Terex (NYSE:TEX) Sets New 1-Year Low – Here’s Why

Shares of Terex Co. (NYSE:TEX) hit a new 52-week low on Thursday . The company traded as low as $44.32 and last traded at $44.61, with a volume of 250228 shares traded. The stock had previously closed at $46.22.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Robert W. Baird reduced their price target on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. reduced their price objective on shares of Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. The Goldman Sachs Group cut their target price on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Truist Financial decreased their price target on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Citigroup cut their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $58.78.

Terex Stock Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. The stock has a fifty day simple moving average of $51.05 and a two-hundred day simple moving average of $53.49. The firm has a market capitalization of $3.06 billion, a P/E ratio of 6.68, a P/E/G ratio of 4.00 and a beta of 1.53.

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

Terex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 8th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Friday, November 8th. Terex’s payout ratio is 9.93%.

Insiders Place Their Bets

In related news, Director David A. Sachs acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was purchased at an average cost of $51.30 per share, with a total value of $513,000.00. Following the acquisition, the director now owns 107,500 shares of the company’s stock, valued at approximately $5,514,750. This trade represents a 10.26 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Simon Meester sold 9,877 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total value of $505,109.78. Following the completion of the transaction, the chief executive officer now owns 127,858 shares in the company, valued at $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.

Institutional Investors Weigh In On Terex

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in Terex by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock worth $154,224,000 after purchasing an additional 109,885 shares in the last quarter. AQR Capital Management LLC grew its holdings 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Terex by 0.5% during the third 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 last quarter. American Century Companies Inc. lifted its holdings 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 worth $72,538,000 after acquiring an additional 269,777 shares during the period. Finally, Millennium Management LLC boosted its position in Terex by 169.0% in the second quarter. Millennium Management LLC now owns 264,885 shares of the industrial products company’s stock worth $14,526,000 after purchasing an additional 166,429 shares during the last quarter. Institutional investors own 92.88% 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.