Terex (NYSE:TEX) Trading Down 4.8% – Here’s What Happened

Terex Co. (NYSE:TEX) traded down 4.8% on Wednesday . The stock traded as low as $51.61 and last traded at $51.63. 505,440 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 819,619 shares. The stock had previously closed at $54.26.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TEX. Jefferies Financial Group decreased their price objective on Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Citigroup dropped their target price on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. JPMorgan Chase & Co. decreased their target price on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Robert W. Baird raised their price target on Terex from $63.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group cut their price target on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.33.

Terex Stock Down 5.4 %

The company has a debt-to-equity ratio of 0.36, a current ratio of 2.21 and a quick ratio of 1.07. The stock has a market capitalization of $3.43 billion, a P/E ratio of 7.23, a price-to-earnings-growth ratio of 4.47 and a beta of 1.53. The firm has a 50 day moving average of $53.47 and a 200-day moving average of $56.24.

Terex (NYSE:TEX) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.10. Terex had a return on equity of 27.89% and a net margin of 9.55%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the company earned $2.35 EPS. Terex’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities research analysts expect that Terex Co. will post 5.89 earnings per share for the current fiscal year.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, November 8th. Terex’s dividend payout ratio is currently 9.33%.

Insider Activity at Terex

In other news, Director Andra Rush bought 2,205 shares of the stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the acquisition, the director now owns 21,983 shares in the company, valued at approximately $1,194,995.88. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Terex

Several hedge funds have recently bought and sold shares of TEX. HM Payson & Co. acquired a new stake in Terex in the 1st quarter valued at about $24,429,000. Curated Wealth Partners LLC lifted its position in Terex by 200.0% during the second quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock worth $9,702,000 after acquiring an additional 353,844 shares during the last quarter. AQR Capital Management LLC lifted its position in Terex by 18.4% during the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock worth $99,045,000 after acquiring an additional 285,750 shares during the last quarter. American Century Companies Inc. lifted its position 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 last quarter. Finally, Millennium Management LLC lifted its position 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 during the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

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.