Terex (NYSE:TEX) Sets New 52-Week Low – What’s Next?

Terex Co. (NYSE:TEX) reached a new 52-week low on Thursday . The company traded as low as $44.32 and last traded at $44.61, with a volume of 250228 shares trading hands. The stock had previously closed at $46.22.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Citigroup dropped their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Truist Financial reduced their target price on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Robert W. Baird reduced their price objective on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group lowered their target price on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $58.78.

Terex Price Performance

The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The company has a 50 day simple moving average of $51.05 and a 200 day simple moving average of $53.49. The stock has a market cap of $3.06 billion, a P/E ratio of 6.68, a PEG ratio of 4.00 and a beta of 1.53.

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, beating the consensus estimate of $1.31 by $0.15. Terex had a net margin of 9.08% and a return on equity of 24.92%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business earned $1.75 EPS. The company’s revenue was down 6.0% compared to the same quarter last year. Sell-side analysts forecast that Terex Co. will post 6.07 earnings per share for the current fiscal year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 8th were issued a $0.17 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.49%. Terex’s payout ratio is 9.93%.

Insider Buying and Selling at Terex

In other Terex news, CEO Simon Meester sold 9,877 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total value of $505,109.78. Following the transaction, the chief executive officer now directly owns 127,858 shares of the company’s stock, valued at $6,538,658.12. This represents a 7.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David A. Sachs bought 20,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were purchased at an average cost 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 approximately $6,840,625. This represents a 17.02 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of Terex

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Terex by 83.3% during the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after buying an additional 335 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Terex during the third quarter worth about $40,000. Truvestments Capital LLC bought a new position in shares of Terex in the third quarter worth about $41,000. Blue Trust Inc. boosted its stake in shares of Terex by 89.3% in the 3rd quarter. Blue Trust Inc. now owns 969 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 457 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Terex by 74.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 504 shares during the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

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.