Algert Global LLC Lowers Stock Holdings in Terex Co. (NYSE:TEX)

Algert Global LLC lessened its position in Terex Co. (NYSE:TEX) by 76.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,463 shares of the industrial products company’s stock after selling 31,530 shares during the quarter. Algert Global LLC’s holdings in Terex were worth $501,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC increased its stake in Terex by 331.8% during the 3rd quarter. Cerity Partners LLC now owns 24,725 shares of the industrial products company’s stock worth $1,308,000 after buying an additional 18,999 shares during the period. Citigroup Inc. grew its stake in shares of Terex by 65.6% in the third quarter. Citigroup Inc. now owns 70,443 shares of the industrial products company’s stock worth $3,727,000 after acquiring an additional 27,896 shares in the last quarter. Integrated Investment Consultants LLC purchased a new stake in shares of Terex during the third quarter worth $971,000. Foundry Partners LLC acquired a new stake in shares of Terex in the third quarter valued at $3,881,000. Finally, Landscape Capital Management L.L.C. purchased a new position in Terex in the third quarter valued at $457,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

Terex Stock Performance

Shares of TEX stock opened at $54.79 on Friday. 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 quick ratio of 1.16 and a current ratio of 2.39. Terex Co. has a 1 year low of $48.11 and a 1 year high of $68.08. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 4.38 and a beta of 1.53.

Terex (NYSE:TEX) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (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 quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.75 EPS. Analysts predict that Terex Co. will post 6.07 earnings per share for the current year.

Terex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 annualized dividend and a yield of 1.24%. Terex’s dividend payout ratio (DPR) is 9.93%.

Analyst Upgrades and Downgrades

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