JPMorgan Chase & Co. Sells 5,259 Shares of Terex Co. (NYSE:TEX)

JPMorgan Chase & Co. lessened its position in Terex Co. (NYSE:TEX) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 503,654 shares of the industrial products company’s stock after selling 5,259 shares during the quarter. JPMorgan Chase & Co.’s holdings in Terex were worth $26,648,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Terex by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock valued at $154,224,000 after buying an additional 109,885 shares in the last quarter. AQR Capital Management LLC grew its position in Terex by 18.4% during the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock valued at $99,045,000 after acquiring an additional 285,750 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Terex by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,596,070 shares of the industrial products company’s stock worth $84,463,000 after acquiring an additional 8,624 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Terex by 25.6% in the 2nd quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock valued at $72,538,000 after purchasing an additional 269,777 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Terex by 169.0% during the 2nd quarter. Millennium Management LLC now owns 264,885 shares of the industrial products company’s stock valued at $14,526,000 after purchasing an additional 166,429 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

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

Terex Trading Up 1.1 %

NYSE TEX opened at $45.69 on Wednesday. The stock’s 50 day moving average is $50.67 and its 200 day moving average is $53.38. 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 capitalization of $3.05 billion, a PE ratio of 6.67, a P/E/G ratio of 4.00 and a beta of 1.55. Terex Co. has a twelve month low of $44.04 and a twelve month high of $68.08.

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

Terex Announces Dividend

The business also recently declared 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 of this dividend was Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.49%. Terex’s dividend payout ratio is currently 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.