Weiss Asset Management LP Takes Position in Terex Co. (NYSE:TEX)

Weiss Asset Management LP bought a new stake in Terex Co. (NYSE:TEX) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,544 shares of the industrial products company’s stock, valued at approximately $558,000.

Several other hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of Terex by 57.5% in the second 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 raised its stake in Terex by 83.3% in the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 335 shares during the period. Truvestments Capital LLC bought a new stake in Terex in the 3rd quarter valued at $41,000. Farther Finance Advisors LLC lifted its holdings in Terex by 74.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 504 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in Terex during the second quarter worth $109,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on TEX. Robert W. Baird dropped their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Truist Financial increased their price target on shares of Terex from $62.00 to $65.00 and gave the company a “buy” rating in a report on Monday, November 4th. Citigroup reduced their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. JPMorgan Chase & Co. decreased their target price on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Finally, The Goldman Sachs Group dropped their price target on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $59.56.

Terex Trading Down 0.8 %

Shares of NYSE:TEX opened at $52.54 on Tuesday. The business’s 50 day simple moving average is $53.69 and its 200 day simple moving average is $54.84. Terex Co. has a 1 year low of $48.11 and a 1 year 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 has a market capitalization of $3.51 billion, a P/E ratio of 7.67, a P/E/G ratio of 4.28 and a beta of 1.53.

Terex (NYSE:TEX) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. Terex had a return on equity of 24.92% and a net margin of 9.08%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the business earned $1.75 earnings per share. Terex’s revenue was down 6.0% on a year-over-year basis. On average, research analysts anticipate 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. Shareholders of record on Friday, November 8th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Friday, November 8th. Terex’s payout ratio is 9.93%.

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.