Intech Investment Management LLC Invests $262,000 in Terex Co. (NYSE:TEX)

Intech Investment Management LLC bought a new stake in shares of Terex Co. (NYSE:TEX) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,769 shares of the industrial products company’s stock, valued at approximately $262,000.

Other institutional investors also recently bought and sold shares of the company. Clearbridge Investments LLC grew its stake in Terex by 2.6% during the first quarter. Clearbridge Investments LLC now owns 351,153 shares of the industrial products company’s stock valued at $22,614,000 after acquiring an additional 8,908 shares in the last quarter. TCW Group Inc. purchased a new position in Terex during the second quarter valued at $566,000. Russell Investments Group Ltd. grew its stake in Terex by 11.5% during the first quarter. Russell Investments Group Ltd. now owns 316,692 shares of the industrial products company’s stock valued at $20,395,000 after acquiring an additional 32,630 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Terex by 26.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 106,849 shares of the industrial products company’s stock valued at $6,809,000 after acquiring an additional 22,291 shares in the last quarter. Finally, Connectus Wealth LLC purchased a new position in Terex during the fourth quarter valued at $1,872,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Truist Financial cut their target price on shares of Terex from $74.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Robert W. Baird boosted their target price on shares of Terex from $58.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Evercore ISI reduced their target price on shares of Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Citigroup reduced their target price on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. Finally, Raymond James began coverage on shares of Terex in a report on Friday, June 28th. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.90.

Terex Price Performance

TEX stock opened at $52.74 on Friday. Terex Co. has a 12 month low of $43.70 and a 12 month high of $68.08. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $55.41 and a 200 day moving average price of $57.63. The stock has a market cap of $3.55 billion, a PE ratio of 6.99, a P/E/G ratio of 4.44 and a beta of 1.53.

Terex (NYSE:TEX) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the company earned $2.35 EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts anticipate that Terex Co. will post 5.88 earnings per share for the current year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 9th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.68 annualized dividend and a yield of 1.29%. Terex’s dividend payout ratio (DPR) is 9.01%.

Insider Buying and Selling at Terex

In related news, Director Andra Rush acquired 2,205 shares of the stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $54.36 per share, with a total value of $119,863.80. Following the transaction, the director now directly owns 21,983 shares in the company, valued at $1,194,995.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is owned by corporate insiders.

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.