Terex (NYSE:TEX) Hits New 12-Month Low – Here’s Why

Shares of Terex Co. (NYSE:TEX) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $44.32 and last traded at $44.61, with a volume of 250228 shares trading hands. The stock had previously closed at $46.22.

Wall Street Analyst Weigh In

A number of research firms have commented on TEX. Citigroup reduced their target price on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Truist Financial decreased their target price on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Robert W. Baird reduced their price target on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. The Goldman Sachs Group decreased their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. reduced their price objective on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $58.78.

Terex Stock Down 4.4 %

The stock has a market capitalization of $2.95 billion, a P/E ratio of 6.45, a P/E/G ratio of 4.00 and a beta of 1.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39. The company’s 50-day moving average price is $51.37 and its 200 day moving average price is $53.61.

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

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 8th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.54%. Terex’s payout ratio is 9.93%.

Insider Buying and Selling

In other news, CEO Simon Meester sold 9,877 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total value of $505,109.78. Following the completion of the sale, the chief executive officer now directly owns 127,858 shares of the company’s stock, valued at $6,538,658.12. This trade represents a 7.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Sachs bought 20,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of $49.75 per share, for a total transaction of $995,000.00. Following the transaction, the director now owns 137,500 shares in the company, valued at approximately $6,840,625. The trade was a 17.02 % increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TEX. Greenwich Wealth Management LLC raised its holdings in shares of Terex by 0.3% in the third quarter. Greenwich Wealth Management LLC now owns 62,371 shares of the industrial products company’s stock worth $3,300,000 after buying an additional 181 shares during the period. Dorsey Wright & Associates increased its stake in Terex by 0.3% in the second quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company’s stock worth $3,362,000 after purchasing an additional 186 shares during the period. US Bancorp DE increased its stake in Terex by 4.0% in the third quarter. US Bancorp DE now owns 5,837 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 227 shares during the period. Lingohr Asset Management GmbH lifted its position in shares of Terex by 2.0% during the third quarter. Lingohr Asset Management GmbH now owns 11,516 shares of the industrial products company’s stock worth $607,000 after purchasing an additional 230 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in shares of Terex by 4.4% in the third quarter. Verdence Capital Advisors LLC now owns 5,575 shares of the industrial products company’s stock worth $295,000 after purchasing an additional 233 shares during the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.

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.