Terex Co. (NYSE:TEX) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC lifted its holdings in Terex Co. (NYSE:TEX) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 241,280 shares of the industrial products company’s stock after purchasing an additional 8,979 shares during the period. Verition Fund Management LLC owned about 0.36% of Terex worth $12,766,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Curated Wealth Partners LLC lifted its holdings in shares of Terex by 200.0% during the second quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock valued at $9,702,000 after purchasing an additional 353,844 shares during the last quarter. AQR Capital Management LLC increased its stake in Terex by 18.4% in 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 purchasing an additional 285,750 shares in the last quarter. American Century Companies Inc. raised its holdings in Terex by 25.6% during the 2nd quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock worth $72,538,000 after buying an additional 269,777 shares during the period. Millennium Management LLC boosted its holdings in shares of Terex by 169.0% in the second quarter. Millennium Management LLC now owns 264,885 shares of the industrial products company’s stock worth $14,526,000 after buying an additional 166,429 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Terex by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock worth $154,224,000 after acquiring an additional 109,885 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors.

Terex Stock Performance

Shares of TEX stock opened at $54.79 on Friday. Terex Co. has a fifty-two week low of $48.11 and a fifty-two week high of $68.08. The stock’s 50-day moving average is $53.50 and its two-hundred day moving average is $55.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. The firm has a market cap of $3.66 billion, a P/E ratio of 8.00, a PEG ratio of 4.42 and a beta of 1.53.

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

Terex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Friday, November 8th. Terex’s payout ratio is presently 9.93%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TEX. The Goldman Sachs Group reduced their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Citigroup reduced their target price on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Robert W. Baird decreased their target price on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Truist Financial upped their price target on Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their price objective on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Terex has a consensus 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.