Edgestream Partners L.P. Boosts Stock Position in Terex Co. (NYSE:TEX)

Edgestream Partners L.P. grew its stake in shares of Terex Co. (NYSE:TEX) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,830 shares of the industrial products company’s stock after acquiring an additional 2,849 shares during the period. Edgestream Partners L.P.’s holdings in Terex were worth $3,597,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TEX. US Bancorp DE lifted its position in shares of Terex by 4.0% during the third quarter. US Bancorp DE now owns 5,837 shares of the industrial products company’s stock worth $309,000 after acquiring an additional 227 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Terex by 74.6% during the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 504 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Terex by 7.6% during the third quarter. QRG Capital Management Inc. now owns 6,037 shares of the industrial products company’s stock worth $319,000 after acquiring an additional 424 shares in the last quarter. Summit Global Investments lifted its position in shares of Terex by 302.4% during the third quarter. Summit Global Investments now owns 22,141 shares of the industrial products company’s stock worth $1,171,000 after acquiring an additional 16,639 shares in the last quarter. Finally, Easterly Investment Partners LLC lifted its position in shares of Terex by 18.7% during the third quarter. Easterly Investment Partners LLC now owns 32,490 shares of the industrial products company’s stock worth $1,719,000 after acquiring an additional 5,123 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Insider Activity

In other news, CEO Simon Meester sold 9,877 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total transaction of $505,109.78. Following the transaction, the chief executive officer now directly owns 127,858 shares of the company’s stock, valued at approximately $6,538,658.12. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David A. Sachs acquired 20,000 shares of Terex stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of $49.75 per share, for a total transaction of $995,000.00. Following the completion of the purchase, the director now directly owns 137,500 shares of the company’s stock, valued at approximately $6,840,625. The trade was a 17.02 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 31,325 shares of company stock valued at $1,556,972. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TEX shares. Barclays lowered their price objective on Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Truist Financial lowered their price objective on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. lowered their price objective on Terex from $59.00 to $52.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. StockNews.com downgraded Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Finally, Citigroup lowered their price objective on Terex from $57.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $56.11.

Terex Stock Up 1.5 %

TEX opened at $41.02 on Friday. The stock has a market cap of $2.72 billion, a PE ratio of 8.27, a P/E/G ratio of 4.53 and a beta of 1.56. 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 business’s fifty day simple moving average is $45.20 and its 200 day simple moving average is $49.98.

Terex (NYSE:TEX) last released its earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm earned $1.88 EPS. As a group, research analysts expect that Terex Co. 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 Wednesday, March 19th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.66%. Terex’s dividend payout ratio (DPR) is currently 13.71%.

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.