Zimmer Partners LP Has $9.79 Million Holdings in Terex Co. (NYSE:TEX)

Zimmer Partners LP lifted its holdings in shares of Terex Co. (NYSE:TEX) by 15.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 185,000 shares of the industrial products company’s stock after acquiring an additional 25,000 shares during the period. Zimmer Partners LP’s holdings in Terex were worth $9,788,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TEX. Blue Trust Inc. grew its position in shares of Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after buying an additional 187 shares during the period. GAMMA Investing LLC grew its position in shares of Terex by 83.3% during the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after buying an additional 335 shares during the period. Truvestments Capital LLC acquired a new stake in shares of Terex during the 3rd quarter worth approximately $41,000. Farther Finance Advisors LLC grew its position in shares of Terex by 74.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after buying an additional 504 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Terex during the 2nd quarter worth approximately $109,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on TEX shares. 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 note on Monday, October 14th. Truist Financial lifted their price objective on shares of Terex from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Citigroup cut their price target on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. Robert W. Baird cut their price target on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Evercore ISI cut 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 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 stock. According to MarketBeat, Terex has an average rating of “Hold” and an average price target of $59.56.

Terex Price Performance

Shares of TEX opened at $52.94 on Friday. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 4.49 and a beta of 1.53. Terex Co. has a 1-year low of $48.11 and a 1-year high of $68.08. The company’s fifty day simple moving average is $53.70 and its 200 day simple moving average is $54.99. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32.

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

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be given a $0.17 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. Terex’s payout ratio is presently 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.