Renaissance Technologies LLC Reduces Holdings in Terex Co. (NYSE:TEX)

Renaissance Technologies LLC cut its stake in Terex Co. (NYSE:TEX - Free Report) by 94.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,800 shares of the industrial products company's stock after selling 177,000 shares during the period. Renaissance Technologies LLC's holdings in Terex were worth $499,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in Terex by 40.2% in the third quarter. Barclays PLC now owns 129,250 shares of the industrial products company's stock worth $6,838,000 after purchasing an additional 37,072 shares during the period. Virtu Financial LLC acquired a new position in shares of Terex during the third quarter worth approximately $704,000. Wilmington Savings Fund Society FSB acquired a new stake in Terex in the 3rd quarter valued at $40,000. Franklin Resources Inc. increased its stake in Terex by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 81,450 shares of the industrial products company's stock valued at $4,512,000 after purchasing an additional 795 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Terex by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 107,029 shares of the industrial products company's stock valued at $4,888,000 after acquiring an additional 3,608 shares in the last quarter. Institutional investors own 92.88% of the company's stock.

Terex Price Performance

Shares of TEX traded down $0.54 during mid-day trading on Wednesday, reaching $38.97. 1,107,499 shares of the stock traded hands, compared to its average volume of 899,348. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 7.86, a price-to-earnings-growth ratio of 4.53 and a beta of 1.52. Terex Co. has a 1 year low of $31.53 and a 1 year high of $68.08. The firm has a fifty day moving average price of $37.41 and a 200 day moving average price of $45.03. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41.

Terex (NYSE:TEX - Get Free Report) last posted its earnings results on Friday, May 2nd. The industrial products company reported $0.83 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the previous year, the business earned $1.60 earnings per share. The firm's revenue was down 4.9% on a year-over-year basis. As a group, equities research analysts predict that Terex Co. will post 4.83 earnings per share for the current year.

Terex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were paid a $0.17 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.74%. Terex's dividend payout ratio is presently 18.53%.

Wall Street Analysts Forecast Growth

Several analysts have commented on TEX shares. The Goldman Sachs Group lowered their price objective on shares of Terex from $60.00 to $52.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. JPMorgan Chase & Co. increased their price objective on Terex from $38.00 to $43.00 and gave the company a "neutral" rating in a report on Monday. StockNews.com raised Terex from a "sell" rating to a "hold" rating in a research report on Monday. Truist Financial lifted their price objective on Terex from $47.00 to $50.00 and gave the stock a "buy" rating in a report on Monday. Finally, Barclays dropped their price objective on shares of Terex from $60.00 to $52.00 and set an "equal weight" rating on the stock in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $46.40.

Insider Transactions at Terex

In other Terex news, insider Joshua Gross sold 5,389 shares of Terex 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 directly owns 38,755 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, Director Andra Rush acquired 1,325 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $36.96 per share, with a total value of $48,972.00. Following the purchase, the director now directly owns 23,308 shares in the company, valued at $861,463.68. This represents a 6.03 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.90% of the company's stock.

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.