Terex (NYSE:TEX) Sets New 52-Week High at $65.80

Terex Co. (NYSE:TEX)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $65.80 and last traded at $65.74, with a volume of 100618 shares trading hands. The stock had previously closed at $64.46.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. downgraded Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price target on the stock. in a research note on Monday, March 18th. Evercore ISI reduced their target price on Terex from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Tuesday, February 20th. Bank of America reaffirmed an “underperform” rating and issued a $57.00 target price on shares of Terex in a report on Friday, January 19th. Jefferies Financial Group lowered Terex from a “buy” rating to a “hold” rating and reduced their price objective for the company from $73.00 to $63.00 in a report on Wednesday, December 20th. Finally, Truist Financial started coverage on Terex in a report on Thursday, March 14th. They set a “buy” rating and a $73.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Terex presently has an average rating of “Hold” and a consensus price target of $64.21.

Terex Stock Up 1.0 %

The stock has a 50-day simple moving average of $59.66 and a two-hundred day simple moving average of $55.64. The company has a quick ratio of 0.95, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. The firm has a market cap of $4.36 billion, a PE ratio of 8.58, a P/E/G ratio of 0.64 and a beta of 1.64.

Terex (NYSE:TEX) last released its quarterly earnings results on Friday, February 9th. The industrial products company reported $1.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.41. Terex had a return on equity of 32.89% and a net margin of 10.06%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the business posted $1.34 earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. Analysts expect that Terex Co. will post 6.95 earnings per share for the current year.

Terex Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Thursday, March 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.04%. Terex’s dividend payout ratio (DPR) is currently 8.96%.

Insider Activity

In other news, CEO John L. Garrison, Jr. sold 59,094 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $60.07, for a total transaction of $3,549,776.58. Following the transaction, the chief executive officer now directly owns 380,834 shares of the company’s stock, valued at $22,876,698.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO John L. Garrison, Jr. sold 59,094 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $60.07, for a total value of $3,549,776.58. Following the sale, the chief executive officer now directly owns 380,834 shares of the company’s stock, valued at $22,876,698.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kieran Hegarty sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $56.80, for a total value of $1,022,400.00. Following the completion of the sale, the insider now directly owns 198,619 shares in the company, 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. 2.40% of the stock is currently owned by insiders.

Institutional Trading of Terex

Several institutional investors and hedge funds have recently bought and sold shares of TEX. Blue Trust Inc. lifted its holdings in shares of Terex by 179.0% during the fourth quarter. Blue Trust Inc. now owns 466 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 299 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Terex by 440.7% during the third quarter. Avior Wealth Management LLC now owns 492 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 401 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in Terex in the 1st quarter worth approximately $28,000. McGlone Suttner Wealth Management Inc. purchased a new position in Terex in the 4th quarter worth approximately $29,000. Finally, ST Germain D J Co. Inc. purchased a new position in Terex in the 2nd quarter worth approximately $30,000. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

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.