Terex Co. (NYSE:TEX) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in shares of Terex Co. (NYSE:TEX) by 15.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 762,478 shares of the industrial products company’s stock after selling 143,057 shares during the quarter. Victory Capital Management Inc. owned 1.14% of Terex worth $40,343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TEX. HM Payson & Co. acquired a new position in shares of Terex during the first quarter worth about $24,429,000. Curated Wealth Partners LLC increased its stake in shares of 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 period. AQR Capital Management LLC boosted its holdings 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 buying an additional 285,750 shares in the last quarter. American Century Companies Inc. boosted 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 buying an additional 269,777 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings 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 buying an additional 166,429 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TEX shares. Truist Financial boosted their price objective on shares of Terex from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Robert W. Baird decreased their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Evercore ISI decreased their price objective on shares of Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. JPMorgan Chase & Co. decreased their price objective on shares of Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, The Goldman Sachs Group reduced their price target on shares of 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, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Terex presently has a consensus rating of “Hold” and a consensus target price of $59.56.

Terex Stock Down 1.1 %

TEX stock opened at $51.98 on Friday. The company’s 50 day simple moving average is $53.23 and its 200-day simple moving average is $55.65. The firm has a market capitalization of $3.47 billion, a PE ratio of 7.59, a P/E/G ratio of 4.17 and a beta of 1.53. Terex Co. has a 12 month low of $48.11 and a 12 month high of $68.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16.

Terex (NYSE:TEX) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. Terex had a net margin of 9.08% and a return on equity of 24.92%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business earned $1.75 earnings per share. Terex’s revenue was down 6.0% compared to the same quarter last year. Equities analysts expect that Terex Co. will post 6.07 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.31%. Terex’s dividend payout ratio (DPR) is currently 9.93%.

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.