up $0.89 during midday trading on Friday, reaching $58.35. The stock had a trading volume of 610,597 shares, compared to its average volume of 954,319. Terex Co. has a 52-week low of $43.70 and a 52-week high of $65.89. The company has a fifty day moving average of $60.34 and a 200 day moving average of $56.37. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 7.73, a price-to-earnings-growth ratio of 0.56 and a beta of 1.66. The company has a quick ratio of 0.95, a current ratio of 2.16 and a debt-to-equity ratio of 0.42.

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, hitting the consensus estimate of $1.41. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.23 billion. Terex had a return on equity of 30.53% and a net margin of 9.87%. The company's revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the business posted $1.34 earnings per share. On average, analysts anticipate that Terex Co. will post 7.1 earnings per share for the current fiscal year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Friday, March 8th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, March 7th. Terex's dividend payout ratio is currently 9.01%.

Terex Company 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.