Harbor Capital Advisors Inc. Grows Stake in Terex Co. (NYSE:TEX)

Harbor Capital Advisors Inc. lifted its stake in Terex Co. (NYSE:TEX) by 10.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,310 shares of the industrial products company’s stock after buying an additional 3,254 shares during the period. Harbor Capital Advisors Inc.’s holdings in Terex were worth $1,762,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TEX. BNP Paribas Financial Markets grew its holdings in Terex by 1.0% during the 1st quarter. BNP Paribas Financial Markets now owns 51,116 shares of the industrial products company’s stock valued at $3,292,000 after purchasing an additional 525 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of Terex in the first quarter worth about $239,000. Jennison Associates LLC boosted its holdings in Terex by 18.2% in the first quarter. Jennison Associates LLC now owns 26,911 shares of the industrial products company’s stock valued at $1,733,000 after purchasing an additional 4,141 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Terex during the 1st quarter valued at approximately $979,000. Finally, Texas Permanent School Fund Corp raised its position in shares of Terex by 0.9% in the 1st quarter. Texas Permanent School Fund Corp now owns 58,638 shares of the industrial products company’s stock valued at $3,776,000 after purchasing an additional 500 shares in the last quarter. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Terex Stock Up 2.1 %

Shares of Terex stock opened at $52.32 on Wednesday. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 7.52, a PEG ratio of 4.25 and a beta of 1.53. Terex Co. has a twelve month low of $46.94 and a twelve 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 business’s 50 day simple moving average is $53.19 and its 200-day simple moving average is $55.96.

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, topping the consensus estimate of $1.31 by $0.15. The firm had revenue of $1.21 billion for 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 firm’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 earnings per share. Equities research analysts forecast that Terex Co. will post 5.92 earnings per share for the current year.

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be paid a $0.17 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.30%. Terex’s payout ratio is currently 9.93%.

Wall Street Analyst Weigh In

TEX has been the subject of a number of recent analyst reports. Citigroup decreased their price target 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. Evercore ISI cut their target price 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. Robert W. Baird decreased their price target on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. The Goldman Sachs Group cut their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Finally, Truist Financial lifted their target price on Terex from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday. One 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $59.56.

About Terex

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.