Clearbridge Investments LLC Grows Stock Position in Terex Co. (NYSE:TEX)

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

Other large investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new position in shares of Terex during the 4th quarter worth $31,000. Smartleaf Asset Management LLC grew its holdings in Terex by 46.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 222 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Terex in the third quarter worth about $40,000. VisionPoint Advisory Group LLC bought a new position in shares of Terex in the fourth quarter worth about $51,000. Finally, Blue Trust Inc. lifted its position in shares of Terex by 26.8% during the 4th quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company’s stock valued at $57,000 after buying an additional 260 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TEX has been the subject of several analyst reports. Barclays reduced their target price 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. StockNews.com cut shares of Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. lowered their target price on shares of Terex from $51.00 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. Truist Financial cut their price target on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group lowered their price objective on Terex from $60.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $54.22.

Terex Price Performance

Shares of Terex stock opened at $40.11 on Thursday. The firm has a market cap of $2.66 billion, a PE ratio of 8.09, a PEG ratio of 4.53 and a beta of 1.56. The stock has a 50 day moving average of $42.88 and a 200 day moving average of $48.27. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41. Terex Co. has a 12 month low of $36.15 and a 12 month high of $68.08.

Terex (NYSE:TEX) last posted its earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share 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 last year, the firm earned $1.88 earnings per share. On average, research analysts expect that Terex Co. will post 4.83 EPS for the current fiscal year.

Terex Announces Dividend

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

Insider Buying and Selling

In related news, Director Andra Rush purchased 1,325 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the transaction, the director now directly owns 23,308 shares in the company, valued at $861,463.68. This represents a 6.03 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.90% of the stock is currently owned by company insiders.

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.