Clearbridge Investments LLC Purchases 6,119 Shares of Terex Co. (NYSE:TEX)

Clearbridge Investments LLC boosted its stake in Terex Co. (NYSE:TEX) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 342,245 shares of the industrial products company’s stock after purchasing an additional 6,119 shares during the period. Clearbridge Investments LLC’s holdings in Terex were worth $19,665,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TEX. Blue Trust Inc. lifted its stake in Terex by 179.0% in 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. acquired a new position in Terex in the 4th quarter valued at approximately $29,000. Quantbot Technologies LP acquired a new position in Terex in the 3rd quarter valued at approximately $32,000. Parkside Financial Bank & Trust increased its position in Terex by 25.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,200 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 244 shares during the period. Finally, Principal Securities Inc. acquired a new position in Terex in the 4th quarter valued at approximately $85,000. Institutional investors own 92.88% of the company’s stock.

Insider Buying and Selling

In related news, insider Kieran Hegarty sold 18,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the transaction, the insider now directly owns 198,619 shares of the company’s stock, valued at $11,281,559.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Terex news, insider Kieran Hegarty sold 18,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total value of $1,022,400.00. Following the transaction, the insider now directly owns 198,619 shares of the company’s stock, valued at $11,281,559.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joshua Gross sold 4,945 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $59.13, for a total transaction of $292,397.85. Following the completion of the transaction, the insider now directly owns 21,457 shares in the company, valued at $1,268,752.41. The disclosure for this sale can be found here. Insiders have sold a total of 152,468 shares of company stock valued at $9,280,882 over the last ninety days. 1.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TEX has been the subject of several recent research reports. JPMorgan Chase & Co. cut shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price target for the company. in a research report on Monday, March 18th. The Goldman Sachs Group upped their price target on shares of Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, February 13th. UBS Group upped 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. Evercore ISI decreased their price target on shares of Terex from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Tuesday, February 20th. Finally, Truist Financial initiated coverage on shares of Terex in a research report on Thursday, March 14th. They issued a “buy” rating and a $73.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $65.33.

Terex Trading Down 2.2 %

TEX opened at $60.53 on Friday. The stock has a market cap of $4.07 billion, a PE ratio of 8.02 and a beta of 1.66. Terex Co. has a twelve month low of $43.70 and a twelve month high of $65.89. The company has a fifty day moving average of $61.50 and a 200-day moving average of $57.69. 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 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. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.23 billion. Terex had a net margin of 9.87% and a return on equity of 30.53%. On average, sell-side analysts predict that Terex Co. will post 7.09 EPS for the current year.

Terex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.12%. Terex’s dividend payout ratio is presently 9.01%.

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.