Moran Wealth Management LLC Acquires 1,209 Shares of Terex Co. (NYSE:TEX)

Moran Wealth Management LLC grew its holdings in Terex Co. (NYSE:TEX) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,339 shares of the industrial products company’s stock after purchasing an additional 1,209 shares during the period. Moran Wealth Management LLC owned approximately 0.07% of Terex worth $2,399,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. State Board of Administration of Florida Retirement System grew its position in shares of Terex by 27.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 24,553 shares of the industrial products company’s stock valued at $1,581,000 after purchasing an additional 5,359 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in Terex by 5.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 9,511 shares of the industrial products company’s stock valued at $613,000 after acquiring an additional 525 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Terex by 9.9% in the 1st quarter. Advisors Asset Management Inc. now owns 45,517 shares of the industrial products company’s stock worth $2,931,000 after purchasing an additional 4,083 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Terex by 0.5% in the 1st quarter. Lazard Asset Management LLC now owns 161,183 shares of the industrial products company’s stock valued at $10,379,000 after purchasing an additional 854 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Terex by 5.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 75,482 shares of the industrial products company’s stock valued at $4,862,000 after purchasing an additional 3,573 shares in the last quarter. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TEX. JPMorgan Chase & Co. dropped their price objective on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Evercore ISI decreased their price objective on shares of Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Truist Financial lifted 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. Citigroup lowered their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. Finally, Robert W. Baird cut their target price on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. One equities research 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. According to MarketBeat, Terex presently has a consensus rating of “Hold” and an average price target of $59.56.

Terex Stock Up 1.4 %

Shares of NYSE:TEX opened at $52.89 on Friday. Terex Co. has a 12-month low of $48.11 and a 12-month high of $68.08. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The stock’s 50-day moving average price is $53.38 and its 200-day moving average price is $55.52. The stock has a market capitalization of $3.53 billion, a P/E ratio of 7.72, a price-to-earnings-growth ratio of 4.15 and a beta of 1.53.

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

Terex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Friday, November 8th. Terex’s dividend payout ratio (DPR) is 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.