New York State Teachers Retirement System Sells 13,151 Shares of Terex Co. (NYSE:TEX)

New York State Teachers Retirement System lessened its holdings in shares of Terex Co. (NYSE:TEX) by 13.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,715 shares of the industrial products company’s stock after selling 13,151 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of Terex worth $4,376,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. raised its stake in Terex by 57.5% in the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 187 shares in the last quarter. GAMMA Investing LLC raised 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 valued at $39,000 after buying an additional 335 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Terex during the 2nd quarter valued at $109,000. 1620 Investment Advisors Inc. bought a new stake in shares of Terex during the 2nd quarter worth $111,000. Finally, AM Squared Ltd grew its position in Terex by 64.3% in the second quarter. AM Squared Ltd now owns 2,300 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Terex Price Performance

Shares of TEX stock opened at $58.63 on Thursday. 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 fifty-two week low of $46.94 and a fifty-two week high of $68.08. The firm has a market cap of $3.92 billion, a P/E ratio of 8.56, a P/E/G ratio of 4.19 and a beta of 1.53. The business’s 50 day moving average price is $53.13 and its 200-day moving average price is $55.90.

Terex (NYSE:TEX) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share 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 business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business posted $1.75 earnings per share. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities research analysts anticipate that Terex Co. will post 5.99 earnings per share 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 paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Friday, November 8th. Terex’s payout ratio is currently 9.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Truist Financial raised their price target on Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Monday. Robert W. Baird dropped 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. Citigroup reduced their price target on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. JPMorgan Chase & Co. decreased their price target 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. Finally, Evercore ISI cut their price objective 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. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $59.56.

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.