Terex Co. (NYSE:TEX) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its holdings in shares of Terex Co. (NYSE:TEX) by 10.1% in the third quarter, Holdings Channel reports. The firm owned 35,207 shares of the industrial products company’s stock after acquiring an additional 3,223 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Terex were worth $1,863,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TEX. HM Payson & Co. acquired a new stake in shares of Terex in the first quarter worth $24,429,000. Curated Wealth Partners LLC increased its holdings in Terex by 200.0% in the 2nd 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 in the last quarter. AQR Capital Management LLC raised its position in Terex by 18.4% in the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock valued at $99,045,000 after purchasing an additional 285,750 shares during the period. 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 buying an additional 269,777 shares during the period. Finally, Millennium Management LLC grew its stake 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 valued at $14,526,000 after buying an additional 166,429 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Analysts Set New Price Targets

TEX has been the topic of several recent research reports. Evercore ISI reduced their price target on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. JPMorgan Chase & Co. cut their price objective on shares of Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Citigroup lowered their target price on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Robert W. Baird cut their price target on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Truist Financial raised their price objective on Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Terex presently has an average rating of “Hold” and a consensus price target of $59.56.

Terex Stock Performance

Shares of TEX opened at $52.29 on Tuesday. The stock has a market capitalization of $3.49 billion, a PE ratio of 7.63, a price-to-earnings-growth ratio of 4.20 and a beta of 1.53. The business’s fifty day moving average price is $53.27 and its 200 day moving average price is $55.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. Terex Co. has a 12-month low of $48.11 and a 12-month high of $68.08.

Terex (NYSE:TEX) last posted its quarterly earnings results 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. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. The company’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.75 EPS. Equities research analysts forecast that Terex Co. will post 6.07 EPS for the current year.

Terex Announces Dividend

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

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.