Lisanti Capital Growth LLC Cuts Stock Position in Terex Co. (NYSE:TEX)

Lisanti Capital Growth LLC trimmed its stake in shares of Terex Co. (NYSE:TEX) by 89.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 11,370 shares of the industrial products company’s stock after selling 91,705 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Terex were worth $653,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TEX. Blue Trust Inc. raised its stake in Terex by 179.0% in 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 during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Terex in the fourth quarter valued at about $29,000. Quantbot Technologies LP purchased a new position in shares of Terex in the third quarter worth about $32,000. Parkside Financial Bank & Trust boosted its position in Terex by 25.5% during the third quarter. Parkside Financial Bank & Trust now owns 1,200 shares of the industrial products company’s stock worth $69,000 after acquiring an additional 244 shares during the last quarter. Finally, Diversified Trust Co acquired a new position in Terex during the fourth quarter worth about $202,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

Insider Activity at Terex

In other news, CEO John L. Garrison, Jr. sold 59,094 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $60.07, for a total transaction of $3,549,776.58. Following the sale, the chief executive officer now owns 380,834 shares of the company’s stock, valued at $22,876,698.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO John L. Garrison, Jr. sold 50,000 shares of Terex stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $64.28, for a total value of $3,214,000.00. Following the completion of the transaction, the chief executive officer now owns 315,483 shares in the company, valued at $20,279,247.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John L. Garrison, Jr. sold 59,094 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $60.07, for a total transaction of $3,549,776.58. Following the completion of the sale, the chief executive officer now directly owns 380,834 shares in the company, valued at $22,876,698.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 149,229 shares of company stock worth $9,080,064. Corporate insiders own 1.90% of the company’s stock.

Terex Trading Up 1.3 %

Shares of TEX stock traded up $0.79 during trading hours on Tuesday, hitting $60.49. The company had a trading volume of 786,706 shares, compared to its average volume of 759,348. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.16 and a quick ratio of 1.06. The stock has a market capitalization of $4.07 billion, a PE ratio of 7.91 and a beta of 1.66. The company’s fifty day moving average is $60.45 and its 200 day moving average is $56.52. Terex Co. has a fifty-two week low of $43.70 and a fifty-two week high of $65.89.

Terex (NYSE:TEX) last released its quarterly earnings results on Friday, February 9th. The industrial products company reported $1.41 EPS for the quarter, hitting the consensus estimate of $1.41. The business had revenue of $1.22 billion during 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%. The company’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the business posted $1.34 earnings per share. Research analysts expect that Terex Co. will post 7.1 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Friday, March 8th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.68 annualized dividend and a dividend yield of 1.12%. Terex’s dividend payout ratio is presently 9.01%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Terex from $52.00 to $59.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 13th. Truist Financial began coverage on Terex in a research note on Thursday, March 14th. They set a “buy” rating and a $73.00 price objective on the stock. UBS Group cut Terex from a “buy” rating to a “neutral” rating and upped their target price for the company from $61.00 to $62.00 in a report on Tuesday, February 13th. Evercore ISI reduced their price target on Terex from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Tuesday, February 20th. Finally, Citigroup upped their price objective on shares of Terex from $54.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $65.17.

About Terex

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.