Summit Global Investments Sells 6,326 Shares of Terex Co. (NYSE:TEX)

Summit Global Investments lowered its position in Terex Co. (NYSE:TEX) by 35.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,445 shares of the industrial products company’s stock after selling 6,326 shares during the period. Summit Global Investments’ holdings in Terex were worth $658,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. SummerHaven Investment Management LLC increased its position in Terex by 1.6% in the 4th quarter. SummerHaven Investment Management LLC now owns 11,692 shares of the industrial products company’s stock valued at $672,000 after acquiring an additional 188 shares in the last quarter. Greenwich Wealth Management LLC lifted its holdings in Terex by 0.3% during the 4th quarter. Greenwich Wealth Management LLC now owns 61,670 shares of the industrial products company’s stock worth $3,544,000 after buying an additional 209 shares in the last quarter. Arizona State Retirement System lifted its holdings in Terex by 1.1% during the 3rd quarter. Arizona State Retirement System now owns 19,304 shares of the industrial products company’s stock worth $1,112,000 after buying an additional 213 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Terex by 25.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,200 shares of the industrial products company’s stock valued at $69,000 after buying an additional 244 shares during the period. Finally, Kestra Advisory Services LLC raised its position in shares of Terex by 3.4% during the third quarter. Kestra Advisory Services LLC now owns 7,736 shares of the industrial products company’s stock worth $446,000 after acquiring an additional 254 shares during the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Evercore ISI lowered their price objective on Terex from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Tuesday, February 20th. JPMorgan Chase & Co. lowered shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price objective on the stock. in a report on Monday, March 18th. The Goldman Sachs Group raised their price objective on shares of Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. UBS Group cut shares of Terex from a “buy” rating to a “neutral” rating and upped their target price for the company from $61.00 to $62.00 in a research report on Tuesday, February 13th. Finally, Truist Financial started coverage on Terex in a research note on Thursday, March 14th. They set a “buy” rating and a $73.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Terex presently has an average rating of “Hold” and a consensus target price of $65.17.

Insider Transactions at Terex

In related news, insider Kieran Hegarty sold 18,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the completion of the transaction, the insider now owns 198,619 shares in the company, valued at $11,281,559.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Kieran Hegarty sold 18,000 shares of the company’s 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 sale, the insider now owns 198,619 shares in the company, valued at $11,281,559.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joshua Gross sold 4,945 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $59.13, for a total value of $292,397.85. Following the transaction, the insider now directly owns 21,457 shares of the company’s stock, valued at $1,268,752.41. The disclosure for this sale can be found here. Insiders sold 132,039 shares of company stock valued at $8,078,574 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Terex Stock Up 1.5 %

Terex stock opened at $58.35 on Friday. Terex Co. has a twelve month low of $43.70 and a twelve 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 company has a 50 day moving average of $60.34 and a 200-day moving average of $56.39. The stock has a market capitalization of $3.93 billion, a PE ratio of 7.73, a price-to-earnings-growth ratio of 0.57 and a beta of 1.66.

Terex (NYSE:TEX) last released its quarterly 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 firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.23 billion. Terex had a return on equity of 30.53% and a net margin of 9.87%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the business posted $1.34 EPS. On average, equities research analysts anticipate that Terex Co. will post 7.1 EPS for the current fiscal year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Friday, March 8th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Thursday, March 7th. Terex’s dividend payout ratio (DPR) is currently 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.