Terex Co. (NYSE:TEX) is Atlantic Investment Management Inc.’s 8th Largest Position

Atlantic Investment Management Inc. lessened its holdings in Terex Co. (NYSE:TEX) by 75.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 155,000 shares of the industrial products company’s stock after selling 470,038 shares during the quarter. Terex makes up about 3.5% of Atlantic Investment Management Inc.’s holdings, making the stock its 8th largest position. Atlantic Investment Management Inc.’s holdings in Terex were worth $7,164,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Jones Financial Companies Lllp purchased a new position in shares of Terex in the 4th quarter valued at about $31,000. Smartleaf Asset Management LLC increased its stake in Terex by 46.1% in 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 last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Terex during the third quarter worth approximately $40,000. VisionPoint Advisory Group LLC purchased a new stake in shares of Terex during the 4th quarter worth approximately $51,000. Finally, Blue Trust Inc. boosted its holdings in shares of Terex by 26.8% in 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 and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TEX shares. Truist Financial reduced their price target on shares of Terex from $58.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Barclays decreased their target price on Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Citigroup cut their price target on Terex from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. StockNews.com lowered shares of Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group cut their target price on shares of Terex from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Terex presently has a consensus rating of “Hold” and an average price target of $45.60.

Insiders Place Their Bets

In other news, Director Andra Rush purchased 1,325 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by company insiders.

Terex Stock Up 9.5 %

Shares of NYSE:TEX opened at $39.84 on Friday. Terex Co. has a fifty-two week low of $31.53 and a fifty-two week high of $68.08. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41. The firm’s 50-day simple moving average is $37.48 and its 200-day simple moving average is $45.33. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 4.53 and a beta of 1.40.

Terex (NYSE:TEX) last released its earnings results on Friday, May 2nd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.26. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Terex had a return on equity of 21.99% and a net margin of 6.54%. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 EPS. As a group, equities research analysts predict that Terex Co. will post 4.83 earnings per share for the current year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Friday, March 7th. Terex’s dividend payout ratio (DPR) is 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.