International Assets Investment Management LLC Increases Position in Terex Co. (NYSE:TEX)

International Assets Investment Management LLC lifted its holdings in shares of Terex Co. (NYSE:TEX) by 5,549.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 128,193 shares of the industrial products company’s stock after buying an additional 125,924 shares during the period. International Assets Investment Management LLC owned approximately 0.19% of Terex worth $7,366,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its position in Terex by 12.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 7,670 shares of the industrial products company’s stock worth $442,000 after acquiring an additional 851 shares during the period. Stratos Wealth Partners LTD. acquired a new stake in shares of Terex during the third quarter worth $602,000. Bailard Inc. grew its position in Terex by 13.5% in the 3rd quarter. Bailard Inc. now owns 5,045 shares of the industrial products company’s stock valued at $291,000 after buying an additional 600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Terex by 16.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,843 shares of the industrial products company’s stock valued at $913,000 after buying an additional 2,266 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Terex by 7.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 386,230 shares of the industrial products company’s stock worth $22,255,000 after buying an additional 27,002 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Terex Trading Up 2.3 %

Shares of TEX opened at $59.69 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.16 and a quick ratio of 1.06. Terex Co. has a 1-year low of $43.70 and a 1-year high of $65.89. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 7.73 and a beta of 1.66. The firm has a 50 day simple moving average of $60.34 and a 200-day simple moving average of $56.44.

Terex (NYSE:TEX) last released its quarterly earnings results on Friday, February 9th. The industrial products company reported $1.41 earnings per share for the quarter, hitting the consensus estimate of $1.41. Terex had a return on equity of 30.53% and a net margin of 9.87%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the business posted $1.34 earnings per share. Terex’s revenue was up .4% compared to the same quarter last year. Equities analysts forecast that Terex Co. will post 7.1 EPS for the current fiscal year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders 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 yield of 1.14%. Terex’s dividend payout ratio (DPR) is 9.01%.

Insiders Place Their Bets

In other news, insider Kieran Hegarty sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total value of $1,022,400.00. Following the completion of the transaction, the insider now owns 198,619 shares of the company’s stock, valued at $11,281,559.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO John L. Garrison, Jr. sold 59,094 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $60.07, for a total transaction of $3,549,776.58. Following the sale, the chief executive officer now owns 380,834 shares in the company, valued at $22,876,698.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kieran Hegarty sold 18,000 shares of Terex stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total value of $1,022,400.00. Following the completion of the sale, the insider now directly owns 198,619 shares of the company’s stock, valued at approximately $11,281,559.20. The disclosure for this sale can be found here. Insiders have sold 132,039 shares of company stock valued at $8,078,574 in the last ninety days. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TEX shares. Citigroup boosted their price target on shares of Terex from $54.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Bank of America restated an “underperform” rating and issued a $57.00 price target on shares of Terex in a research note on Friday, January 19th. Truist Financial assumed coverage on Terex in a research report on Thursday, March 14th. They issued a “buy” rating and a $73.00 price objective for the company. JPMorgan Chase & Co. lowered shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 target price on the stock. in a research report on Monday, March 18th. Finally, The Goldman Sachs Group raised 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. One equities 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $65.17.

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.