Quantinno Capital Management LP Raises Stock Holdings in Terex Co. (NYSE:TEX)

Quantinno Capital Management LP lifted its holdings in Terex Co. (NYSE:TEX) by 25.2% in the third quarter, HoldingsChannel reports. The firm owned 8,664 shares of the industrial products company’s stock after purchasing an additional 1,744 shares during the quarter. Quantinno Capital Management LP’s holdings in Terex were worth $458,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Quarry LP grew its stake in shares of Terex by 13,447.1% in the 3rd quarter. Quarry LP now owns 23,301 shares of the industrial products company’s stock worth $1,233,000 after buying an additional 23,129 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Terex in the 3rd quarter valued at about $316,000. Point72 Asset Management L.P. purchased a new position in Terex in the third quarter worth about $4,283,000. Holocene Advisors LP increased its stake in Terex by 451.6% during the third quarter. Holocene Advisors LP now owns 59,731 shares of the industrial products company’s stock worth $3,160,000 after acquiring an additional 48,902 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Terex during the third quarter valued at approximately $286,000. Institutional investors own 92.88% of the company’s stock.

Terex Stock Performance

Shares of NYSE:TEX opened at $49.55 on Friday. 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 firm has a market cap of $3.31 billion, a PE ratio of 7.23, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. The firm’s 50 day simple moving average is $53.61 and its 200-day simple moving average is $54.59. Terex Co. has a one year low of $48.11 and a one year high of $68.08.

Terex (NYSE:TEX) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company posted $1.75 EPS. Terex’s revenue was down 6.0% on a year-over-year basis. As a group, equities analysts predict that Terex Co. will post 6.07 EPS for the current year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.37%. The ex-dividend date is Friday, November 8th. Terex’s payout ratio is 9.93%.

Insider Buying and Selling at Terex

In related news, CEO Simon Meester sold 9,877 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total transaction of $505,109.78. Following the sale, the chief executive officer now owns 127,858 shares of the company’s stock, valued at $6,538,658.12. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Sachs bought 10,000 shares of Terex stock in a transaction on Wednesday, December 11th. The stock was purchased at an average price of $51.30 per share, with a total value of $513,000.00. Following the completion of the acquisition, the director now directly owns 107,500 shares of the company’s stock, valued at $5,514,750. This represents a 10.26 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

TEX has been the topic of several analyst reports. Robert W. Baird cut their target price on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Truist Financial increased their target price on shares of Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Citigroup dropped their price target on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. JPMorgan Chase & Co. reduced their price objective 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. Finally, Evercore ISI dropped their target price on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Terex presently has an average rating of “Hold” and a consensus price target 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.