Terex Co. (NYSE:TEX) Shares Sold by Stifel Financial Corp

Stifel Financial Corp lessened its stake in Terex Co. (NYSE:TEX) by 53.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,127 shares of the industrial products company’s stock after selling 12,621 shares during the quarter. Stifel Financial Corp’s holdings in Terex were worth $589,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new position in shares of Terex in the 3rd quarter valued at about $685,000. Quantinno Capital Management LP raised its holdings in Terex by 25.2% in the third quarter. Quantinno Capital Management LP now owns 8,664 shares of the industrial products company’s stock valued at $458,000 after buying an additional 1,744 shares during the period. Quarry LP raised its holdings in Terex by 13,447.1% in the third quarter. Quarry LP now owns 23,301 shares of the industrial products company’s stock valued at $1,233,000 after buying an additional 23,129 shares during the period. Point72 DIFC Ltd purchased a new stake in Terex during the third quarter worth approximately $316,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Terex in the third quarter worth $4,283,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Terex news, CEO Simon Meester sold 9,877 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total value of $505,109.78. Following the transaction, the chief executive officer now owns 127,858 shares of the company’s stock, valued at $6,538,658.12. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David A. Sachs bought 10,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were bought at an average cost of $51.30 per share, with a total value of $513,000.00. Following the completion of the acquisition, the director now directly owns 107,500 shares of the company’s stock, valued at approximately $5,514,750. The trade was a 10.26 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TEX shares. Truist Financial reduced their target price on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Robert W. Baird decreased their target price on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. dropped their target price on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Citigroup decreased their price target on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Finally, The Goldman Sachs Group dropped their price objective on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $58.78.

Terex Stock Performance

Shares of TEX opened at $45.80 on Friday. Terex Co. has a 52-week low of $44.43 and a 52-week high of $68.08. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 6.69, a PEG ratio of 4.00 and a beta of 1.53. The business’s 50 day moving average is $52.06 and its two-hundred day moving average is $53.88.

Terex (NYSE:TEX) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. The firm’s revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.75 EPS. Analysts forecast that Terex Co. will post 6.07 EPS for the current fiscal year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 8th were given a $0.17 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.48%. Terex’s payout ratio is 9.93%.

About Terex

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.