Lisanti Capital Growth LLC Reduces Stock Holdings in Terex Co. (NYSE:TEX)

Lisanti Capital Growth LLC lowered its stake in Terex Co. (NYSE:TEX) by 89.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,370 shares of the industrial products company’s stock after selling 91,705 shares during the period. Lisanti Capital Growth LLC’s holdings in Terex were worth $653,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of Terex by 3.9% during the third quarter. FMR LLC now owns 2,691,767 shares of the industrial products company’s stock valued at $155,100,000 after purchasing an additional 102,193 shares in the last quarter. Greenhaven Associates Inc. boosted its holdings in shares of Terex by 101.5% during the 4th quarter. Greenhaven Associates Inc. now owns 1,456,700 shares of the industrial products company’s stock valued at $83,702,000 after buying an additional 733,690 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Terex by 9.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,137,753 shares of the industrial products company’s stock worth $65,557,000 after buying an additional 96,834 shares during the period. Victory Capital Management Inc. increased its stake in shares of Terex by 2.5% in the 4th quarter. Victory Capital Management Inc. now owns 803,906 shares of the industrial products company’s stock worth $46,192,000 after acquiring an additional 19,925 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in Terex during the 3rd quarter valued at about $36,672,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Terex news, CEO John L. Garrison, Jr. sold 59,094 shares of the firm’s 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 sale, the chief executive officer now owns 380,834 shares in the company, valued at approximately $22,876,698.38. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO John L. Garrison, Jr. sold 50,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $64.28, for a total value of $3,214,000.00. Following the transaction, the chief executive officer now directly owns 315,483 shares in the company, valued at $20,279,247.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John L. Garrison, Jr. sold 59,094 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $60.07, for a total value of $3,549,776.58. Following the sale, the chief executive officer now owns 380,834 shares of the company’s stock, valued at approximately $22,876,698.38. The disclosure for this sale can be found here. Insiders sold a total of 149,229 shares of company stock worth $9,080,064 over the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Terex Stock Performance

NYSE:TEX traded up $0.79 on Tuesday, hitting $60.49. The stock had a trading volume of 786,706 shares, compared to its average volume of 759,348. Terex Co. has a 52-week low of $43.70 and a 52-week high of $65.89. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 7.91 and a beta of 1.66. 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 business’s 50-day simple moving average is $60.45 and its two-hundred day simple moving average is $56.52.

Terex (NYSE:TEX) last announced its earnings results on Friday, February 9th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.41. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.23 billion. Terex had a net margin of 9.87% and a return on equity of 30.53%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.34 earnings per share. As a group, research analysts predict that Terex Co. will post 7.1 earnings per share for the current year.

Terex Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have weighed in on TEX. JPMorgan Chase & Co. downgraded shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 target price for the company. in a research note on Monday, March 18th. Truist Financial initiated coverage on Terex in a report on Thursday, March 14th. They set a “buy” rating and a $73.00 price target for the company. The Goldman Sachs Group increased their price objective on shares of Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, February 13th. Evercore ISI reduced their price objective on shares of Terex from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Tuesday, February 20th. Finally, UBS Group downgraded shares of Terex from a “buy” rating to a “neutral” rating and upped their target price for the stock from $61.00 to $62.00 in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $65.17.

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.