Squarepoint Ops LLC Buys 33,501 Shares of Terex Co. (NYSE:TEX)

Squarepoint Ops LLC lifted its stake in shares of Terex Co. (NYSE:TEX) by 172.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,883 shares of the industrial products company’s stock after purchasing an additional 33,501 shares during the quarter. Squarepoint Ops LLC’s holdings in Terex were worth $2,900,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in Terex by 57.5% in the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 187 shares during the last quarter. FinTrust Capital Advisors LLC increased its stake in Terex by 202.2% in the 1st quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 465 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in Terex in the 4th quarter worth about $61,000. International Assets Investment Management LLC bought a new position in Terex in the 2nd quarter worth about $109,000. Finally, 1620 Investment Advisors Inc. bought a new position in Terex in the 2nd quarter worth about $111,000. 92.88% of the stock is currently owned by institutional investors.

Insider Activity at Terex

In other Terex news, Director Andra Rush acquired 2,205 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the acquisition, the director now owns 21,983 shares in the company, valued at approximately $1,194,995.88. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Terex Trading Down 0.3 %

Shares of TEX stock opened at $51.58 on Thursday. The stock has a market capitalization of $3.47 billion, a PE ratio of 6.83, a P/E/G ratio of 4.39 and a beta of 1.53. Terex Co. has a 1-year low of $43.70 and a 1-year high of $68.08. The business has a 50-day moving average of $54.71 and a 200 day moving average of $57.50. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.21 and a quick ratio of 1.07.

Terex (NYSE:TEX) last issued 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. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Terex had a return on equity of 27.89% and a net margin of 9.55%. Terex’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.35 EPS. As a group, sell-side analysts anticipate that Terex Co. will post 5.88 earnings per share for the current year.

Terex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, August 9th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.32%. The ex-dividend date was Friday, August 9th. Terex’s dividend payout ratio is presently 9.01%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TEX. Jefferies Financial Group decreased their target price on Terex from $68.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. JPMorgan Chase & Co. increased their price objective on Terex from $59.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Raymond James initiated coverage on Terex in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Robert W. Baird increased their price objective on Terex from $58.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, The Goldman Sachs Group reduced their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Terex currently has an average rating of “Hold” and a consensus target price of $60.90.

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.