Hancock Whitney Corp Sells 1,005 Shares of Terex Co. (NYSE:TEX)

Hancock Whitney Corp decreased its position in Terex Co. (NYSE:TEX) by 0.4% during the 3rd quarter, Holdings Channel reports. The firm owned 233,520 shares of the industrial products company’s stock after selling 1,005 shares during the period. Hancock Whitney Corp’s holdings in Terex were worth $12,356,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in Terex by 57.5% in the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 187 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Terex by 83.3% during the third quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 335 shares during the period. Truvestments Capital LLC bought a new stake in shares of Terex in the third quarter worth about $41,000. Farther Finance Advisors LLC increased its holdings in Terex by 74.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 504 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Terex during the 2nd quarter valued at approximately $109,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TEX shares. The Goldman Sachs Group reduced their target price on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Citigroup reduced their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. JPMorgan Chase & Co. dropped their target price on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Robert W. Baird reduced their price target on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Evercore ISI decreased their price target on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Terex currently has an average rating of “Hold” and an average price target of $59.56.

Terex Price Performance

Shares of NYSE TEX opened at $53.80 on Monday. 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 has a 50 day simple moving average of $53.43 and a two-hundred day simple moving average of $55.41. Terex Co. has a fifty-two week low of $48.11 and a fifty-two week high of $68.08. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 7.85, a P/E/G ratio of 4.34 and a beta of 1.53.

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

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Friday, November 8th. Terex’s payout ratio is 9.93%.

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.