Profit Investment Management LLC Buys 3,388 Shares of Terex Co. (NYSE:TEX)

Profit Investment Management LLC lifted its holdings in Terex Co. (NYSE:TEX) by 7.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 48,514 shares of the industrial products company’s stock after acquiring an additional 3,388 shares during the quarter. Terex makes up about 1.8% of Profit Investment Management LLC’s holdings, making the stock its 24th largest holding. Profit Investment Management LLC’s holdings in Terex were worth $2,242,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Chartwell Investment Partners LLC purchased a new stake in Terex during the third quarter valued at approximately $559,000. GSA Capital Partners LLP acquired a new stake in shares of Terex in the third quarter worth $615,000. Barclays PLC grew its position in Terex by 40.2% during the third quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock valued at $6,838,000 after buying an additional 37,072 shares during the period. AQR Capital Management LLC grew its position in Terex by 18.4% during the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock valued at $99,045,000 after buying an additional 285,750 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Terex during the third quarter valued at $4,283,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Insider Activity

In other news, Director David A. Sachs bought 10,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was bought at an average cost of $51.30 per share, for a total transaction of $513,000.00. Following the completion of the acquisition, the director now directly owns 107,500 shares in the company, valued at $5,514,750. This represents a 10.26 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Simon Meester sold 9,877 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total transaction of $505,109.78. Following the sale, the chief executive officer now owns 127,858 shares of the company’s stock, valued at approximately $6,538,658.12. This represents a 7.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TEX shares. The Goldman Sachs Group cut their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Citigroup lowered their price objective on shares of Terex from $57.00 to $48.00 and set a “neutral” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Terex from $59.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday. Truist Financial decreased their price objective on shares of Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Robert W. Baird cut their price target on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $56.67.

Terex Price Performance

Terex stock opened at $47.58 on Friday. The firm has a market capitalization of $3.18 billion, a P/E ratio of 6.95, a PEG ratio of 4.01 and a beta of 1.55. The firm has a fifty day moving average of $49.76 and a 200-day moving average of $53.02. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. Terex Co. has a 52-week low of $43.50 and a 52-week high of $68.08.

Terex (NYSE:TEX) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. Terex had a net margin of 9.08% and a return on equity of 24.92%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm posted $1.75 EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, analysts predict that Terex Co. will post 6.07 EPS for the current year.

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.