Terex (NYSE:TEX) Hits New 52-Week Low – Here’s What Happened

Terex Co. (NYSE:TEX)’s share price hit a new 52-week low on Thursday . The company traded as low as $41.53 and last traded at $41.78, with a volume of 262699 shares. The stock had previously closed at $42.42.

Analyst Upgrades and Downgrades

TEX has been the subject of a number of research analyst reports. Robert W. Baird reduced their price target on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Barclays lowered their price target on Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Truist Financial lowered their price objective on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. decreased their target price on Terex from $59.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, StockNews.com lowered shares of Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $56.11.

Terex Stock Performance

The stock has a fifty day simple moving average of $45.97 and a two-hundred day simple moving average of $50.67. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 8.33, a P/E/G 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 1.09 and a current ratio of 2.16.

Terex (NYSE:TEX) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. Terex had a return on equity of 21.99% and a net margin of 6.54%. During the same quarter in the prior year, the business earned $1.88 earnings per share. 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 will be paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Friday, March 7th. Terex’s dividend payout ratio is presently 13.71%.

Insider Activity at Terex

In related news, Director David A. Sachs purchased 20,000 shares of the stock in a transaction dated Friday, December 13th. The stock was purchased at an average price of $49.75 per share, with a total value of $995,000.00. Following the transaction, the director now directly owns 137,500 shares in the company, valued at $6,840,625. This trade represents a 17.02 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Simon Meester sold 9,877 shares of Terex stock in a transaction dated 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 sale, the chief executive officer now owns 127,858 shares of the company’s stock, valued at $6,538,658.12. The trade was a 7.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Terex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its position in shares of Terex by 17.0% during the fourth 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. grew its stake in Terex by 94.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,150,673 shares of the industrial products company’s stock valued at $99,404,000 after acquiring an additional 1,046,600 shares in the last quarter. Norges Bank bought a new stake in Terex in the 4th quarter valued at $35,001,000. First Trust Advisors LP boosted its holdings in shares of Terex by 43.2% during the 4th quarter. First Trust Advisors LP now owns 1,930,923 shares of the industrial products company’s stock valued at $89,247,000 after purchasing an additional 582,819 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Terex by 66.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 352,780 shares of the industrial products company’s stock valued at $16,305,000 after purchasing an additional 141,352 shares during the last quarter. 92.88% of the stock is owned by hedge funds and other 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.