Terex Co. (NYSE:TEX) Holdings Reduced by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its holdings in shares of Terex Co. (NYSE:TEX) by 2.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 940,878 shares of the industrial products company’s stock after selling 26,236 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Terex were worth $49,782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in TEX. Integrated Investment Consultants LLC acquired a new position in shares of Terex during the third quarter valued at approximately $971,000. Foundry Partners LLC bought a new position in Terex during the 3rd quarter valued at $3,881,000. Landscape Capital Management L.L.C. bought a new position in Terex during the 3rd quarter valued at $457,000. Intech Investment Management LLC increased its position in shares of Terex by 487.9% during the 3rd quarter. Intech Investment Management LLC now owns 28,037 shares of the industrial products company’s stock valued at $1,483,000 after purchasing an additional 23,268 shares during the period. Finally, Moran Wealth Management LLC raised its stake in shares of Terex by 2.7% in the 3rd quarter. Moran Wealth Management LLC now owns 45,339 shares of the industrial products company’s stock worth $2,399,000 after buying an additional 1,209 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.

Terex Stock Up 1.0 %

NYSE:TEX opened at $54.79 on Friday. Terex Co. has a 1-year low of $48.11 and a 1-year high of $68.08. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 4.38 and a beta of 1.53. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The business’s fifty day moving average price is $53.50 and its 200 day moving average price is $55.26.

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 business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the firm earned $1.75 earnings per share. The firm’s revenue was down 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that Terex Co. will post 6.07 earnings per share for the current fiscal year.

Terex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.24%. Terex’s payout ratio is presently 9.93%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TEX shares. 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 report on Thursday, October 31st. Evercore ISI reduced their target price on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, August 19th. JPMorgan Chase & Co. decreased their price target on shares of Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Truist Financial increased their price objective on Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, The Goldman Sachs Group decreased their target price on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock 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 issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $59.56.

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.