Thoroughbred Financial Services LLC Decreases Stock Holdings in Terex Co. (NYSE:TEX)

Thoroughbred Financial Services LLC decreased its holdings in shares of Terex Co. (NYSE:TEX) by 11.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,009 shares of the industrial products company’s stock after selling 2,147 shares during the period. Thoroughbred Financial Services LLC’s holdings in Terex were worth $1,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TEX. Norges Bank purchased a new position in Terex in the 4th quarter valued at $42,606,000. Greenhaven Associates Inc. increased its stake in shares of Terex by 101.5% in the 4th quarter. Greenhaven Associates Inc. now owns 1,456,700 shares of the industrial products company’s stock worth $83,702,000 after acquiring an additional 733,690 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Terex by 94.6% in the 3rd quarter. American Century Companies Inc. now owns 542,048 shares of the industrial products company’s stock worth $31,233,000 after acquiring an additional 263,435 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Terex by 356.0% in the 4th quarter. Allianz Asset Management GmbH now owns 207,155 shares of the industrial products company’s stock worth $11,903,000 after acquiring an additional 161,729 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Terex by 42.6% in the 4th quarter. First Trust Advisors LP now owns 520,820 shares of the industrial products company’s stock worth $29,926,000 after acquiring an additional 155,706 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Citigroup assumed coverage on Terex in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 target price for the company. UBS Group raised their target price on Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. JPMorgan Chase & Co. cut their price objective on Terex from $63.00 to $59.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Truist Financial cut their price objective on Terex from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Finally, Raymond James started coverage on Terex in a research report on Friday, June 28th. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.67.

Insiders Place Their Bets

In other Terex 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 transaction of $756,000.00. Following the sale, the vice president now directly owns 58,224 shares in the company, valued at $3,521,387.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Scott Posner sold 12,500 shares of the company’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 sale, the vice president now directly owns 58,224 shares in the company, valued at $3,521,387.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Stephen Johnston sold 3,239 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $62.00, for a total value of $200,818.00. Following the completion of the sale, the chief accounting officer now owns 14,606 shares in the company, valued at $905,572. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,929 shares of company stock worth $1,958,307. 1.90% of the stock is owned by corporate insiders.

Terex Price Performance

TEX stock traded up $2.68 on Tuesday, reaching $58.37. 278,347 shares of the company’s stock were exchanged, compared to its average volume of 763,096. The stock has a fifty day moving average of $56.90 and a 200-day moving average of $58.53. Terex Co. has a twelve month low of $43.70 and a twelve month high of $65.89. The firm has a market cap of $3.93 billion, a PE ratio of 7.56 and a beta of 1.57. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.42.

Terex (NYSE:TEX) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.23. Terex had a return on equity of 30.53% and a net margin of 9.87%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.23 billion. As a group, equities analysts predict that Terex Co. will post 7.09 EPS for the current fiscal year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were given a dividend of $0.17 per share. The ex-dividend date was Thursday, June 6th. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. Terex’s payout ratio is 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.