Terex (NYSE:TEX) Sets New 52-Week Low on Analyst Downgrade

Terex Co. (NYSE:TEX) shares hit a new 52-week low during mid-day trading on Monday after Barclays lowered their price target on the stock from $60.00 to $52.00. Barclays currently has an equal weight rating on the stock. Terex traded as low as $43.23 and last traded at $43.82, with a volume of 325721 shares traded. The stock had previously closed at $44.75.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Terex from $59.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Robert W. Baird dropped 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. StockNews.com downgraded Terex from a “hold” rating to a “sell” rating in a report on Friday. Citigroup dropped their price objective on Terex from $57.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, Truist Financial decreased their target price on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $56.11.

Insider Buying and Selling at Terex

In other Terex news, CEO Simon Meester sold 9,877 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were 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 approximately $6,538,658.12. This trade represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David A. Sachs acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were bought at an average cost of $51.30 per share, for a total transaction 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Terex

A number of institutional investors have recently bought and sold shares of the business. Regents Gate Capital LLP acquired a new position in shares of Terex in the 4th quarter valued at about $5,561,000. Point72 Asset Management L.P. purchased a new position in Terex during the third quarter valued at $4,283,000. Foundry Partners LLC purchased a new position in Terex in the 3rd quarter valued at about $3,881,000. Bank of New York Mellon Corp boosted its stake in shares of Terex by 7.9% in the fourth quarter. Bank of New York Mellon Corp now owns 725,486 shares of the industrial products company’s stock worth $33,532,000 after acquiring an additional 52,885 shares during the last quarter. Finally, Bridgewater Associates LP boosted its stake in Terex by 176.1% during the 3rd quarter. Bridgewater Associates LP now owns 79,009 shares of the industrial products company’s stock worth $4,180,000 after purchasing an additional 50,389 shares during the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.

Terex Stock Performance

The company has a market cap of $2.94 billion, a PE ratio of 8.85, a PEG ratio of 4.53 and a beta of 1.54. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.16 and a current ratio of 2.16. The firm’s 50 day moving average is $47.69 and its 200-day moving average is $51.95.

Terex (NYSE:TEX) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (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 period last year, the company earned $1.88 earnings per share. On average, research analysts anticipate that Terex Co. will post 5.03 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th will be given a $0.17 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.55%. Terex’s dividend payout ratio is currently 13.71%.

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.