Terex (NYSE:TEX) Sets New 52-Week Low – Here’s Why

Terex Co. (NYSE:TEX) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $41.53 and last traded at $41.78, with a volume of 262699 shares trading hands. The stock had previously closed at $42.42.

Wall Street Analyst Weigh In

Several brokerages recently commented on TEX. Citigroup reduced their price objective on shares of Terex from $57.00 to $48.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. reduced their price objective on shares of Terex from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Evercore ISI reduced their price objective on shares of Terex from $63.00 to $59.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Truist Financial cut their price target on shares of Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, StockNews.com cut shares of Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Terex currently has a consensus rating of “Hold” and an average target price of $56.11.

Terex Trading Down 1.7 %

The stock has a market capitalization of $2.70 billion, a P/E ratio of 8.19, a price-to-earnings-growth ratio of 4.53 and a beta of 1.54. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41. The stock’s fifty day moving average price is $45.80 and its two-hundred day moving average price is $50.50.

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 analysts’ consensus estimates of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same period last year, the business posted $1.88 earnings per share. Equities research analysts forecast that Terex Co. will post 4.83 EPS for the current year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, March 7th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.67%. Terex’s dividend payout ratio is currently 13.71%.

Insider Activity at Terex

In related news, CEO Simon Meester sold 9,877 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total transaction of $505,109.78. Following the completion of the sale, the chief executive officer now directly owns 127,858 shares in the company, valued at $6,538,658.12. This represents a 7.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David A. Sachs purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average price 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 in the company, valued at $5,514,750. The trade was a 10.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TEX. FMR LLC raised its holdings in Terex by 17.0% in the 4th quarter. FMR LLC now owns 8,782,287 shares of the industrial products company’s stock worth $405,917,000 after purchasing an additional 1,272,920 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Terex by 94.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,150,673 shares of the industrial products company’s stock worth $99,404,000 after purchasing an additional 1,046,600 shares in the last quarter. Norges Bank bought a new position in Terex in the 4th quarter worth $35,001,000. First Trust Advisors LP raised its holdings in Terex by 43.2% in the 4th quarter. First Trust Advisors LP now owns 1,930,923 shares of the industrial products company’s stock worth $89,247,000 after purchasing an additional 582,819 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its position in shares of Terex by 66.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 352,780 shares of the industrial products company’s stock worth $16,305,000 after buying an additional 141,352 shares during the period. 92.88% of the stock is currently owned by institutional investors.

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.