Invesco Ltd. Sells 427,361 Shares of Terex Co. (NYSE:TEX)

Invesco Ltd. lessened its position in shares of Terex Co. (NYSE:TEX) by 26.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,212,681 shares of the industrial products company’s stock after selling 427,361 shares during the period. Invesco Ltd.’s holdings in Terex were worth $56,050,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cascade Investment Advisors Inc. acquired a new stake in Terex in the 4th quarter valued at approximately $1,070,000. Norges Bank bought a new position in shares of Terex during the 4th quarter worth approximately $35,001,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Terex in the fourth quarter valued at approximately $610,000. Barclays PLC lifted its position in shares of Terex by 40.2% in the third quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock worth $6,838,000 after purchasing an additional 37,072 shares in the last quarter. Finally, J2 Capital Management Inc acquired a new position in Terex during the fourth quarter worth $353,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

Wall Street Analysts Forecast Growth

TEX has been the topic of several analyst reports. Citigroup cut their price target on shares of Terex from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Evercore ISI reduced their price target on Terex from $63.00 to $59.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their price target on Terex from $48.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday. Truist Financial decreased their target price on shares of Terex from $58.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Barclays lowered their target price on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $47.33.

Insider Activity at Terex

In related news, Director Andra Rush purchased 1,325 shares of Terex stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $36.96 per share, with a total value of $48,972.00. Following the completion of the transaction, the director now directly owns 23,308 shares of the company’s stock, valued at $861,463.68. This represents a 6.03 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Terex Price Performance

Shares of TEX opened at $35.38 on Tuesday. The company’s 50-day moving average is $40.19 and its 200-day moving average is $46.96. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09. The firm has a market capitalization of $2.34 billion, a PE ratio of 7.13, a PEG ratio of 4.53 and a beta of 1.40. Terex Co. has a fifty-two week low of $31.53 and a fifty-two week high of $68.08.

Terex (NYSE:TEX) last issued its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping 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 firm earned $1.88 earnings per share. Equities analysts forecast that Terex Co. will post 4.83 EPS for the current year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Friday, March 7th were given a $0.17 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.92%. Terex’s payout ratio is presently 13.71%.

Terex 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.