California Public Employees Retirement System Purchases 4,737 Shares of Terex Co. (NYSE:TEX)

California Public Employees Retirement System boosted its position in Terex Co. (NYSE:TEX) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 137,551 shares of the industrial products company’s stock after purchasing an additional 4,737 shares during the period. California Public Employees Retirement System owned approximately 0.20% of Terex worth $7,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in TEX. FinTrust Capital Advisors LLC bought a new stake in Terex in the third quarter worth about $31,000. Raymond James Financial Services Advisors Inc. increased its position in shares of Terex by 12.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 7,670 shares of the industrial products company’s stock worth $442,000 after acquiring an additional 851 shares during the period. Stratos Wealth Partners LTD. purchased a new position in shares of Terex during the third quarter worth approximately $602,000. Bailard Inc. increased its position in shares of Terex by 13.5% during the third quarter. Bailard Inc. now owns 5,045 shares of the industrial products company’s stock worth $291,000 after acquiring an additional 600 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Terex by 16.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,843 shares of the industrial products company’s stock worth $913,000 after acquiring an additional 2,266 shares during the period. Institutional investors own 92.88% of the company’s stock.

Insiders Place Their Bets

In other news, CEO John L. Garrison, Jr. sold 50,000 shares of Terex stock in a transaction 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 directly owns 315,483 shares in the company, valued at $20,279,247.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO John L. Garrison, Jr. sold 50,000 shares of Terex stock in a transaction 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 directly owns 315,483 shares in the company, valued at $20,279,247.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kieran Hegarty sold 18,000 shares of Terex stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the sale, the insider now owns 198,619 shares of the company’s stock, valued at $11,281,559.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,039 shares of company stock valued at $8,078,574. 1.90% of the stock is currently owned by insiders.

Terex Price Performance

NYSE TEX opened at $58.36 on Friday. The firm’s fifty day simple moving average is $60.25 and its two-hundred day simple moving average is $56.34. The company has a current ratio of 2.16, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. Terex Co. has a 12-month low of $43.70 and a 12-month high of $65.89. The firm has a market capitalization of $3.93 billion, a P/E ratio of 7.73, a P/E/G ratio of 0.54 and a beta of 1.66.

Terex (NYSE:TEX) last released its quarterly earnings results on Friday, February 9th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.41. Terex had a net margin of 9.87% and a return on equity of 30.53%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the company earned $1.34 earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis. Analysts forecast that Terex Co. will post 7.1 EPS for the current fiscal year.

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Friday, March 8th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.17%. The ex-dividend date was Thursday, March 7th. Terex’s dividend payout ratio is currently 9.01%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TEX. UBS Group lowered shares of Terex from a “buy” rating to a “neutral” rating and raised their target price for the stock from $61.00 to $62.00 in a research report on Tuesday, February 13th. The Goldman Sachs Group raised their target price on shares of Terex from $52.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 13th. Truist Financial began coverage on shares of Terex in a research report on Thursday, March 14th. They set a “buy” rating and a $73.00 target price on the stock. Citigroup raised their target price on shares of Terex from $54.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. lowered shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price objective on the stock. in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Terex presently has an average rating of “Hold” and a consensus target price of $65.17.

Terex 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.