Terex Co. (NYSE:TEX) Stock Position Decreased by Amalgamated Bank

Amalgamated Bank lessened its holdings in shares of Terex Co. (NYSE:TEX) by 8.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,999 shares of the industrial products company’s stock after selling 2,668 shares during the period. Amalgamated Bank’s holdings in Terex were worth $1,587,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. grew its position in shares of Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after buying an additional 187 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Terex by 83.3% during the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock valued at $39,000 after buying an additional 335 shares during the last quarter. Farther Finance Advisors LLC grew its position in Terex by 74.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 504 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Terex in the second quarter valued at approximately $109,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Terex in the second quarter valued at approximately $111,000. Institutional investors own 92.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TEX shares. JPMorgan Chase & Co. dropped their price target on shares of Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Truist Financial raised their price target on shares of Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Robert W. Baird dropped their price target on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. The Goldman Sachs Group dropped their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Finally, Evercore ISI dropped their price target on shares of Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $59.56.

Terex Price Performance

NYSE TEX opened at $53.20 on Wednesday. The firm has a market capitalization of $3.55 billion, a PE ratio of 7.77, a P/E/G ratio of 4.50 and a beta of 1.53. Terex Co. has a 12 month low of $48.11 and a 12 month high of $68.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. The company’s 50 day simple moving average is $53.15 and its 200 day simple moving average is $55.75.

Terex (NYSE:TEX) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the firm posted $1.75 earnings per share. As a group, equities research analysts forecast that Terex Co. will post 6.07 EPS for the current fiscal year.

Terex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, November 8th. Terex’s payout ratio is 9.93%.

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.