Entropy Technologies LP Boosts Stake in Terex Co. (NYSE:TEX)

Entropy Technologies LP boosted its stake in shares of Terex Co. (NYSE:TEX) by 69.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 17,553 shares of the industrial products company’s stock after buying an additional 7,204 shares during the quarter. Entropy Technologies LP’s holdings in Terex were worth $929,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in shares of Terex by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock valued at $154,224,000 after buying an additional 109,885 shares in the last quarter. AQR Capital Management LLC raised its stake in Terex by 18.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock worth $99,045,000 after acquiring an additional 285,750 shares during the period. Greenhaven Associates Inc. lifted its holdings in Terex by 1.6% during the second quarter. Greenhaven Associates Inc. now owns 1,499,671 shares of the industrial products company’s stock valued at $82,242,000 after purchasing an additional 23,371 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Terex by 25.6% in the second quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock worth $72,538,000 after purchasing an additional 269,777 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Terex by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 790,118 shares of the industrial products company’s stock worth $43,330,000 after purchasing an additional 26,377 shares in the last quarter. Institutional investors own 92.88% of the company’s stock.

Wall Street Analyst Weigh In

TEX has been the topic of several research analyst reports. Robert W. Baird lowered their price objective on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. The Goldman Sachs Group cut their price objective on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. 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. 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 research report on Monday, September 23rd. Finally, Evercore ISI decreased their price target on shares of Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $59.56.

Terex Stock Down 3.1 %

Shares of NYSE:TEX opened at $51.58 on Thursday. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 4.30 and a beta of 1.53. Terex Co. has a 12 month low of $48.11 and a 12 month high of $68.08. 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 company has a 50-day moving average price of $53.15 and a 200 day moving average price of $55.72.

Terex (NYSE:TEX) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.15. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period last year, the company earned $1.75 EPS. As a group, equities research analysts predict that Terex Co. will post 6.07 earnings per share for the current year.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Friday, November 8th. Terex’s payout ratio is 9.93%.

Terex Company 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.