Terex Co. (NYSE:TEX) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its stake in Terex Co. (NYSE:TEX) by 1.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 19,000 shares of the industrial products company’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Terex were worth $1,042,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TEX. Dimensional Fund Advisors LP boosted its position in shares of Terex by 3.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,675,548 shares of the industrial products company’s stock worth $153,742,000 after buying an additional 78,362 shares during the period. Greenhaven Associates Inc. boosted its holdings in Terex by 1.6% during the 2nd quarter. Greenhaven Associates Inc. now owns 1,499,671 shares of the industrial products company’s stock valued at $82,242,000 after acquiring an additional 23,371 shares during the period. Charles Schwab Investment Management Inc. grew its position in Terex by 4.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 921,985 shares of the industrial products company’s stock valued at $52,977,000 after acquiring an additional 42,364 shares in the last quarter. Victory Capital Management Inc. increased its stake in Terex by 2.5% during the fourth quarter. Victory Capital Management Inc. now owns 803,906 shares of the industrial products company’s stock worth $46,192,000 after purchasing an additional 19,925 shares during the period. Finally, Norges Bank acquired a new stake in shares of Terex during the fourth quarter worth about $42,606,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Insider Buying and Selling

In other news, Director Andra Rush acquired 2,205 shares of Terex stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the completion of the purchase, the director now owns 21,983 shares in the company, valued at $1,194,995.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is currently owned by company insiders.

Terex Stock Performance

Shares of Terex stock opened at $55.08 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. Terex Co. has a 52 week low of $43.70 and a 52 week high of $68.08. The firm’s 50 day moving average is $56.16 and its two-hundred day moving average is $58.21. The firm has a market capitalization of $3.71 billion, a P/E ratio of 7.30, a P/E/G ratio of 3.64 and a beta of 1.57.

Terex (NYSE:TEX) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, topping the consensus estimate of $2.06 by $0.10. Terex had a net margin of 9.55% and a return on equity of 27.89%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the business earned $2.35 EPS. Terex’s revenue for the quarter was down 1.5% compared to the same quarter last year. Research analysts forecast that Terex Co. will post 7.22 EPS for the current fiscal year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, August 9th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. Terex’s dividend payout ratio (DPR) is presently 9.01%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TEX. Raymond James started coverage on shares of Terex in a report on Friday, June 28th. They issued a “market perform” rating for the company. Evercore ISI dropped their price target on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Citigroup assumed coverage on Terex in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 price objective on the stock. Truist Financial boosted their target price on Terex from $68.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group increased their price target on Terex from $64.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.30.

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.