Russell Investments Group Ltd. Lowers Stock Holdings in Terex Co. (NYSE:TEX)

Russell Investments Group Ltd. lowered its holdings in Terex Co. (NYSE:TEX) by 4.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 256,787 shares of the industrial products company’s stock after selling 11,002 shares during the period. Russell Investments Group Ltd. owned approximately 0.38% of Terex worth $11,869,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TEX. Cascade Investment Advisors Inc. purchased a new stake in shares of Terex during the fourth quarter worth $1,070,000. Norges Bank acquired a new stake in Terex during the fourth quarter worth approximately $35,001,000. KLP Kapitalforvaltning AS purchased a new stake in Terex in the fourth quarter valued at $610,000. Barclays PLC boosted its stake in Terex by 40.2% in the third quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock valued at $6,838,000 after acquiring an additional 37,072 shares in the last quarter. Finally, J2 Capital Management Inc acquired a new position in Terex during the fourth quarter worth approximately $353,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Terex Stock Performance

NYSE:TEX opened at $34.11 on Friday. Terex Co. has a twelve month low of $31.53 and a twelve month high of $68.08. The company has a market capitalization of $2.26 billion, a P/E ratio of 6.88, a price-to-earnings-growth ratio of 4.53 and a beta of 1.40. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41. The firm has a 50-day moving average price of $40.69 and a two-hundred day moving average price of $47.23.

Terex (NYSE:TEX) last posted its earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company posted $1.88 EPS. As a group, research analysts expect that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th were issued 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 dividend yield of 1.99%. Terex’s dividend payout ratio (DPR) is presently 13.71%.

Insider Activity

In other Terex news, Director Andra Rush bought 1,325 shares of Terex stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the transaction, the director now owns 23,308 shares of the company’s stock, valued at $861,463.68. This represents a 6.03 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TEX shares. Citigroup reduced their target price on shares of Terex from $45.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday. Barclays cut their target price on Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. dropped 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. Truist Financial reduced their target price on Terex from $58.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday. Finally, StockNews.com downgraded shares of Terex from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Terex has an average rating of “Hold” and a consensus target price 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.