Terex Co. (NYSE:TEX) Director David A. Sachs Acquires 20,000 Shares

Terex Co. (NYSE:TEX) Director David A. Sachs purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $49.75 per share, with a total value of $995,000.00. Following the completion of the acquisition, the director now directly owns 137,500 shares in the company, valued at approximately $6,840,625. This represents a 17.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Terex Stock Performance

TEX stock opened at $45.20 on Friday. Terex Co. has a twelve month low of $44.92 and a twelve month high of $68.08. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.02 billion, a P/E ratio of 6.60, a price-to-earnings-growth ratio of 4.00 and a beta of 1.53. The business’s fifty day moving average is $53.10 and its 200-day moving average is $54.28.

Terex (NYSE:TEX) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. The company’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.75 earnings per share. Equities research analysts forecast that Terex Co. will post 6.07 EPS for the current year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 8th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.50%. The ex-dividend date was Friday, November 8th. Terex’s payout ratio is presently 9.93%.

Institutional Investors Weigh In On Terex

Several hedge funds have recently bought and sold shares of the company. Blue Trust Inc. increased its position in shares of Terex by 57.5% in the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after buying an additional 187 shares in the last quarter. Summit Global Investments increased its holdings in shares of Terex by 47.6% in the second quarter. Summit Global Investments now owns 5,502 shares of the industrial products company’s stock worth $302,000 after acquiring an additional 1,775 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Terex in the second quarter worth about $111,000. SummerHaven Investment Management LLC raised its position in shares of Terex by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 12,114 shares of the industrial products company’s stock worth $664,000 after purchasing an additional 258 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Terex by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 790,118 shares of the industrial products company’s stock valued at $43,330,000 after purchasing an additional 26,377 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Truist Financial decreased their target price on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. The Goldman Sachs Group reduced their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Robert W. Baird lowered their price target on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Citigroup reduced their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $58.78.

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.