SummerHaven Investment Management LLC Acquires 188 Shares of Terex Co. (NYSE:TEX)

SummerHaven Investment Management LLC raised its holdings in Terex Co. (NYSE:TEX) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,692 shares of the industrial products company’s stock after purchasing an additional 188 shares during the period. SummerHaven Investment Management LLC’s holdings in Terex were worth $672,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Curated Wealth Partners LLC lifted its position in shares of Terex by 48.1% during the 4th quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock valued at $10,166,000 after acquiring an additional 57,500 shares during the period. QRG Capital Management Inc. acquired a new position in shares of Terex in the 3rd quarter valued at approximately $294,000. International Assets Investment Management LLC lifted its holdings in shares of Terex by 5,549.8% during the 4th quarter. International Assets Investment Management LLC now owns 128,193 shares of the industrial products company’s stock worth $7,366,000 after acquiring an additional 125,924 shares during the period. Trexquant Investment LP increased its stake in Terex by 49.2% in the third quarter. Trexquant Investment LP now owns 64,448 shares of the industrial products company’s stock valued at $3,713,000 after acquiring an additional 21,257 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Terex during the third quarter valued at approximately $302,000. 92.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TEX. Truist Financial began coverage on Terex in a research note on Thursday, March 14th. They issued a “buy” rating and a $73.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. UBS Group lowered shares of Terex from a “buy” rating to a “neutral” rating and raised their target price for the company from $61.00 to $62.00 in a research report on Tuesday, February 13th. Evercore ISI lowered their price target on shares of Terex from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Tuesday, February 20th. Finally, Citigroup raised their price objective on Terex from $54.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $65.08.

Insiders Place Their Bets

In related news, CEO John L. Garrison, Jr. sold 50,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $64.28, for a total transaction of $3,214,000.00. Following the completion of the sale, the chief executive officer now directly owns 315,483 shares of the company’s stock, valued at $20,279,247.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO John L. Garrison, Jr. sold 50,000 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $64.28, for a total transaction of $3,214,000.00. Following the completion of the transaction, the chief executive officer now owns 315,483 shares in the company, valued at approximately $20,279,247.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kieran Hegarty sold 18,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the transaction, the insider now owns 198,619 shares of the company’s stock, valued at approximately $11,281,559.20. The disclosure for this sale can be found here. Insiders have sold a total of 132,039 shares of company stock valued at $8,078,574 in the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Terex Price Performance

Shares of TEX opened at $58.92 on Tuesday. The business’s fifty day moving average is $60.13 and its 200 day moving average is $56.32. Terex Co. has a 12-month low of $43.70 and a 12-month high of $65.89. The company has a quick ratio of 0.95, a current ratio of 2.16 and a debt-to-equity ratio of 0.42. The stock has a market cap of $3.97 billion, a P/E ratio of 7.80, a P/E/G ratio of 0.58 and a beta of 1.64.

Terex (NYSE:TEX) last announced its earnings results on Friday, February 9th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.41. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Terex had a return on equity of 30.53% and a net margin of 9.87%. Terex’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.34 earnings per share. Sell-side analysts anticipate that Terex Co. will post 7.05 earnings per share for the current fiscal year.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Friday, March 8th were paid a $0.17 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.68 annualized dividend and a yield of 1.15%. Terex’s dividend payout ratio (DPR) is 9.01%.

About Terex

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.