Watershed Asset Management L.L.C. Makes New $312,000 Investment in Terex Co. (NYSE:TEX)

Watershed Asset Management L.L.C. acquired a new stake in shares of Terex Co. (NYSE:TEX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,430 shares of the industrial products company’s stock, valued at approximately $312,000.

A number of other institutional investors also recently modified their holdings of TEX. Greenwich Wealth Management LLC lifted its position in Terex by 0.3% in the 4th quarter. Greenwich Wealth Management LLC now owns 61,670 shares of the industrial products company’s stock valued at $3,544,000 after acquiring an additional 209 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Terex by 1.1% during the third quarter. Arizona State Retirement System now owns 19,304 shares of the industrial products company’s stock valued at $1,112,000 after buying an additional 213 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings 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 buying an additional 244 shares in the last quarter. Kestra Advisory Services LLC raised its position in Terex by 3.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 7,736 shares of the industrial products company’s stock valued at $446,000 after buying an additional 254 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Terex by 2.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 12,273 shares of the industrial products company’s stock valued at $707,000 after acquiring an additional 286 shares in the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

Terex Stock Performance

Shares of NYSE TEX traded up $0.27 during midday trading on Tuesday, hitting $61.00. The company’s stock had a trading volume of 741,842 shares, compared to its average volume of 708,207. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 8.04, a P/E/G ratio of 0.60 and a beta of 1.64. The company has a current ratio of 2.01, a quick ratio of 0.95 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average price of $59.82 and a 200 day moving average price of $56.18. Terex Co. has a one year low of $42.50 and a one year high of $65.89.

Terex (NYSE:TEX) last issued its earnings results on Friday, February 9th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.41. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Terex had a net margin of 10.06% and a return on equity of 32.89%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.34 EPS. On average, research analysts forecast that Terex Co. will post 6.96 EPS for the current fiscal year.

Terex Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Thursday, March 7th. Terex’s payout ratio is presently 8.96%.

Insider Activity

In other Terex news, CEO John L. Garrison, Jr. sold 59,094 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $60.07, for a total value of $3,549,776.58. Following the completion of the transaction, the chief executive officer now directly owns 380,834 shares of the company’s stock, valued at approximately $22,876,698.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Joshua Gross sold 4,945 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $59.13, for a total transaction of $292,397.85. Following the completion of the transaction, the insider now owns 21,457 shares of the company’s stock, valued at $1,268,752.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John L. Garrison, Jr. sold 59,094 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 380,834 shares in the company, valued at $22,876,698.38. The disclosure for this sale can be found here. Insiders have sold a total of 132,039 shares of company stock worth $8,078,574 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. The Goldman Sachs Group upped 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. Bank of America reissued an “underperform” rating and set a $57.00 target price on shares of Terex in a research report on Friday, January 19th. Truist Financial initiated coverage on Terex in a report on Thursday, March 14th. They issued a “buy” rating and a $73.00 target price for the company. Evercore ISI dropped 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, JPMorgan Chase & Co. downgraded Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price objective for the company. in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $65.08.

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.