Terex Co. (NYSE:TEX) Shares Sold by Algert Global LLC

Algert Global LLC decreased its holdings in Terex Co. (NYSE:TEX) by 76.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,463 shares of the industrial products company’s stock after selling 31,530 shares during the quarter. Algert Global LLC’s holdings in Terex were worth $501,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TEX. Blue Trust Inc. raised its stake in shares of Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after buying an additional 187 shares during the period. GAMMA Investing LLC raised its position 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 during the period. Farther Finance Advisors LLC lifted its holdings in Terex by 74.6% during the third 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 purchased a new stake in shares of Terex during the second quarter worth about $109,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Terex during the 2nd quarter worth about $111,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Wall Street Analysts Forecast Growth

TEX has been the topic of several research analyst reports. The Goldman Sachs Group cut their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Robert W. Baird lowered their price target on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Truist Financial increased their price objective on Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. lowered their target price on shares of Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Finally, Citigroup dropped their target price on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $59.56.

Terex Stock Performance

Terex stock opened at $54.79 on Friday. The firm has a 50 day simple moving average of $53.50 and a 200-day simple moving average of $55.26. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 4.38 and a beta of 1.53. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. Terex Co. has a 1-year low of $48.11 and a 1-year high of $68.08.

Terex (NYSE:TEX) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share 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 company 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 business posted $1.75 earnings per share. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, analysts expect that Terex Co. will post 6.07 EPS for the current year.

Terex Dividend Announcement

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

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.