State of Wyoming lowered its stake in shares of Terex Corporation (NYSE:TEX – Free Report) by 62.0% in the first quarter, Holdings Channel reports. The firm owned 6,987 shares of the industrial products company’s stock after selling 11,376 shares during the period. State of Wyoming’s holdings in Terex were worth $413,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of TEX. Wellington Management Group LLP purchased a new stake in Terex during the 3rd quarter worth approximately $121,724,000. Invesco Ltd. boosted its stake in shares of Terex by 801.3% in the third quarter. Invesco Ltd. now owns 1,603,965 shares of the industrial products company’s stock worth $82,283,000 after acquiring an additional 1,425,996 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Terex in the fourth quarter worth approximately $69,802,000. Dimensional Fund Advisors LP increased its position in shares of Terex by 29.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,442,435 shares of the industrial products company’s stock worth $262,527,000 after purchasing an additional 1,008,444 shares in the last quarter. Finally, Morgan Stanley raised its stake in Terex by 77.2% in the 4th quarter. Morgan Stanley now owns 1,669,042 shares of the industrial products company’s stock valued at $89,094,000 after purchasing an additional 727,277 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.
Terex Price Performance
Terex stock opened at $69.73 on Monday. Terex Corporation has a 12-month low of $41.70 and a 12-month high of $74.69. The stock has a market cap of $7.96 billion, a P/E ratio of 33.36, a PEG ratio of 1.09 and a beta of 1.49. The company has a 50-day moving average price of $64.48 and a 200 day moving average price of $62.94. The company has a current ratio of 1.84, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57.
Terex Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, August 11th will be given a $0.17 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $0.68 dividend on an annualized basis and a yield of 1.0%. Terex’s payout ratio is currently 32.54%.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on TEX. Zacks Research upgraded Terex from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Citigroup boosted their price target on shares of Terex from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. DA Davidson started coverage on shares of Terex in a research note on Wednesday, June 24th. They set a “strong-buy” rating and a $81.00 price objective for the company. Raymond James Financial upgraded shares of Terex from an “outperform” rating to a “strong-buy” rating and set a $85.00 price objective for the company in a report on Monday, May 11th. Finally, Barclays raised their target price on shares of Terex from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.45.
View Our Latest Research Report on Terex
Insider Activity at Terex
In other news, insider Joshua Gross sold 5,874 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $61.53, for a total transaction of $361,427.22. Following the completion of the transaction, the insider directly owned 48,706 shares in the company, valued at approximately $2,996,880.18. This represents a 10.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by company insiders.
Terex Company Profile
Terex Corporation is a global manufacturer of lifting and material-handling plant and equipment, serving a range of industries that includes construction, infrastructure, energy, manufacturing and shipping logistics. Its product portfolio encompasses aerial work platforms, rough terrain and tower cranes, port and cargo handling equipment, material processing machinery and utility products. These offerings are marketed under well-known brands such as Genie®, Terex® AWP, Terex® Cranes, Demag®, and Powerscreen®, and are designed to meet diverse application requirements from building sites to industrial facilities and ports.
Headquartered in Westport, Connecticut, Terex traces its roots back to 1933 and has grown through strategic acquisitions and organic expansion.
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