Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Terex Co. (NYSE:TEX)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Terex Co. (NYSE:TEX) by 21.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,779 shares of the industrial products company’s stock after purchasing an additional 3,379 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Terex were worth $868,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Cascade Investment Advisors Inc. purchased a new stake in Terex in the 4th quarter valued at $1,070,000. Barclays PLC increased its stake in Terex by 40.2% in the third quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock valued at $6,838,000 after purchasing an additional 37,072 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Terex in the third quarter valued at about $4,283,000. Citigroup Inc. boosted its stake in shares of Terex by 65.6% during the third quarter. Citigroup Inc. now owns 70,443 shares of the industrial products company’s stock worth $3,727,000 after buying an additional 27,896 shares during the period. Finally, Cerity Partners LLC grew its holdings in shares of Terex by 331.8% during the third quarter. Cerity Partners LLC now owns 24,725 shares of the industrial products company’s stock worth $1,308,000 after buying an additional 18,999 shares during the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Terex

In other Terex news, Director Andra Rush purchased 1,325 shares of Terex stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $36.96 per share, with a total value of $48,972.00. Following the completion of the acquisition, the director now directly owns 23,308 shares of the company’s stock, valued at approximately $861,463.68. This trade represents a 6.03 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by corporate insiders.

Terex Stock Performance

Shares of TEX opened at $39.07 on Friday. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41. Terex Co. has a 52-week low of $36.15 and a 52-week high of $68.08. The company has a 50-day simple moving average of $44.19 and a 200-day simple moving average of $49.05. The company has a market capitalization of $2.59 billion, a PE ratio of 7.88, a P/E/G ratio of 4.53 and a beta of 1.56.

Terex (NYSE:TEX) last issued its earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the firm earned $1.88 earnings per share. Equities research analysts predict that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.74%. Terex’s payout ratio is 13.71%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Terex from $51.00 to $48.00 and set a “neutral” rating for the company in a research report on Tuesday. Barclays decreased their price target on Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. StockNews.com cut shares of Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. The Goldman Sachs Group cut their price objective on shares of Terex from $60.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Truist Financial lowered their target price on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $54.22.

Terex 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.