Hancock Whitney Corp Sells 1,005 Shares of Terex Co. (NYSE:TEX)

Hancock Whitney Corp reduced its stake in Terex Co. (NYSE:TEX) by 0.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233,520 shares of the industrial products company’s stock after selling 1,005 shares during the period. Hancock Whitney Corp owned approximately 0.35% of Terex worth $12,356,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. HM Payson & Co. bought a new position in Terex in the 1st quarter worth about $24,429,000. Curated Wealth Partners LLC lifted its holdings in shares of Terex by 200.0% in the second quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock worth $9,702,000 after buying an additional 353,844 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Terex by 18.4% in the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock valued at $99,045,000 after acquiring an additional 285,750 shares during the period. American Century Companies Inc. grew its stake in Terex by 25.6% during the second quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock valued at $72,538,000 after acquiring an additional 269,777 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Terex by 169.0% during the 2nd quarter. Millennium Management LLC now owns 264,885 shares of the industrial products company’s stock worth $14,526,000 after acquiring an additional 166,429 shares during the period. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Evercore ISI reduced their price target on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Robert W. Baird reduced their target price on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. decreased their target price on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Truist Financial lifted their price target on Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, The Goldman Sachs Group decreased their price objective on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $59.56.

Terex Price Performance

Shares of Terex stock opened at $53.80 on Monday. The business’s 50-day moving average price is $53.43 and its 200-day moving average price is $55.41. The firm has a market capitalization of $3.59 billion, a PE ratio of 7.85, a price-to-earnings-growth ratio of 4.34 and a beta of 1.53. 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.

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

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, November 8th. This represents a $0.68 annualized dividend and a yield of 1.26%. Terex’s payout ratio is 9.93%.

Terex 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.