Los Angeles Capital Management LLC Sells 21,965 Shares of Terex Co. (NYSE:TEX)

Los Angeles Capital Management LLC trimmed its position in Terex Co. (NYSE:TEX) by 85.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,852 shares of the industrial products company’s stock after selling 21,965 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Terex were worth $204,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TEX. Blue Trust Inc. increased its stake in shares of Terex by 57.5% in the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 187 shares during the last quarter. GAMMA Investing LLC raised its stake in Terex by 83.3% during the third quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 335 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Terex by 74.6% in 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 in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Terex during the 2nd quarter valued at approximately $109,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Terex during the 2nd quarter valued at approximately $111,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TEX has been the topic of a number of research analyst reports. Evercore ISI cut their target price on shares of Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Truist Financial boosted their price objective on Terex from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. dropped their target price on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Citigroup reduced their price target on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. Finally, The Goldman Sachs Group dropped their price objective 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Terex currently has a consensus rating of “Hold” and a consensus price target of $59.56.

Terex Price Performance

Shares of TEX opened at $52.29 on Tuesday. The firm has a market cap of $3.49 billion, a PE ratio of 7.63, a price-to-earnings-growth ratio of 4.20 and a beta of 1.53. Terex Co. has a 52-week low of $48.11 and a 52-week high of $68.08. 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 business’s 50 day moving average price is $53.27 and its two-hundred day moving average price is $55.61.

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

Terex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, November 8th. Terex’s payout ratio is presently 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.