Teacher Retirement System of Texas Increases Stock Holdings in Terex Co. (NYSE:TEX)

Teacher Retirement System of Texas boosted its holdings in Terex Co. (NYSE:TEX) by 70.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 26,544 shares of the industrial products company’s stock after buying an additional 11,014 shares during the quarter. Teacher Retirement System of Texas’ holdings in Terex were worth $1,227,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Cascade Investment Advisors Inc. acquired a new position in shares of Terex during the 4th quarter valued at about $1,070,000. Barclays PLC grew its holdings in Terex by 40.2% in the third quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock valued at $6,838,000 after purchasing an additional 37,072 shares during the period. Point72 Asset Management L.P. acquired a new position in Terex during the third quarter worth approximately $4,283,000. Citigroup Inc. raised its stake in Terex by 65.6% during the third quarter. Citigroup Inc. now owns 70,443 shares of the industrial products company’s stock worth $3,727,000 after purchasing an additional 27,896 shares during the period. Finally, Cerity Partners LLC boosted its holdings in shares of Terex by 331.8% in the 3rd quarter. Cerity Partners LLC now owns 24,725 shares of the industrial products company’s stock valued at $1,308,000 after purchasing an additional 18,999 shares during the last quarter. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TEX. JPMorgan Chase & Co. dropped their price objective on Terex from $51.00 to $48.00 and set a “neutral” rating for the company in a report on Tuesday, March 18th. Citigroup cut their price objective on Terex from $48.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Truist Financial decreased their target price on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Evercore ISI cut their price target on shares of Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group decreased their price objective on shares of Terex from $60.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Terex has an average rating of “Hold” and an average price target of $54.22.

Insider Buying and Selling at Terex

In related news, Director Andra Rush acquired 1,325 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $36.96 per share, with a total value of $48,972.00. Following the acquisition, the director now directly owns 23,308 shares in the company, valued at approximately $861,463.68. The trade was a 6.03 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by corporate insiders.

Terex Price Performance

Shares of TEX stock opened at $38.47 on Friday. The firm has a fifty day simple moving average of $43.45 and a 200-day simple moving average of $48.54. The company has a market capitalization of $2.55 billion, a PE ratio of 7.76, a price-to-earnings-growth ratio of 4.53 and a beta of 1.56. Terex Co. has a twelve month low of $36.15 and a twelve month high of $68.08. 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 earnings per share 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 in the previous year, the company posted $1.88 earnings per share. Equities research analysts anticipate that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were issued a dividend of $0.17 per share. 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 presently 13.71%.

Terex 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.