Terex Co. (NYSE:TEX) Shares Bought by Comerica Bank

Comerica Bank grew its stake in Terex Co. (NYSE:TEX) by 19.4% during the fourth quarter, HoldingsChannel reports. The firm owned 36,350 shares of the industrial products company’s stock after purchasing an additional 5,900 shares during the quarter. Comerica Bank’s holdings in Terex were worth $1,680,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Cascade Investment Advisors Inc. purchased a new position in Terex during the 4th quarter worth $1,070,000. Norges Bank acquired a new stake in Terex in the fourth quarter valued at about $35,001,000. KLP Kapitalforvaltning AS purchased a new stake in Terex in the 4th quarter valued at approximately $610,000. Barclays PLC increased its position in Terex by 40.2% during the 3rd 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. Finally, J2 Capital Management Inc purchased a new position in shares of Terex during the 4th quarter worth approximately $353,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. UBS Group lowered Terex from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $49.00 to $32.00 in a report on Monday, April 7th. StockNews.com upgraded shares of Terex from a “sell” rating to a “hold” rating in a report on Monday, May 5th. Evercore ISI decreased their price objective on shares of Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. JPMorgan Chase & Co. increased their target price on shares of Terex from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Finally, Truist Financial boosted their price target on Terex from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $46.40.

Terex Stock Performance

Terex stock opened at $41.23 on Friday. Terex Co. has a fifty-two week low of $31.53 and a fifty-two week high of $68.08. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 4.53 and a beta of 1.52. The stock has a fifty day moving average of $37.49 and a two-hundred day moving average of $44.76. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16.

Terex (NYSE:TEX) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.26. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Terex had a return on equity of 21.99% and a net margin of 6.54%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 EPS. On average, analysts anticipate that Terex Co. will post 4.83 EPS for the current fiscal year.

Insider Activity

In related news, Director Andra Rush bought 1,325 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $36.96 per share, with a total value of $48,972.00. Following the completion of the transaction, the director now owns 23,308 shares of the company’s stock, valued at approximately $861,463.68. The trade was a 6.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joshua Gross sold 5,389 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was 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 $1,579,266.25. This trade represents a 12.21 % decrease in their position. The disclosure for this sale can be found here. Company 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.