Congress Wealth Management LLC DE Invests $232,000 in Terex Co. (NYSE:TEX)

Congress Wealth Management LLC DE acquired a new position in Terex Co. (NYSE:TEX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,022 shares of the industrial products company’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds also recently bought and sold shares of TEX. Citigroup Inc. raised its stake in shares of Terex by 65.6% in the third quarter. Citigroup Inc. now owns 70,443 shares of the industrial products company’s stock worth $3,727,000 after buying an additional 27,896 shares during the period. Cerity Partners LLC raised its stake in Terex by 331.8% during the 3rd quarter. Cerity Partners LLC now owns 24,725 shares of the industrial products company’s stock worth $1,308,000 after acquiring an additional 18,999 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Terex during the third quarter valued at approximately $293,000. BNP Paribas Financial Markets lifted its holdings in Terex by 60.3% during the third quarter. BNP Paribas Financial Markets now owns 22,808 shares of the industrial products company’s stock valued at $1,207,000 after purchasing an additional 8,579 shares in the last quarter. Finally, Townsquare Capital LLC purchased a new stake in shares of Terex in the third quarter worth $225,000. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TEX has been the topic of a number of analyst reports. StockNews.com cut shares of Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Truist Financial lowered their price objective on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Citigroup cut their target price on Terex from $48.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. JPMorgan Chase & Co. lowered their price target on Terex from $51.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. Finally, The Goldman Sachs Group cut their price objective on shares of Terex from $60.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $54.22.

Terex Stock Performance

NYSE:TEX opened at $38.47 on Friday. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 7.76, a PEG ratio of 4.53 and a beta of 1.56. Terex Co. has a 1 year low of $36.15 and a 1 year high of $68.08. The stock’s 50 day simple moving average is $43.45 and its two-hundred day simple moving average is $48.53. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09.

Terex (NYSE:TEX) last released its quarterly earnings results 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 quarter in the prior year, the business earned $1.88 EPS. As a group, equities analysts anticipate that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.68 annualized dividend and a yield of 1.77%. Terex’s dividend payout ratio is currently 13.71%.

Insider Buying and Selling

In related news, Director Andra Rush purchased 1,325 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the transaction, the director now directly owns 23,308 shares in the company, valued at $861,463.68. This represents a 6.03 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.90% of the stock is currently owned by company insiders.

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.