Citigroup Initiates Coverage on Terex (NYSE:TEX)

Citigroup initiated coverage on shares of Terex (NYSE:TEX) in a report released on Wednesday morning, Marketbeat reports. The firm issued a neutral rating and a $60.00 price objective on the industrial products company’s stock.

A number of other analysts have also weighed in on TEX. JPMorgan Chase & Co. lowered shares of Terex from an overweight rating to a neutral rating and set a $63.00 price objective for the company. in a research note on Monday, March 18th. UBS Group increased their price target on shares of Terex from $62.00 to $64.00 and gave the company a neutral rating in a research report on Tuesday, May 21st. Finally, Truist Financial began coverage on shares of Terex in a research report on Thursday, March 14th. They set a buy rating and a $73.00 price target for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $65.08.

Terex Trading Up 3.1 %

TEX stock opened at $54.84 on Wednesday. The firm’s fifty day simple moving average is $58.05 and its two-hundred day simple moving average is $58.83. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 7.26 and a beta of 1.61. Terex has a twelve month low of $43.70 and a twelve month high of $65.89.

Terex (NYSE:TEX) last released 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 net margin of 9.87% and a return on equity of 30.53%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.23 billion. As a group, analysts anticipate that Terex will post 7.09 earnings per share for the current year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Thursday, June 6th. Terex’s payout ratio is currently 9.01%.

Insider Activity at Terex

In related news, CAO Stephen Johnston sold 3,239 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 14,606 shares in the company, valued at approximately $905,572. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Kieran Hegarty sold 17,190 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $58.26, for a total transaction of $1,001,489.40. Following the sale, the insider now owns 200,029 shares of the company’s stock, valued at approximately $11,653,689.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Stephen Johnston sold 3,239 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total transaction of $200,818.00. Following the sale, the chief accounting officer now directly owns 14,606 shares in the company, valued at approximately $905,572. The disclosure for this sale can be found here. Insiders sold 32,929 shares of company stock valued at $1,958,307 in the last three months. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Terex in the 4th quarter valued at $42,606,000. Greenhaven Associates Inc. lifted its holdings in Terex by 101.5% in the 4th quarter. Greenhaven Associates Inc. now owns 1,456,700 shares of the industrial products company’s stock valued at $83,702,000 after purchasing an additional 733,690 shares in the last quarter. HM Payson & Co. purchased a new position in Terex in the 1st quarter valued at $24,429,000. American Century Companies Inc. lifted its holdings in Terex by 94.6% in the 3rd quarter. American Century Companies Inc. now owns 542,048 shares of the industrial products company’s stock valued at $31,233,000 after purchasing an additional 263,435 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Terex by 356.0% in the 4th quarter. Allianz Asset Management GmbH now owns 207,155 shares of the industrial products company’s stock valued at $11,903,000 after purchasing an additional 161,729 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

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.