FCG Investment Co Grows Position in Terex Co. (NYSE:TEX)

FCG Investment Co lifted its position in Terex Co. (NYSE:TEX) by 4.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 6,314 shares of the industrial products company’s stock after purchasing an additional 285 shares during the period. FCG Investment Co’s holdings in Terex were worth $407,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. SummerHaven Investment Management LLC grew its holdings 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 worth $672,000 after acquiring an additional 188 shares during the last quarter. Greenwich Wealth Management LLC boosted its holdings in shares of Terex by 0.3% during the fourth quarter. Greenwich Wealth Management LLC now owns 61,670 shares of the industrial products company’s stock worth $3,544,000 after purchasing an additional 209 shares during the period. QRG Capital Management Inc. grew its stake in shares of Terex by 4.6% in the fourth quarter. QRG Capital Management Inc. now owns 5,332 shares of the industrial products company’s stock worth $306,000 after purchasing an additional 234 shares during the last quarter. Blue Trust Inc. increased its holdings in Terex by 179.0% during the 4th quarter. Blue Trust Inc. now owns 466 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 299 shares during the period. Finally, State of Michigan Retirement System raised its position in Terex by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 16,418 shares of the industrial products company’s stock valued at $1,057,000 after purchasing an additional 300 shares during the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TEX. Truist Financial cut their price objective on Terex from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday. Raymond James started coverage on shares of Terex in a research report on Friday, June 28th. They issued a “market perform” rating for the company. UBS Group increased their price target on shares of Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Citigroup assumed coverage on shares of Terex in a report on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 price objective for the company. Finally, JPMorgan Chase & Co. downgraded Terex from an “overweight” rating to a “neutral” rating and set a $63.00 target price on the stock. in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $64.67.

Insider Activity at Terex

In other news, VP Scott Posner sold 12,500 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $60.48, for a total value of $756,000.00. Following the completion of the transaction, the vice president now owns 58,224 shares in the company, valued at $3,521,387.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Kieran Hegarty sold 17,190 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $58.26, for a total transaction of $1,001,489.40. Following the transaction, the insider now owns 200,029 shares in the company, valued at $11,653,689.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Scott Posner sold 12,500 shares of Terex stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $60.48, for a total transaction of $756,000.00. Following the completion of the sale, the vice president now directly owns 58,224 shares of the company’s stock, valued at approximately $3,521,387.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,929 shares of company stock valued at $1,958,307. 1.90% of the stock is owned by corporate insiders.

Terex Stock Up 1.5 %

TEX stock traded up $0.82 on Thursday, reaching $54.20. 408,449 shares of the company traded hands, compared to its average volume of 851,319. The firm has a fifty day simple moving average of $57.62 and a 200-day simple moving average of $58.78. The company has a market cap of $3.65 billion, a P/E ratio of 7.18 and a beta of 1.57. Terex Co. has a one year low of $43.70 and a one year high of $65.89. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.16 and a quick ratio of 1.06.

Terex (NYSE:TEX) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.23. The firm had revenue of $1.29 billion during 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%. Research analysts anticipate that Terex Co. will post 7.11 earnings per share for the current year.

Terex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were issued a $0.17 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.68 dividend on an annualized basis and a yield of 1.25%. Terex’s payout ratio is currently 9.01%.

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.