Watershed Asset Management L.L.C. Acquires New Position in Terex Co. (NYSE:TEX)

Watershed Asset Management L.L.C. bought a new position in Terex Co. (NYSE:TEX) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,430 shares of the industrial products company’s stock, valued at approximately $312,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. California Public Employees Retirement System raised its holdings in Terex by 3.6% in the 4th quarter. California Public Employees Retirement System now owns 137,551 shares of the industrial products company’s stock worth $7,904,000 after acquiring an additional 4,737 shares during the last quarter. Greenwich Wealth Management LLC raised its stake in shares of Terex by 0.3% in the fourth 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 last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Terex by 6.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 26,700 shares of the industrial products company’s stock valued at $1,534,000 after purchasing an additional 1,500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Terex by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,196 shares of the industrial products company’s stock valued at $931,000 after buying an additional 353 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. increased its holdings in Terex by 90.9% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 18,121 shares of the industrial products company’s stock worth $1,041,000 after buying an additional 8,631 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TEX shares. UBS Group cut shares of Terex from a “buy” rating to a “neutral” rating and upped their target price for the company from $61.00 to $62.00 in a research note on Tuesday, February 13th. Truist Financial began coverage on shares of Terex in a report on Thursday, March 14th. They issued a “buy” rating and a $73.00 target price on the stock. Bank of America reiterated an “underperform” rating and set a $57.00 target price on shares of Terex in a research note on Friday, January 19th. Evercore ISI cut their price objective on Terex from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Tuesday, February 20th. Finally, The Goldman Sachs Group increased their target price on Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $65.08.

Terex Stock Performance

Shares of NYSE TEX traded up $0.27 during trading on Tuesday, hitting $61.00. The company had a trading volume of 741,842 shares, compared to its average volume of 708,207. Terex Co. has a 12 month low of $42.50 and a 12 month high of $65.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.95 and a current ratio of 2.01. The firm has a market capitalization of $4.11 billion, a P/E ratio of 8.04, a price-to-earnings-growth ratio of 0.60 and a beta of 1.64. The stock has a 50 day simple moving average of $59.82 and a 200 day simple moving average of $56.18.

Terex (NYSE:TEX) last released its earnings results on Friday, February 9th. The industrial products company reported $1.41 EPS for the quarter, hitting analysts’ consensus estimates of $1.41. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Terex had a net margin of 10.06% and a return on equity of 32.89%. The firm’s revenue was up .4% compared to the same quarter last year. During the same quarter last year, the business earned $1.34 EPS. As a group, analysts anticipate that Terex Co. will post 6.96 earnings per share for the current year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Friday, March 8th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Thursday, March 7th. Terex’s dividend payout ratio (DPR) is 8.96%.

Insiders Place Their Bets

In other news, CEO John L. Garrison, Jr. sold 59,094 shares of the business’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 transaction, the chief executive officer now directly owns 380,834 shares in the company, valued at $22,876,698.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO John L. Garrison, Jr. sold 50,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $64.28, for a total transaction of $3,214,000.00. Following the completion of the transaction, the chief executive officer now owns 315,483 shares in the company, valued at $20,279,247.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John L. Garrison, Jr. sold 59,094 shares of Terex stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $60.07, for a total transaction of $3,549,776.58. Following the completion of the sale, the chief executive officer now owns 380,834 shares in the company, valued at $22,876,698.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,039 shares of company stock worth $8,078,574. Corporate insiders own 1.90% of the company’s stock.

Terex 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.