Louisiana State Employees Retirement System Invests $1.09 Million in Terex Co. (NYSE:TEX)

Louisiana State Employees Retirement System bought a new position in Terex Co. (NYSE:TEX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 18,900 shares of the industrial products company’s stock, valued at approximately $1,086,000.

Several other large investors have also recently modified their holdings of the business. Perigon Wealth Management LLC increased its stake in shares of Terex by 6.8% in the fourth quarter. Perigon Wealth Management LLC now owns 8,831 shares of the industrial products company’s stock worth $507,000 after purchasing an additional 563 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Terex by 36.2% in the fourth quarter. Cerity Partners LLC now owns 5,777 shares of the industrial products company’s stock worth $332,000 after purchasing an additional 1,536 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Terex in the fourth quarter worth about $234,000. Allspring Global Investments Holdings LLC grew its stake in Terex by 98.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 141,252 shares of the industrial products company’s stock valued at $8,116,000 after acquiring an additional 70,012 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Terex by 5,549.8% during the fourth quarter. International Assets Investment Management LLC now owns 128,193 shares of the industrial products company’s stock valued at $7,366,000 after acquiring an additional 125,924 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Insider Transactions at Terex

In other news, insider Joshua Gross sold 4,945 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $59.13, for a total value of $292,397.85. Following the completion of the sale, the insider now directly owns 21,457 shares in the company, valued at approximately $1,268,752.41. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO John L. Garrison, Jr. sold 59,094 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $60.07, for a total transaction of $3,549,776.58. Following the completion of the sale, the chief executive officer now directly owns 380,834 shares in the company, valued at approximately $22,876,698.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joshua Gross sold 4,945 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $59.13, for a total transaction of $292,397.85. Following the sale, the insider now owns 21,457 shares of the company’s stock, valued at $1,268,752.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 132,039 shares of company stock worth $8,078,574. 1.90% of the stock is currently owned by insiders.

Terex Trading Up 0.4 %

Shares of TEX opened at $61.00 on Wednesday. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 8.04, a PEG ratio of 0.60 and a beta of 1.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.95 and a current ratio of 2.01. Terex Co. has a fifty-two week low of $42.50 and a fifty-two week high of $65.89. The firm has a 50 day moving average price of $59.82 and a 200-day moving average price of $56.18.

Terex (NYSE:TEX) last announced its quarterly earnings data on Friday, February 9th. The industrial products company reported $1.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.41. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.23 billion. Terex had a net margin of 10.06% and a return on equity of 32.89%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the business posted $1.34 EPS. As a group, equities research analysts forecast that Terex Co. will post 6.96 earnings per share for the current year.

Terex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Friday, March 8th were issued a $0.17 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.11%. Terex’s payout ratio is 8.96%.

Analyst Upgrades and Downgrades

TEX has been the subject of several recent analyst reports. Evercore ISI reduced their price objective on shares of Terex from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Tuesday, February 20th. The Goldman Sachs Group boosted their price objective on shares of Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. Truist Financial initiated coverage on shares of Terex in a research note on Thursday, March 14th. They set a “buy” rating and a $73.00 price objective for the company. JPMorgan Chase & Co. cut shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price objective for the company. in a research note on Monday, March 18th. Finally, Citigroup boosted their price objective on shares of Terex from $54.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $65.08.

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.