Tema Etfs LLC Takes $2.85 Million Position in Terex Co. (NYSE:TEX)

Tema Etfs LLC bought a new stake in Terex Co. (NYSE:TEX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 61,544 shares of the industrial products company’s stock, valued at approximately $2,845,000. Terex comprises approximately 1.2% of Tema Etfs LLC’s holdings, making the stock its 29th biggest holding.

Other hedge funds have also made changes to their positions in the company. Cascade Investment Advisors Inc. acquired a new stake in shares of Terex during the fourth quarter worth about $1,070,000. Norges Bank acquired a new position in shares of Terex in the 4th quarter valued at $35,001,000. KLP Kapitalforvaltning AS acquired a new position in shares of Terex in the 4th quarter valued at $610,000. Barclays PLC boosted its stake in Terex by 40.2% during the 3rd 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 during the period. Finally, J2 Capital Management Inc acquired a new stake in Terex during the 4th quarter worth $353,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

Insiders Place Their Bets

In other Terex news, Director Andra Rush acquired 1,325 shares of Terex stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the transaction, the director now owns 23,308 shares in the company, valued at approximately $861,463.68. This trade represents a 6.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joshua Gross sold 5,389 shares of the firm’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $40.75, for a total transaction of $219,601.75. Following the completion of the transaction, the insider now owns 38,755 shares of the company’s stock, valued at approximately $1,579,266.25. The trade was a 12.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on TEX. Citigroup reduced their target price on shares of Terex from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group dropped their target price on shares of Terex from $60.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. JPMorgan Chase & Co. raised their target price on shares of Terex from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, May 5th. UBS Group upgraded shares of Terex from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $34.00 to $48.00 in a report on Friday. Finally, Morgan Stanley decreased their target price on shares of Terex from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Terex has a consensus rating of “Hold” and a consensus price target of $49.10.

Terex Trading Up 2.4%

TEX opened at $48.02 on Friday. The firm has a market capitalization of $3.18 billion, a P/E ratio of 9.68, a P/E/G ratio of 4.53 and a beta of 1.52. The firm’s 50 day moving average is $38.13 and its 200-day moving average is $44.52. Terex Co. has a 52-week low of $31.53 and a 52-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.

Terex (NYSE:TEX) last issued its quarterly earnings results on Friday, May 2nd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.26. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.26 billion. Terex had a net margin of 6.54% and a return on equity of 21.99%. The business’s revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.60 earnings per share. Analysts expect that Terex Co. will post 4.83 EPS for the current fiscal year.

Terex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.42%. Terex’s dividend payout ratio (DPR) is 18.53%.

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.