Ballast Asset Management LP Takes Position in Terex Co. (NYSE:TEX)

Ballast Asset Management LP purchased a new position in Terex Co. (NYSE:TEX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 44,775 shares of the industrial products company’s stock, valued at approximately $2,070,000. Ballast Asset Management LP owned approximately 0.07% of Terex as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp bought a new stake in shares of Terex in the 4th quarter valued at approximately $31,000. Smartleaf Asset Management LLC increased its stake in Terex by 46.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 222 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Terex during the third quarter worth $40,000. VisionPoint Advisory Group LLC acquired a new position in shares of Terex in the 4th quarter valued at about $51,000. Finally, Blue Trust Inc. grew its position in shares of Terex by 26.8% during the 4th quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company’s stock valued at $57,000 after buying an additional 260 shares during the last quarter. 92.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TEX has been the topic of a number of recent research reports. Truist Financial cut 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. The Goldman Sachs Group cut their price target on Terex from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Evercore ISI dropped their target price on Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Terex from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Terex from $51.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $54.22.

Terex Stock Down 1.9 %

Terex stock opened at $37.76 on Tuesday. Terex Co. has a 52 week low of $36.15 and a 52 week high of $68.08. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 7.61, a PEG ratio of 4.53 and a beta of 1.56. The company’s 50-day moving average price is $43.26 and its two-hundred day moving average price is $48.43. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41.

Terex (NYSE:TEX) last posted its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, beating 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 quarter last year, the firm earned $1.88 EPS. On average, analysts expect that Terex Co. will post 4.83 EPS for the current fiscal year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Friday, March 7th. Terex’s payout ratio is currently 13.71%.

Insiders Place Their Bets

In other Terex news, Director Andra Rush bought 1,325 shares of Terex stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the acquisition, the director now owns 23,308 shares of the company’s stock, valued at approximately $861,463.68. This represents a 6.03 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by company insiders.

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.