Vestcor Inc Acquires 5,250 Shares of Terex Co. (NYSE:TEX)

Vestcor Inc grew its holdings in Terex Co. (NYSE:TEX) by 55.9% during the 4th quarter, Holdings Channel reports. The fund owned 14,650 shares of the industrial products company’s stock after buying an additional 5,250 shares during the period. Vestcor Inc’s holdings in Terex were worth $677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TEX. Moran Wealth Management LLC increased its stake in shares of Terex by 3.7% in the fourth quarter. Moran Wealth Management LLC now owns 46,999 shares of the industrial products company’s stock worth $2,172,000 after purchasing an additional 1,660 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Terex by 21.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,779 shares of the industrial products company’s stock worth $868,000 after purchasing an additional 3,379 shares in the last quarter. Kendall Capital Management increased its stake in shares of Terex by 5.2% in the fourth quarter. Kendall Capital Management now owns 9,720 shares of the industrial products company’s stock worth $449,000 after purchasing an additional 480 shares in the last quarter. Edgestream Partners L.P. increased its stake in shares of Terex by 3.8% in the fourth quarter. Edgestream Partners L.P. now owns 77,830 shares of the industrial products company’s stock worth $3,597,000 after purchasing an additional 2,849 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Terex in the fourth quarter worth $643,000. 92.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TEX. JPMorgan Chase & Co. reduced their price objective on shares of 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 cut their target price on shares of Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. StockNews.com cut shares of Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Citigroup cut their target price on shares of Terex from $57.00 to $48.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, Evercore ISI cut their target price on shares of Terex from $63.00 to $59.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $56.11.

Terex Stock Performance

Shares of NYSE:TEX opened at $40.37 on Monday. Terex Co. has a 52 week low of $36.15 and a 52 week high of $68.08. The stock has a market capitalization of $2.68 billion, a P/E ratio of 8.14, a PEG ratio of 4.53 and a beta of 1.56. The firm has a fifty day simple moving average of $44.65 and a two-hundred day simple moving average of $49.42. 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 (NYSE:TEX) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same period in the previous year, the company posted $1.88 earnings per share. On average, analysts expect that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th will be issued a $0.17 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.68 annualized dividend and a dividend yield of 1.68%. Terex’s dividend payout ratio (DPR) is presently 13.71%.

Insider Transactions at Terex

In other news, Director Andra Rush bought 1,325 shares of the stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the acquisition, the director now owns 23,308 shares of the company’s stock, valued at $861,463.68. The trade was a 6.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.90% of the company’s stock.

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.