US Bancorp DE grew its stake in shares of Terex Co. (NYSE:TEX – Free Report) by 4.0% in the third quarter, HoldingsChannel reports. The fund owned 5,837 shares of the industrial products company’s stock after buying an additional 227 shares during the quarter. US Bancorp DE’s holdings in Terex were worth $309,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of TEX. Sei Investments Co. boosted its holdings in Terex by 1.8% in the 1st quarter. Sei Investments Co. now owns 65,717 shares of the industrial products company’s stock worth $4,232,000 after acquiring an additional 1,185 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Terex by 4.4% during the 1st quarter. QRG Capital Management Inc. now owns 5,566 shares of the industrial products company’s stock valued at $358,000 after buying an additional 234 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Terex by 11.5% during the first quarter. Russell Investments Group Ltd. now owns 316,692 shares of the industrial products company’s stock worth $20,395,000 after purchasing an additional 32,630 shares during the last quarter. ProShare Advisors LLC lifted its stake in Terex by 4.6% during the first quarter. ProShare Advisors LLC now owns 15,229 shares of the industrial products company’s stock worth $981,000 after purchasing an additional 673 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in Terex by 27.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 24,553 shares of the industrial products company’s stock worth $1,581,000 after buying an additional 5,359 shares during the period. Institutional investors and hedge funds own 92.88% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on TEX shares. The Goldman Sachs Group cut their target price on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. JPMorgan Chase & Co. dropped their price target on shares of Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Evercore ISI dropped their price target on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Citigroup lowered their target price on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. Finally, Robert W. Baird lowered 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Terex currently has an average rating of “Hold” and an average price target of $59.56.
Terex Stock Down 4.3 %
Shares of TEX stock opened at $53.20 on Wednesday. Terex Co. has a 12 month low of $48.11 and a 12 month high of $68.08. The firm has a market cap of $3.55 billion, a PE ratio of 7.77, a price-to-earnings-growth ratio of 4.50 and a beta of 1.53. The stock has a 50 day moving average of $53.15 and a 200-day moving average of $55.75. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.
Terex (NYSE:TEX – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. Terex’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 earnings per share. On average, equities analysts predict that Terex Co. will post 6.07 EPS for the current 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 issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, November 8th. 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.
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