44,775 Shares in Terex Co. (NYSE:TEX) Purchased by Ballast Asset Management LP

Ballast Asset Management LP bought a new stake in shares of Terex Co. (NYSE:TEX) during the 4th quarter, HoldingsChannel reports. The firm bought 44,775 shares of the industrial products company’s stock, valued at approximately $2,070,000.

A number of other large investors also recently made changes to their positions in the business. Citigroup Inc. increased its stake in Terex by 65.6% in the 3rd quarter. Citigroup Inc. now owns 70,443 shares of the industrial products company’s stock valued at $3,727,000 after buying an additional 27,896 shares during the period. Cerity Partners LLC raised its holdings in shares of Terex by 331.8% during the third quarter. Cerity Partners LLC now owns 24,725 shares of the industrial products company’s stock worth $1,308,000 after acquiring an additional 18,999 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Terex during the third quarter valued at $293,000. BNP Paribas Financial Markets grew its stake in Terex by 60.3% in the third quarter. BNP Paribas Financial Markets now owns 22,808 shares of the industrial products company’s stock valued at $1,207,000 after purchasing an additional 8,579 shares in the last quarter. Finally, Townsquare Capital LLC acquired a new position in Terex in the 3rd quarter worth about $225,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on TEX shares. Barclays lowered their price target 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. cut their price target on shares of Terex from $51.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. StockNews.com lowered shares of Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Truist Financial lowered their target price on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group decreased their price target on Terex from $60.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Terex currently has a consensus rating of “Hold” and a consensus target price of $54.22.

Insider Activity

In related news, Director Andra Rush purchased 1,325 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $36.96 per share, with a total value of $48,972.00. Following the purchase, the director now directly owns 23,308 shares in the company, valued at $861,463.68. This represents a 6.03 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.90% of the stock is owned by company insiders.

Terex Stock Down 1.9 %

NYSE TEX opened at $37.76 on Tuesday. Terex Co. has a twelve month low of $36.15 and a twelve month high of $68.08. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16. The stock has a market cap of $2.51 billion, a PE ratio of 7.61, a PEG ratio of 4.53 and a beta of 1.56. The firm has a 50-day simple moving average of $43.26 and a 200 day simple moving average of $48.43.

Terex (NYSE:TEX) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the firm posted $1.88 EPS. On average, research analysts forecast that Terex Co. will post 4.83 EPS for the current year.

Terex Announces Dividend

The firm also recently disclosed 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Friday, March 7th. Terex’s payout ratio is 13.71%.

Terex Company 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.