Cascade Investment Advisors Inc. Buys Shares of 23,150 Terex Co. (NYSE:TEX)

Cascade Investment Advisors Inc. bought a new position in Terex Co. (NYSE:TEX) in the fourth quarter, Holdings Channel.com reports. The firm bought 23,150 shares of the industrial products company’s stock, valued at approximately $1,070,000.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in Terex by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,596,070 shares of the industrial products company’s stock valued at $84,463,000 after acquiring an additional 8,624 shares during the period. Millennium Management LLC boosted its stake in Terex by 169.0% during the second 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 in the last quarter. Verition Fund Management LLC increased its position in Terex by 3.9% in the 3rd quarter. Verition Fund Management LLC now owns 241,280 shares of the industrial products company’s stock valued at $12,766,000 after buying an additional 8,979 shares in the last quarter. Curated Wealth Partners LLC increased its holdings in shares of Terex by 28.3% during the fourth quarter. Curated Wealth Partners LLC now owns 226,922 shares of the industrial products company’s stock valued at $10,488,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Zimmer Partners LP raised its holdings in Terex by 15.6% during the third quarter. Zimmer Partners LP now owns 185,000 shares of the industrial products company’s stock worth $9,788,000 after buying an additional 25,000 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Terex Price Performance

Terex stock opened at $48.55 on Tuesday. 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 business’s 50 day simple moving average is $48.89 and its 200 day simple moving average is $52.73. Terex Co. has a 12 month low of $43.50 and a 12 month high of $68.08. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 7.09, a PEG ratio of 4.49 and a beta of 1.55.

Terex (NYSE:TEX) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.15. Terex had a return on equity of 24.92% and a net margin of 9.08%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company earned $1.75 EPS. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. Sell-side analysts forecast that Terex Co. will post 6.08 EPS for the current year.

Wall Street Analysts Forecast Growth

TEX has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Terex from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Truist Financial lowered their price target on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Citigroup dropped their target price on shares of Terex from $57.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, 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 report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.63.

Insider Transactions at Terex

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

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.