NorthCrest Asset Manangement LLC Buys 700 Shares of Terex Co. (NYSE:TEX)

Posted by Defense World Staff on Jul 13th, 2023

NorthCrest Asset Manangement LLC grew its stake in Terex Co. (NYSE:TEX – Free Report) by 7.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,400 shares of the industrial products company’s stock after acquiring an additional 700 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Terex were worth $503,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Terex by 5.3% during the first quarter. BlackRock Inc. now owns 8,373,481 shares of the industrial products company’s stock worth $298,598,000 after buying an additional 417,925 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Terex by 0.9% during the first quarter. Vanguard Group Inc. now owns 7,767,160 shares of the industrial products company’s stock worth $276,978,000 after buying an additional 68,739 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Terex by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,007,281 shares of the industrial products company’s stock worth $128,472,000 after buying an additional 44,022 shares during the last quarter. State Street Corp raised its stake in shares of Terex by 4.2% during the first quarter. State Street Corp now owns 2,225,934 shares of the industrial products company’s stock worth $79,377,000 after buying an additional 90,371 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Terex by 21.6% during the second quarter. Goldman Sachs Group Inc. now owns 1,471,160 shares of the industrial products company’s stock worth $40,265,000 after buying an additional 261,712 shares during the last quarter. 91.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

TEX has been the subject of a number of recent research reports. Raymond James initiated coverage on shares of Terex in a research note on Thursday, July 6th. They set a “market perform” rating for the company. StockNews.com began coverage on shares of Terex in a report on Thursday, May 18th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Terex from $51.00 to $53.00 and gave the company a “hold” rating in a report on Wednesday, April 12th. Bank of America cut shares of Terex from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $66.00 to $54.00 in a report on Friday, March 17th. Finally, 58.com restated a “maintains” rating on shares of Terex in a report on Wednesday, May 3rd. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $55.45.

Insider Buying and Selling

In other Terex news, insider Simon Meester sold 6,000 shares of the company’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $50.44, for a total transaction of $302,640.00. Following the sale, the insider now directly owns 55,907 shares of the company’s stock, valued at $2,819,949.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Kieran Hegarty sold 27,000 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $55.84, for a total value of $1,507,680.00. Following the transaction, the insider now directly owns 186,659 shares of the company’s stock, valued at $10,423,038.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Simon Meester sold 6,000 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $50.44, for a total transaction of $302,640.00. Following the completion of the transaction, the insider now directly owns 55,907 shares in the company, valued at $2,819,949.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,966 shares of company stock worth $2,408,280. 2.40% of the stock is owned by insiders.

Terex Stock Performance

Shares of TEX opened at $62.93 on Thursday. Terex Co. has a 12 month low of $27.18 and a 12 month high of $63.90. The firm has a fifty day simple moving average of $53.36 and a 200 day simple moving average of $50.60. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 0.58 and a beta of 1.68. The company has a current ratio of 1.99, a quick ratio of 0.96 and a debt-to-equity ratio of 0.60.

Terex (NYSE:TEX – Get Free Report) last announced its earnings results on Monday, May 1st. The industrial products company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.04 by $0.56. Terex had a net margin of 7.76% and a return on equity of 31.41%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The firm’s revenue was up 23.3% on a year-over-year basis. Research analysts forecast that Terex Co. will post 5.94 EPS for the current fiscal year.

Terex Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Monday, August 14th will be issued a dividend of $0.17 per share. This is a boost from Terex’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, August 11th. This represents a $0.68 annualized dividend and a yield of 1.08%. Terex’s dividend payout ratio is presently 11.43%.

About Terex

(Free Report)

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Aerial Work Platforms (AWP) and Materials Processing (MP). The AWP segment designs, manufactures, services, and markets aerial work platform equipment, utility equipment, and telehandlers under the Terex and Genie brands.