Alliancebernstein L.P. Cuts Stake in Terex Co. (NYSE:TEX)

Alliancebernstein L.P. lessened its stake in Terex Co. (NYSE:TEX) by 6.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 130,771 shares of the industrial products company’s stock after selling 8,589 shares during the quarter. Alliancebernstein L.P.’s holdings in Terex were worth $6,044,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TEX. Jones Financial Companies Lllp purchased a new stake in Terex in the 4th quarter worth $31,000. Smartleaf Asset Management LLC lifted its position in shares of Terex by 46.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock worth $32,000 after buying an additional 222 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Terex in the third quarter worth about $40,000. VisionPoint Advisory Group LLC bought a new position in Terex during the fourth quarter valued at approximately $51,000. Finally, Blue Trust Inc. grew its holdings in Terex by 26.8% during the 4th quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company’s stock valued at $57,000 after buying an additional 260 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.

Terex Trading Up 2.2 %

Shares of NYSE TEX opened at $34.95 on Friday. Terex Co. has a fifty-two week low of $31.53 and a fifty-two week high of $68.08. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 7.05, a PEG ratio of 4.53 and a beta of 1.40. The business’s 50 day moving average price is $40.44 and its 200-day moving average price is $47.12.

Terex (NYSE:TEX) last released its earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.01. Terex had a return on equity of 21.99% and a net margin of 6.54%. During the same quarter in the prior year, the business earned $1.88 earnings per share. On average, sell-side analysts expect that Terex Co. will post 4.83 earnings per share for the current year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were paid a $0.17 dividend. 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 1.95%. Terex’s dividend payout ratio is currently 13.71%.

Insider Transactions at Terex

In other news, Director Andra Rush purchased 1,325 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $36.96 per share, with a total value of $48,972.00. Following the transaction, the director now owns 23,308 shares of the company’s stock, valued at $861,463.68. This represents a 6.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TEX. Evercore ISI decreased their price objective on Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. The Goldman Sachs Group lowered 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, March 19th. UBS Group downgraded shares of Terex from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $49.00 to $32.00 in a report on Monday, April 7th. Truist Financial lowered their price target on shares of Terex from $58.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, StockNews.com cut Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Terex currently has an average rating of “Hold” and an average price target of $48.44.

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.