Retirement Systems of Alabama Sells 1,795 Shares of Terex Co. (NYSE:TEX)

Retirement Systems of Alabama decreased its holdings in Terex Co. (NYSE:TEX) by 2.2% in the third quarter, HoldingsChannel.com reports. The fund owned 81,268 shares of the industrial products company’s stock after selling 1,795 shares during the quarter. Retirement Systems of Alabama’s holdings in Terex were worth $4,300,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TEX. Greenwich Wealth Management LLC lifted its holdings in Terex by 0.3% in the 3rd quarter. Greenwich Wealth Management LLC now owns 62,371 shares of the industrial products company’s stock worth $3,300,000 after purchasing an additional 181 shares in the last quarter. Dorsey Wright & Associates lifted its holdings in shares of Terex by 0.3% in the second quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company’s stock worth $3,362,000 after buying an additional 186 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Terex by 57.5% during the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 187 shares during the last quarter. US Bancorp DE grew its stake in Terex by 4.0% during the third quarter. US Bancorp DE now owns 5,837 shares of the industrial products company’s stock valued at $309,000 after acquiring an additional 227 shares in the last quarter. Finally, Lingohr Asset Management GmbH increased its holdings in Terex by 2.0% in the 3rd quarter. Lingohr Asset Management GmbH now owns 11,516 shares of the industrial products company’s stock valued at $607,000 after acquiring an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Insider Transactions at Terex

In related 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 transaction 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 $6,538,658.12. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David A. Sachs purchased 20,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $49.75 per share, with a total value of $995,000.00. Following the completion of the acquisition, the director now directly owns 137,500 shares of the company’s stock, valued at $6,840,625. This trade represents a 17.02 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Terex Price Performance

Shares of TEX stock opened at $45.20 on Friday. The stock’s 50-day moving average is $53.10 and its 200 day moving average is $54.28. Terex Co. has a 1-year low of $44.92 and a 1-year high of $68.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. The company has a market cap of $3.02 billion, a P/E ratio of 6.60, a PEG ratio of 4.00 and a beta of 1.53.

Terex (NYSE:TEX) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. Terex had a net margin of 9.08% and a return on equity of 24.92%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business earned $1.75 EPS. The company’s revenue was down 6.0% compared to the same quarter last year. Research analysts predict that Terex Co. will post 6.07 earnings per share for the current fiscal year.

Terex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 8th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, November 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.50%. Terex’s dividend payout ratio is presently 9.93%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TEX shares. Truist Financial cut their price objective on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday. JPMorgan Chase & Co. reduced their price objective on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. The Goldman Sachs Group cut their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Robert W. Baird reduced their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Citigroup reduced their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $58.78.

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.