Clearbridge Investments LLC Buys 63,854 Shares of Terex Co. (NYSE:TEX)

Clearbridge Investments LLC boosted its stake in Terex Co. (NYSE:TEX) by 20.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 369,055 shares of the industrial products company’s stock after purchasing an additional 63,854 shares during the period. Clearbridge Investments LLC owned about 0.55% of Terex worth $17,058,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TEX. Orion Portfolio Solutions LLC raised its holdings in Terex by 107.1% during the 4th quarter. Orion Portfolio Solutions LLC now owns 8,509 shares of the industrial products company’s stock valued at $393,000 after buying an additional 4,400 shares during the last quarter. Norges Bank bought a new position in shares of Terex during the fourth quarter valued at about $35,001,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of Terex during the fourth quarter worth about $784,000. NEOS Investment Management LLC grew its stake in shares of Terex by 22.9% in the fourth quarter. NEOS Investment Management LLC now owns 61,544 shares of the industrial products company’s stock worth $2,845,000 after purchasing an additional 11,461 shares during the last quarter. Finally, Florida Financial Advisors LLC purchased a new position in Terex during the 4th quarter valued at about $219,000. Institutional investors own 92.88% of the company’s stock.

Analysts Set New Price Targets

TEX has been the topic of a number of recent analyst reports. Truist Financial cut their price objective on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. StockNews.com downgraded shares of Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Citigroup dropped their target price on shares of Terex from $48.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. The Goldman Sachs Group reduced their price target on shares of Terex from $60.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Finally, Barclays lowered their price objective on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $54.22.

Insider Activity at Terex

In related news, Director Andra Rush bought 1,325 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the acquisition, the director now owns 23,308 shares of the company’s stock, valued at $861,463.68. This trade represents a 6.03 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.90% of the stock is currently owned by insiders.

Terex Trading Up 5.4 %

Terex stock opened at $40.11 on Thursday. Terex Co. has a 12 month low of $36.15 and a 12 month high of $68.08. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41. The business’s fifty day simple moving average is $42.88 and its two-hundred day simple moving average is $48.27. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 8.09, a price-to-earnings-growth ratio of 4.53 and a beta of 1.56.

Terex (NYSE:TEX) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same quarter in the prior year, the business posted $1.88 EPS. As a group, equities analysts predict that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, March 7th. Terex’s dividend payout ratio is currently 13.71%.

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.