Mackenzie Financial Corp Cuts Stock Position in Terex Co. (NYSE:TEX)

Mackenzie Financial Corp lessened its position in Terex Co. (NYSE:TEX) by 37.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,930 shares of the industrial products company’s stock after selling 2,985 shares during the quarter. Mackenzie Financial Corp’s holdings in Terex were worth $283,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TEX. Greenhaven Associates Inc. increased its holdings in Terex by 101.5% during the 4th quarter. Greenhaven Associates Inc. now owns 1,456,700 shares of the industrial products company’s stock worth $83,702,000 after purchasing an additional 733,690 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in Terex during the 3rd quarter worth about $36,672,000. American Century Companies Inc. increased its holdings in Terex by 94.6% during the 3rd quarter. American Century Companies Inc. now owns 542,048 shares of the industrial products company’s stock worth $31,233,000 after purchasing an additional 263,435 shares during the period. Lazard Asset Management LLC boosted its position in shares of Terex by 1,231.8% during the 3rd quarter. Lazard Asset Management LLC now owns 146,436 shares of the industrial products company’s stock worth $8,437,000 after acquiring an additional 135,441 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of Terex by 247.2% during the 3rd quarter. Panagora Asset Management Inc. now owns 179,498 shares of the industrial products company’s stock worth $10,343,000 after acquiring an additional 127,792 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Insider Transactions at Terex

In other news, insider Kieran Hegarty sold 18,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the completion of the transaction, the insider now directly owns 198,619 shares of the company’s stock, valued at approximately $11,281,559.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Joshua Gross sold 4,945 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $59.13, for a total value of $292,397.85. Following the completion of the transaction, the insider now directly owns 21,457 shares of the company’s stock, valued at approximately $1,268,752.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kieran Hegarty sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total value of $1,022,400.00. Following the completion of the transaction, the insider now directly owns 198,619 shares of the company’s stock, valued at $11,281,559.20. The disclosure for this sale can be found here. In the last three months, insiders sold 132,039 shares of company stock valued at $8,078,574. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TEX. Bank of America reaffirmed an “underperform” rating and set a $57.00 price objective on shares of Terex in a research report on Friday, January 19th. Truist Financial began coverage on Terex in a research report on Thursday, March 14th. They set a “buy” rating and a $73.00 price objective for the company. Evercore ISI lowered their price objective on Terex from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Tuesday, February 20th. Citigroup upped their price objective on Terex from $54.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Finally, The Goldman Sachs Group upped their target price on Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Terex presently has an average rating of “Hold” and an average target price of $65.08.

Terex Stock Down 0.5 %

TEX opened at $59.59 on Monday. The business has a 50 day moving average price of $60.06 and a two-hundred day moving average price of $56.29. The company has a quick ratio of 0.95, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. The company has a market cap of $4.01 billion, a PE ratio of 7.89, a P/E/G ratio of 0.59 and a beta of 1.64. Terex Co. has a 52 week low of $42.50 and a 52 week high of $65.89.

Terex (NYSE:TEX) last posted its quarterly earnings data on Friday, February 9th. The industrial products company reported $1.41 EPS for the quarter, meeting the consensus estimate of $1.41. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.23 billion. Terex had a return on equity of 31.52% and a net margin of 9.87%. The firm’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.34 EPS. As a group, research analysts anticipate that Terex Co. will post 7.05 EPS for the current year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Friday, March 8th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Thursday, March 7th. Terex’s dividend payout ratio (DPR) is 9.01%.

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.