Terex Co. (NYSE:TEX) Stock Holdings Boosted by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC boosted its position in Terex Co. (NYSE:TEX) by 4.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,575 shares of the industrial products company’s stock after purchasing an additional 233 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Terex were worth $295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Easterly Investment Partners LLC boosted its position in shares of Terex by 18.7% during the third quarter. Easterly Investment Partners LLC now owns 32,490 shares of the industrial products company’s stock worth $1,719,000 after buying an additional 5,123 shares during the period. Summit Global Investments boosted its position in Terex by 302.4% during the 3rd quarter. Summit Global Investments now owns 22,141 shares of the industrial products company’s stock worth $1,171,000 after acquiring an additional 16,639 shares during the period. Verity Asset Management Inc. grew its stake in shares of Terex by 42.1% in the third quarter. Verity Asset Management Inc. now owns 9,386 shares of the industrial products company’s stock worth $497,000 after purchasing an additional 2,779 shares in the last quarter. Olympiad Research LP acquired a new position in shares of Terex during the third quarter valued at $301,000. Finally, QRG Capital Management Inc. grew its position in Terex by 7.6% in the 3rd quarter. QRG Capital Management Inc. now owns 6,037 shares of the industrial products company’s stock valued at $319,000 after buying an additional 424 shares in the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

Terex Trading Down 4.3 %

Shares of TEX opened at $53.20 on Wednesday. The business’s 50-day moving average price is $53.15 and its 200 day moving average price is $55.75. 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 stock has a market capitalization of $3.55 billion, a P/E ratio of 7.77, a P/E/G ratio of 4.50 and a beta of 1.53. Terex Co. has a 1-year low of $48.11 and a 1-year high of $68.08.

Terex (NYSE:TEX) last released its 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. The company 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%. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.75 EPS. Analysts expect that Terex Co. will post 6.07 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. Shareholders of record on Friday, November 8th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Friday, November 8th. Terex’s dividend payout ratio (DPR) is presently 9.93%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TEX. Truist Financial upped their price target on shares of Terex from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Evercore ISI lowered 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. Robert W. Baird cut their price objective on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. lowered their target price on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, Citigroup dropped 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.