Farther Finance Advisors LLC Purchases 504 Shares of Terex Co. (NYSE:TEX)

Farther Finance Advisors LLC lifted its position in Terex Co. (NYSE:TEX) by 74.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,180 shares of the industrial products company’s stock after buying an additional 504 shares during the period. Farther Finance Advisors LLC’s holdings in Terex were worth $62,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Terex by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock worth $154,224,000 after purchasing an additional 109,885 shares during the period. AQR Capital Management LLC boosted its stake in Terex by 18.4% in 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 purchasing an additional 285,750 shares during the period. Greenhaven Associates Inc. boosted its stake in Terex by 1.6% in the 2nd quarter. Greenhaven Associates Inc. now owns 1,499,671 shares of the industrial products company’s stock worth $82,242,000 after purchasing an additional 23,371 shares during the period. American Century Companies Inc. boosted its stake in Terex by 25.6% in the 2nd quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock worth $72,538,000 after purchasing an additional 269,777 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Terex by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 790,118 shares of the industrial products company’s stock worth $43,330,000 after purchasing an additional 26,377 shares during the period. Institutional investors own 92.88% of the company’s stock.

Analysts Set New Price Targets

TEX has been the subject of a number of research analyst reports. Truist Financial upped their target price on shares of Terex from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Evercore ISI reduced their price objective 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. Citigroup reduced their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Robert W. Baird reduced their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group reduced their price objective on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. One 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $59.56.

Terex Stock Down 3.1 %

Shares of TEX stock opened at $51.58 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39. The firm’s 50-day moving average is $53.15 and its 200-day moving average is $55.72. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 4.30 and a beta of 1.53. Terex Co. has a 52-week low of $48.11 and a 52-week high of $68.08.

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

Terex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 annualized dividend and a yield of 1.32%. Terex’s dividend payout ratio is currently 9.93%.

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.