10,534 Shares in Terex Co. (NYSE:TEX) Bought by Aristeia Capital L.L.C.

Aristeia Capital L.L.C. bought a new position in Terex Co. (NYSE:TEX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,534 shares of the industrial products company’s stock, valued at approximately $578,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Magnetar Financial LLC bought a new stake in Terex in the 2nd quarter valued at about $1,083,000. Intech Investment Management LLC acquired a new stake in shares of Terex in the second quarter valued at approximately $262,000. Leuthold Group LLC raised its holdings in shares of Terex by 9.5% during the second quarter. Leuthold Group LLC now owns 48,665 shares of the industrial products company’s stock valued at $2,669,000 after buying an additional 4,203 shares during the last quarter. Kendall Capital Management boosted its position in shares of Terex by 47.6% during the second quarter. Kendall Capital Management now owns 8,305 shares of the industrial products company’s stock worth $455,000 after buying an additional 2,680 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in Terex by 177.4% in the 2nd quarter. Hsbc Holdings PLC now owns 14,670 shares of the industrial products company’s stock worth $799,000 after buying an additional 9,382 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors.

Terex Trading Up 1.2 %

NYSE TEX opened at $52.48 on Tuesday. The firm’s 50 day moving average price is $55.89 and its two-hundred day moving average price is $57.79. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.07 and a current ratio of 2.21. Terex Co. has a twelve month low of $43.70 and a twelve month high of $68.08. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 6.95, a PEG ratio of 3.61 and a beta of 1.53.

Terex (NYSE:TEX) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, beating 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 company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the business posted $2.35 EPS. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts anticipate that Terex Co. will post 7.21 EPS for the current year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 9th were issued 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 was Friday, August 9th. Terex’s dividend payout ratio is currently 9.01%.

Analysts Set New Price Targets

Several brokerages have weighed in on TEX. Evercore ISI cut their target price on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. JPMorgan Chase & Co. boosted their target price on Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Truist Financial decreased their price target on Terex from $74.00 to $63.00 and set a “buy” rating for the company in a research note on Friday. Citigroup lowered their target price on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday. Finally, The Goldman Sachs Group cut their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $60.90.

Insider Transactions at Terex

In other news, Director Andra Rush acquired 2,205 shares of Terex stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $54.36 per share, with a total value of $119,863.80. Following the completion of the transaction, the director now owns 21,983 shares in the company, valued at $1,194,995.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.90% of the stock is currently owned by company insiders.

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.