Terex (NYSE:TEX) Upgraded at UBS Group

UBS Group upgraded shares of Terex (NYSE:TEX) from a sell rating to a neutral rating in a report released on Friday morning, MarketBeat.com reports. UBS Group currently has $48.00 target price on the industrial products company’s stock, up from their previous target price of $34.00.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley decreased their price target on Terex from $43.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Evercore ISI reduced their target price on shares of Terex from $63.00 to $59.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. JPMorgan Chase & Co. increased their target price on shares of Terex from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Robert W. Baird raised shares of Terex from a “neutral” rating to an “outperform” rating and raised their price target for the company from $48.00 to $66.00 in a research report on Tuesday, May 13th. Finally, StockNews.com downgraded shares of Terex from a “hold” rating to a “sell” rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Terex currently has an average rating of “Hold” and an average price target of $49.10.

Terex Price Performance

Shares of TEX opened at $48.02 on Friday. The stock has a market cap of $3.18 billion, a P/E ratio of 9.68, a P/E/G ratio of 4.53 and a beta of 1.52. The business’s fifty day moving average is $38.13 and its 200 day moving average is $44.47. 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 has a 12-month low of $31.53 and a 12-month high of $68.08.

Terex (NYSE:TEX) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.26. Terex had a net margin of 6.54% and a return on equity of 21.99%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the firm earned $1.60 earnings per share. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. Sell-side analysts anticipate that Terex will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.42%. The ex-dividend date is Friday, June 6th. Terex’s dividend payout ratio is 18.53%.

Insider Buying and Selling at Terex

In other news, insider Joshua Gross sold 5,389 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $40.75, for a total transaction of $219,601.75. Following the transaction, the insider now owns 38,755 shares of the company’s stock, valued at $1,579,266.25. This represents a 12.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andra Rush purchased 1,325 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $36.96 per share, with a total value of $48,972.00. Following the purchase, the director now directly owns 23,308 shares in the company, valued at $861,463.68. This trade represents a 6.03% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Terex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEX. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Terex in the fourth quarter valued at approximately $59,179,000. FMR LLC grew its stake in Terex by 17.0% in the 4th quarter. FMR LLC now owns 8,782,287 shares of the industrial products company’s stock valued at $405,917,000 after buying an additional 1,272,920 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Terex by 94.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,150,673 shares of the industrial products company’s stock valued at $99,404,000 after acquiring an additional 1,046,600 shares during the period. Norges Bank purchased a new stake in shares of Terex during the fourth quarter worth $35,001,000. Finally, First Trust Advisors LP lifted its position in shares of Terex by 43.2% during the fourth quarter. First Trust Advisors LP now owns 1,930,923 shares of the industrial products company’s stock worth $89,247,000 after acquiring an additional 582,819 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.

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.