Truvestments Capital LLC Cuts Holdings in Terex Co. (NYSE:TEX)

Truvestments Capital LLC trimmed its holdings in shares of Terex Co. (NYSE:TEX) by 86.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 953 shares of the industrial products company’s stock after selling 6,075 shares during the quarter. Truvestments Capital LLC’s holdings in Terex were worth $61,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake 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 last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in Terex during the 4th quarter valued at $29,000. FinTrust Capital Advisors LLC boosted its stake in Terex by 202.2% during the 1st quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 465 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of Terex in the 4th quarter worth $61,000. Finally, Principal Securities Inc. purchased a new position in shares of Terex in the 4th quarter worth $85,000. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Terex

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TEX shares. JPMorgan Chase & Co. raised their price target on Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Raymond James started coverage on Terex in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Truist Financial dropped their price target on Terex from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. UBS Group raised their target price on Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Finally, Jefferies Financial Group decreased their target price on Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $64.33.

Terex Price Performance

Shares of TEX stock traded up $1.07 during trading hours on Friday, hitting $66.76. The stock had a trading volume of 1,437,480 shares, compared to its average volume of 1,220,481. Terex Co. has a one year low of $43.70 and a one year high of $68.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.16 and a quick ratio of 1.06. The stock’s 50-day moving average price is $56.99 and its two-hundred day moving average price is $58.82. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 8.84 and a beta of 1.57.

Terex (NYSE:TEX) last issued its earnings results on Thursday, April 25th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.23 billion. Equities analysts forecast that Terex Co. will post 7.09 EPS for the current year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders 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 annualized dividend and a dividend yield of 1.02%. Terex’s dividend payout ratio (DPR) 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.