M&T Bank Corp Sells 243 Shares of Terex Co. (NYSE:TEX)

M&T Bank Corp trimmed its holdings in Terex Co. (NYSE:TEX) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,241 shares of the industrial products company’s stock after selling 243 shares during the period. M&T Bank Corp’s holdings in Terex were worth $277,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in Terex by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock worth $154,224,000 after purchasing an additional 109,885 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Terex by 18.4% in the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock worth $99,045,000 after buying an additional 285,750 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Terex by 25.6% during the second quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock worth $72,538,000 after acquiring an additional 269,777 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Terex by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 790,118 shares of the industrial products company’s stock valued at $43,330,000 after acquiring an additional 26,377 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Terex by 169.0% in the 2nd quarter. Millennium Management LLC now owns 264,885 shares of the industrial products company’s stock valued at $14,526,000 after acquiring an additional 166,429 shares during the last quarter. Institutional investors own 92.88% of the company’s stock.

Terex Stock Down 1.3 %

Shares of NYSE TEX opened at $45.20 on Friday. Terex Co. has a 1 year low of $44.92 and a 1 year high of $68.08. The firm has a 50-day simple moving average of $53.10 and a two-hundred day simple moving average of $54.28. 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. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16.

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

Terex Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Activity at Terex

In other news, CEO Simon Meester sold 9,877 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David A. Sachs purchased 20,000 shares of the stock in a transaction that occurred on 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 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. 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.