Semanteon Capital Management LP Acquires New Position in Terex Co. (NYSE:TEX)

Semanteon Capital Management LP acquired a new stake in Terex Co. (NYSE:TEX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 20,495 shares of the industrial products company’s stock, valued at approximately $1,178,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D raised its position in Terex by 21.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 51,239 shares of the industrial products company’s stock worth $2,944,000 after acquiring an additional 8,945 shares during the last quarter. Bailard Inc. raised its position in Terex by 138.9% during the fourth quarter. Bailard Inc. now owns 12,051 shares of the industrial products company’s stock worth $692,000 after acquiring an additional 7,006 shares during the last quarter. Watershed Asset Management L.L.C. acquired a new position in Terex during the fourth quarter worth about $312,000. California Public Employees Retirement System raised its position in Terex by 3.6% during the fourth quarter. California Public Employees Retirement System now owns 137,551 shares of the industrial products company’s stock worth $7,904,000 after acquiring an additional 4,737 shares during the last quarter. Finally, Greenwich Wealth Management LLC raised its position in Terex by 0.3% during the fourth quarter. Greenwich Wealth Management LLC now owns 61,670 shares of the industrial products company’s stock worth $3,544,000 after acquiring an additional 209 shares during the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Analyst Ratings Changes

TEX has been the subject of a number of research reports. Citigroup lifted their target price on shares of Terex from $54.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Truist Financial assumed coverage on shares of Terex in a research report on Thursday, March 14th. They issued a “buy” rating and a $73.00 price objective for the company. UBS Group lowered shares of Terex from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $61.00 to $62.00 in a research report on Tuesday, February 13th. The Goldman Sachs Group boosted 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. Finally, Bank of America reissued an “underperform” rating and issued a $57.00 price objective on shares of Terex in a research report on Friday, January 19th. One 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.08.

Terex Trading Down 1.3 %

Terex stock traded down $0.81 during trading on Thursday, reaching $59.83. The company had a trading volume of 1,956,587 shares, compared to its average volume of 729,012. Terex Co. has a 12-month low of $42.50 and a 12-month high of $65.89. The stock’s 50 day moving average price is $59.97 and its two-hundred day moving average price is $56.23. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 7.88, a PEG ratio of 0.61 and a beta of 1.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.95 and a current ratio of 2.01.

Terex (NYSE:TEX) last released 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. Terex had a net margin of 10.06% and a return on equity of 32.89%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the firm earned $1.34 earnings per share. Terex’s revenue was up .4% compared to the same quarter last year. As a group, equities analysts expect that Terex Co. will post 6.95 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Friday, March 8th were paid a dividend of $0.17 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.68 annualized dividend and a yield of 1.14%. Terex’s dividend payout ratio is currently 8.96%.

Insiders Place Their Bets

In other Terex news, CEO John L. Garrison, Jr. sold 59,094 shares of the business’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 completion of the sale, the chief executive officer now directly owns 380,834 shares in the company, valued at $22,876,698.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 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 in the company, valued at $22,876,698.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kieran Hegarty sold 18,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were 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 owns 198,619 shares of the company’s stock, valued at $11,281,559.20. The disclosure for this sale can be found here. Insiders sold a total of 132,039 shares of company stock worth $8,078,574 over the last ninety days. 1.90% of the stock is owned by company insiders.

Terex 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.