Vestcor Inc Purchases Shares of 9,400 Terex Co. (NYSE:TEX)

Vestcor Inc acquired a new stake in Terex Co. (NYSE:TEX) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 9,400 shares of the industrial products company’s stock, valued at approximately $497,000.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. raised its stake in Terex by 57.5% in the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 187 shares in the last quarter. GAMMA Investing LLC grew its position in Terex by 83.3% during the third 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. Truvestments Capital LLC bought a new position in Terex during the 3rd quarter worth $41,000. Farther Finance Advisors LLC lifted its position 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 acquiring an additional 504 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Terex during the 2nd quarter worth $109,000. 92.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TEX. 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. Truist Financial raised their target price on shares of Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, November 4th. The Goldman Sachs Group lowered their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Citigroup cut their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. Finally, JPMorgan Chase & Co. dropped their target price on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $59.56.

Insider Activity at Terex

In other Terex news, CEO Simon Meester sold 9,877 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total value of $505,109.78. Following the completion of the sale, the chief executive officer now owns 127,858 shares in the company, valued at approximately $6,538,658.12. This trade represents a 7.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David A. Sachs bought 10,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was acquired at an average price of $51.30 per share, for a total transaction of $513,000.00. Following the purchase, the director now directly owns 107,500 shares in the company, valued at approximately $5,514,750. The trade was a 10.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by insiders.

Terex Stock Performance

TEX opened at $49.57 on Friday. Terex Co. has a 1-year low of $48.11 and a 1-year high of $68.08. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 4.09 and a beta of 1.53. The company’s fifty day moving average price is $53.61 and its two-hundred day moving average price is $54.63. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32.

Terex (NYSE:TEX) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.15. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.75 EPS. On average, analysts expect that Terex Co. will post 6.07 EPS for the current fiscal year.

Terex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 annualized dividend and a yield of 1.37%. Terex’s dividend payout ratio (DPR) is currently 9.93%.

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.