Terex Co. (NYSE:TEX) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC lifted its holdings in shares of Terex Co. (NYSE:TEX) by 18.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,837,563 shares of the industrial products company’s stock after acquiring an additional 285,750 shares during the period. AQR Capital Management LLC’s holdings in Terex were worth $99,045,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. AXA S.A. lifted its position in Terex by 1.7% during the second quarter. AXA S.A. now owns 75,182 shares of the industrial products company’s stock worth $4,123,000 after buying an additional 1,282 shares during the period. Squarepoint Ops LLC increased its stake in shares of Terex by 172.8% during the 2nd quarter. Squarepoint Ops LLC now owns 52,883 shares of the industrial products company’s stock valued at $2,900,000 after acquiring an additional 33,501 shares during the last quarter. Aristeia Capital L.L.C. purchased a new position in shares of Terex during the 2nd quarter worth about $578,000. Magnetar Financial LLC acquired a new stake in shares of Terex in the second quarter worth approximately $1,083,000. Finally, Intech Investment Management LLC purchased a new stake in Terex in the second quarter valued at approximately $262,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Terex Price Performance

Shares of NYSE TEX opened at $52.08 on Friday. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 6.90, a PEG ratio of 4.44 and a beta of 1.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.21 and a quick ratio of 1.07. Terex Co. has a 1-year low of $43.70 and a 1-year high of $68.08. The business has a 50-day moving average of $55.49 and a 200-day moving average of $57.67.

Terex (NYSE:TEX) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.10. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Terex had a return on equity of 27.89% and a net margin of 9.55%. Terex’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.35 EPS. On average, equities analysts anticipate that Terex Co. will post 5.88 EPS for the current fiscal year.

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 9th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.31%. The ex-dividend date was Friday, August 9th. Terex’s dividend payout ratio (DPR) is 9.01%.

Insiders Place Their Bets

In other Terex news, Director Andra Rush bought 2,205 shares of the stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $54.36 per share, for a total transaction of $119,863.80. Following the completion of the purchase, the director now directly owns 21,983 shares of the company’s stock, valued at $1,194,995.88. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Raymond James began coverage on Terex in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Truist Financial dropped their price target on Terex from $74.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, September 20th. The Goldman Sachs Group cut their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Finally, Evercore ISI decreased their target price on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.90.

About Terex

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.