SummerHaven Investment Management LLC Grows Position in Terex Co. (NYSE:TEX)

SummerHaven Investment Management LLC boosted its stake in Terex Co. (NYSE:TEX) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,692 shares of the industrial products company’s stock after buying an additional 188 shares during the period. SummerHaven Investment Management LLC’s holdings in Terex were worth $672,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Greenwich Wealth Management LLC boosted its position in shares of Terex by 0.3% during the 4th quarter. Greenwich Wealth Management LLC now owns 61,670 shares of the industrial products company’s stock worth $3,544,000 after purchasing an additional 209 shares during the period. Arizona State Retirement System raised its holdings in shares of Terex by 1.1% in the 3rd quarter. Arizona State Retirement System now owns 19,304 shares of the industrial products company’s stock valued at $1,112,000 after buying an additional 213 shares during the period. Parkside Financial Bank & Trust lifted its stake in Terex by 25.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,200 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 244 shares in the last quarter. Kestra Advisory Services LLC boosted its holdings in Terex by 3.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 7,736 shares of the industrial products company’s stock valued at $446,000 after acquiring an additional 254 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in Terex by 2.4% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 12,273 shares of the industrial products company’s stock valued at $707,000 after acquiring an additional 286 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TEX shares. JPMorgan Chase & Co. cut shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price objective for the company. in a report on Monday, March 18th. UBS Group cut Terex from a “buy” rating to a “neutral” rating and increased their price objective for the company from $61.00 to $62.00 in a research note on Tuesday, February 13th. Evercore ISI lowered their target price on Terex from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Tuesday, February 20th. The Goldman Sachs Group lifted their price objective on Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. Finally, Bank of America restated an “underperform” rating and set a $57.00 target price on shares of Terex in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Terex has a consensus rating of “Hold” and an average price target of $65.08.

Terex Stock Performance

NYSE TEX opened at $58.92 on Tuesday. The company has a fifty day moving average of $60.13 and a two-hundred day moving average of $56.32. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.16 and a quick ratio of 0.95. Terex Co. has a 1 year low of $43.70 and a 1 year high of $65.89. The company has a market capitalization of $3.97 billion, a PE ratio of 7.80, a P/E/G ratio of 0.58 and a beta of 1.64.

Terex (NYSE:TEX) last posted its quarterly earnings data on Friday, February 9th. The industrial products company reported $1.41 EPS for the quarter, meeting analysts’ consensus estimates of $1.41. Terex had a net margin of 9.87% and a return on equity of 30.53%. The company 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 business posted $1.34 earnings per share. Terex’s quarterly revenue was up .4% on a year-over-year basis. As a group, analysts expect that Terex Co. will post 7.05 earnings per share for the current year.

Terex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Friday, March 8th were paid a $0.17 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.15%. Terex’s dividend payout ratio (DPR) is presently 9.01%.

Insider Activity

In other Terex news, insider Kieran Hegarty sold 18,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total value of $1,022,400.00. Following the completion of the transaction, the insider now directly owns 198,619 shares of the company’s stock, valued at $11,281,559.20. The sale was disclosed in a filing with the SEC, which is available at this link. In other Terex news, insider Kieran Hegarty sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the completion of the transaction, the insider now directly owns 198,619 shares in the company, valued at approximately $11,281,559.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joshua Gross sold 4,945 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $59.13, for a total transaction of $292,397.85. Following the transaction, the insider now directly owns 21,457 shares of the company’s stock, valued at $1,268,752.41. The disclosure for this sale can be found here. Insiders sold 132,039 shares of company stock worth $8,078,574 in the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

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.