Fmr LLC Increases Stake in Terex Co. (NYSE:TEX)

Fmr LLC grew its stake in Terex Co. (NYSE:TEX) by 17.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,782,287 shares of the industrial products company’s stock after buying an additional 1,272,920 shares during the quarter. Fmr LLC owned 13.15% of Terex worth $405,917,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in TEX. Norges Bank purchased a new stake in Terex during the fourth quarter worth approximately $35,001,000. American Century Companies Inc. increased its holdings in shares of Terex by 8.4% in the fourth quarter. American Century Companies Inc. now owns 1,741,206 shares of the industrial products company’s stock valued at $80,479,000 after purchasing an additional 135,286 shares during the period. Regents Gate Capital LLP acquired a new position in Terex during the fourth quarter worth $5,561,000. Clearbridge Investments LLC grew its holdings in Terex by 20.9% during the fourth quarter. Clearbridge Investments LLC now owns 369,055 shares of the industrial products company’s stock worth $17,058,000 after acquiring an additional 63,854 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Terex by 7.9% during the fourth quarter. Bank of New York Mellon Corp now owns 725,486 shares of the industrial products company’s stock worth $33,532,000 after acquiring an additional 52,885 shares during the period. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Terex Price Performance

Shares of TEX opened at $36.75 on Thursday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 7.41, a PEG ratio of 4.53 and a beta of 1.40. The stock has a 50 day moving average of $40.92 and a 200-day moving average of $47.37. 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 Co. has a 52 week low of $31.53 and a 52 week high of $68.08.

Terex (NYSE:TEX) last issued its earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.76 by $0.01. Terex had a return on equity of 21.99% and a net margin of 6.54%. During the same period last year, the business posted $1.88 earnings per share. As a group, analysts forecast that Terex Co. will post 4.83 EPS for the current year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.85%. Terex’s dividend payout ratio is currently 13.71%.

Insider Activity at Terex

In other Terex news, Director Andra Rush purchased 1,325 shares of Terex stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the transaction, the director now owns 23,308 shares of the company’s stock, valued at $861,463.68. The trade was a 6.03 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. UBS Group downgraded Terex from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $49.00 to $32.00 in a research report on Monday. Evercore ISI decreased their price target on Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Truist Financial cut their price objective on Terex from $58.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. cut their price objective on Terex from $51.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. Finally, Citigroup cut their price objective on Terex from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $48.44.

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.