Chartwell Investment Partners LLC Invests $559,000 in Terex Co. (NYSE:TEX)

Chartwell Investment Partners LLC bought a new stake in Terex Co. (NYSE:TEX) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,558 shares of the industrial products company’s stock, valued at approximately $559,000.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. grew its position 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 acquiring an additional 187 shares in the last quarter. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 335 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Terex by 74.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after buying an additional 504 shares during the period. International Assets Investment Management LLC acquired a new position in Terex in the 2nd quarter worth $109,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Terex in the 2nd quarter valued at about $111,000. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TEX shares. Truist Financial lifted their target price on Terex from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. cut their target price on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Citigroup reduced 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. The Goldman Sachs Group dropped their target price on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Finally, Evercore ISI reduced their price target on shares of Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $59.56.

Terex Stock Down 3.1 %

NYSE:TEX opened at $51.58 on Thursday. The firm has a market capitalization of $3.45 billion, a PE ratio of 7.53, a price-to-earnings-growth ratio of 4.30 and a beta of 1.53. The stock has a 50 day moving average of $53.15 and a 200-day moving average of $55.72. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. Terex Co. has a 52 week low of $48.11 and a 52 week high of $68.08.

Terex (NYSE:TEX) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) 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 company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company posted $1.75 earnings per share. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. Analysts predict that Terex Co. will post 6.07 EPS for the current year.

Terex Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.32%. Terex’s dividend payout ratio (DPR) is presently 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.