nVerses Capital LLC Raises Holdings in Terex Co. (NYSE:TEX)

nVerses Capital LLC boosted its stake in shares of Terex Co. (NYSE:TEX) by 15.8% in the 3rd quarter, Holdings Channel reports. The fund owned 4,400 shares of the industrial products company’s stock after buying an additional 600 shares during the period. nVerses Capital LLC’s holdings in Terex were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of TEX. HM Payson & Co. acquired a new position in shares of Terex in the 1st quarter valued at $24,429,000. Curated Wealth Partners LLC raised its position in shares of Terex by 200.0% in the second quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock worth $9,702,000 after acquiring an additional 353,844 shares during the period. AQR Capital Management LLC boosted its stake in shares of Terex by 18.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock worth $99,045,000 after acquiring an additional 285,750 shares in the last quarter. American Century Companies Inc. grew its position in shares of Terex by 25.6% during the 2nd quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock valued at $72,538,000 after acquiring an additional 269,777 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Terex by 169.0% in the 2nd quarter. Millennium Management LLC now owns 264,885 shares of the industrial products company’s stock valued at $14,526,000 after purchasing an additional 166,429 shares in the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TEX shares. Robert W. Baird increased their price target on Terex from $63.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Raymond James initiated coverage on shares of Terex in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. 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. Jefferies Financial Group decreased their price objective 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. Finally, Evercore ISI cut their target price on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Terex currently has a consensus rating of “Hold” and a consensus target price of $60.33.

Terex Stock Performance

NYSE:TEX opened at $56.14 on Friday. Terex Co. has a twelve month low of $43.70 and a twelve month high of $68.08. The company has a market cap of $3.78 billion, a P/E ratio of 7.44, a P/E/G ratio of 4.59 and a beta of 1.53. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $53.44 and its 200-day moving average price is $56.86.

Terex (NYSE:TEX) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.10. Terex had a return on equity of 27.89% and a net margin of 9.55%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm posted $2.35 EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, sell-side analysts forecast that Terex Co. will post 5.91 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.21%. Terex’s dividend payout ratio is presently 9.01%.

Insider Activity

In other news, Director Andra Rush acquired 2,205 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $54.36 per share, for a total transaction of $119,863.80. Following the completion of the transaction, the director now owns 21,983 shares in the company, valued at approximately $1,194,995.88. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.90% of the company’s stock.

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.