Empowered Funds LLC Grows Stock Position in Terex Co. (NYSE:TEX)

Empowered Funds LLC lifted its stake in Terex Co. (NYSE:TEX) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 199,594 shares of the industrial products company’s stock after buying an additional 23,429 shares during the quarter. Empowered Funds LLC owned approximately 0.30% of Terex worth $9,225,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in Terex by 83.3% in the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 335 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Terex in the 3rd quarter valued at $40,000. Truvestments Capital LLC purchased a new stake in Terex during the third quarter worth $41,000. Blue Trust Inc. grew its position in Terex by 89.3% during the third quarter. Blue Trust Inc. now owns 969 shares of the industrial products company’s stock valued at $53,000 after buying an additional 457 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Terex by 74.6% in the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock valued at $62,000 after buying an additional 504 shares in the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Truist Financial lowered their target price on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. lowered their price target on Terex from $59.00 to $52.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Citigroup cut their price objective on Terex from $57.00 to $48.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. StockNews.com lowered Terex from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Robert W. Baird cut their price target on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Terex has an average rating of “Hold” and a consensus target price of $56.63.

Terex Stock Down 4.0 %

NYSE TEX opened at $44.66 on Monday. The business has a fifty day moving average price of $47.69 and a 200 day moving average price of $51.95. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.16 and a current ratio of 2.16. The company has a market cap of $2.98 billion, a P/E ratio of 9.00, a P/E/G ratio of 4.53 and a beta of 1.54. Terex Co. has a one year low of $43.50 and a one year high of $68.08.

Terex (NYSE:TEX) last issued its earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the business earned $1.88 earnings per share. Research analysts anticipate that Terex Co. will post 5.03 EPS for the current fiscal year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Friday, March 7th. Terex’s dividend payout ratio is currently 13.71%.

Insider Activity

In other Terex news, CEO Simon Meester sold 9,877 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total value of $505,109.78. Following the completion of the sale, the chief executive officer now directly owns 127,858 shares in the company, valued at $6,538,658.12. This represents a 7.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Sachs bought 20,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $49.75 per share, with a total value of $995,000.00. Following the completion of the purchase, the director now directly owns 137,500 shares in the company, valued at approximately $6,840,625. The trade was a 17.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

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.