Cerity Partners LLC Boosts Stake in Terex Co. (NYSE:TEX)

Cerity Partners LLC raised its position in shares of Terex Co. (NYSE:TEX) by 331.8% in the third quarter, Holdings Channel.com reports. The fund owned 24,725 shares of the industrial products company’s stock after buying an additional 18,999 shares during the quarter. Cerity Partners LLC’s holdings in Terex were worth $1,308,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in Terex by 57.5% during 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 during the period. GAMMA Investing LLC grew its position in Terex by 83.3% during the third quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 335 shares during the period. Farther Finance Advisors LLC grew its position in Terex by 74.6% during the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 504 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Terex in the second quarter worth about $109,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Terex in the second quarter worth about $111,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TEX. Evercore ISI decreased their target price on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. JPMorgan Chase & Co. decreased their target price on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Robert W. Baird decreased 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. The Goldman Sachs Group decreased their target price on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Finally, Citigroup decreased their target price on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Terex presently has a consensus rating of “Hold” and an average price target of $59.56.

Terex Trading Down 0.1 %

NYSE:TEX opened at $55.18 on Wednesday. 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 one year low of $48.11 and a one year high of $68.08. The business’s 50-day simple moving average is $53.56 and its 200 day simple moving average is $55.11. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 8.06, a price-to-earnings-growth ratio of 4.46 and a beta of 1.53.

Terex (NYSE:TEX) last announced its quarterly earnings data 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 return on equity of 24.92% and a net margin of 9.08%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm posted $1.75 earnings per share. Terex’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, sell-side analysts predict that Terex Co. will post 6.07 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.23%. The ex-dividend date is Friday, November 8th. Terex’s payout ratio is currently 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.