Truvestments Capital LLC Sells 6,075 Shares of Terex Co. (NYSE:TEX)

by · The Cerbat Gem

Truvestments Capital LLC lowered its stake in shares of Terex Co. (NYSE:TEX – Free Report) by 86.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 953 shares of the industrial products company’s stock after selling 6,075 shares during the period. Truvestments Capital LLC’s holdings in Terex were worth $61,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of Terex by 179.0% during the 4th quarter. Blue Trust Inc. now owns 466 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 299 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in shares of Terex during the 4th quarter valued at about $29,000. FinTrust Capital Advisors LLC lifted its holdings in shares of Terex by 202.2% during the 1st quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 465 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new position in shares of Terex during the 4th quarter valued at about $61,000. Finally, Principal Securities Inc. bought a new position in shares of Terex during the 4th quarter valued at about $85,000. Institutional investors own 92.88% of the company’s stock.

Analysts Set New Price Targets

TEX has been the topic of several research reports. UBS Group boosted their target price on Terex from $62.00 to $64.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. JPMorgan Chase & Co. boosted their target price on Terex from $59.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Citigroup initiated coverage on Terex in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 target price on the stock. Raymond James initiated coverage on Terex in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, Truist Financial cut their target price on Terex from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $64.33.

Get Our Latest Stock Report on TEX

Terex Stock Performance

Shares of TEX stock traded up $1.07 during trading on Friday, reaching $66.76. 1,437,480 shares of the company’s stock were exchanged, compared to its average volume of 1,220,481. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $4.49 billion, a PE ratio of 8.84 and a beta of 1.57. Terex Co. has a twelve month low of $43.70 and a twelve month high of $68.08. The firm’s fifty day moving average price is $56.99 and its 200-day moving average price is $58.82.

Terex (NYSE:TEX – Get Free Report) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.23. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.23 billion. Terex had a return on equity of 30.53% and a net margin of 9.87%. As a group, sell-side analysts anticipate that Terex Co. will post 7.09 EPS for the current year.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, June 6th. Terex’s payout ratio is 9.01%.

Insiders Place Their Bets

In other news, VP Scott Posner sold 12,500 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $60.48, for a total transaction of $756,000.00. Following the sale, the vice president now directly owns 58,224 shares of the company’s stock, valued at approximately $3,521,387.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Stephen Johnston sold 3,239 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total transaction of $200,818.00. Following the sale, the chief accounting officer now directly owns 14,606 shares of the company’s stock, valued at approximately $905,572. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Scott Posner sold 12,500 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $60.48, for a total value of $756,000.00. Following the completion of the sale, the vice president now directly owns 58,224 shares in the company, valued at $3,521,387.52. The disclosure for this sale can be found here. Insiders have sold 32,929 shares of company stock worth $1,958,307 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Terex Profile

(Free Report)

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.

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