Terex (NYSE:TEX) Hits New 52-Week Low on Analyst Downgrade

Shares of Terex Co. (NYSE:TEX) reached a new 52-week low during mid-day trading on Monday after Barclays lowered their price target on the stock from $60.00 to $52.00. Barclays currently has an equal weight rating on the stock. Terex traded as low as $43.23 and last traded at $43.82, with a volume of 325721 shares changing hands. The stock had previously closed at $44.75.

A number of other research analysts also recently issued reports on TEX. Truist Financial decreased their price target on shares of Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Robert W. Baird dropped their target price on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. decreased their price target on Terex from $59.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. StockNews.com downgraded Terex from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Finally, Citigroup decreased their target price on Terex from $57.00 to $48.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Terex has a consensus rating of “Hold” and a consensus target price of $56.11.

Insider Activity at Terex

In related news, Director David A. Sachs bought 20,000 shares of the stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $49.75 per share, for a total transaction of $995,000.00. Following the purchase, the director now 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Simon Meester sold 9,877 shares of the business’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 directly owns 127,858 shares in the company, valued at $6,538,658.12. This represents 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 owned by insiders.

Institutional Investors Weigh In On Terex

A number of hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake in shares of Terex by 8.4% in the fourth quarter. American Century Companies Inc. now owns 1,741,206 shares of the industrial products company’s stock valued at $80,479,000 after purchasing an additional 135,286 shares during the period. Regents Gate Capital LLP acquired a new stake in shares of Terex during the 4th quarter valued at approximately $5,561,000. Point72 Asset Management L.P. purchased a new stake in shares of Terex during the 3rd quarter worth approximately $4,283,000. Foundry Partners LLC acquired a new position in Terex during the third quarter worth $3,881,000. Finally, Bank of New York Mellon Corp boosted its position in Terex by 7.9% during the fourth quarter. Bank of New York Mellon Corp now owns 725,486 shares of the industrial products company’s stock worth $33,532,000 after purchasing an additional 52,885 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Terex Price Performance

The company has a market cap of $3.05 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 4.53 and a beta of 1.54. The company has a fifty day simple moving average of $47.29 and a two-hundred day simple moving average of $51.65. The company has a quick ratio of 1.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.41.

Terex (NYSE:TEX) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, beating the consensus estimate 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 last year, the firm earned $1.88 EPS. On average, equities research analysts anticipate that Terex Co. will post 5.03 earnings per share for the current fiscal year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.49%. Terex’s dividend payout ratio (DPR) is presently 13.71%.

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.