Advisors Asset Management Inc. Buys 4,633 Shares of Terex Co. (NYSE:TEX)

Advisors Asset Management Inc. raised its stake in shares of Terex Co. (NYSE:TEX) by 8.8% in the third quarter, Holdings Channel reports. The institutional investor owned 57,056 shares of the industrial products company’s stock after buying an additional 4,633 shares during the quarter. Advisors Asset Management Inc.’s holdings in Terex were worth $3,019,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. HM Payson & Co. purchased a new position in shares of Terex in the 1st quarter worth about $24,429,000. Curated Wealth Partners LLC raised its holdings in Terex by 200.0% in the second quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock worth $9,702,000 after buying an additional 353,844 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Terex by 18.4% in the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock worth $99,045,000 after buying an additional 285,750 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Terex by 25.6% during the second quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock valued at $72,538,000 after buying an additional 269,777 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Terex by 169.0% during the second quarter. Millennium Management LLC now owns 264,885 shares of the industrial products company’s stock valued at $14,526,000 after acquiring an additional 166,429 shares in the last quarter. 92.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TEX. Citigroup lowered their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. The Goldman Sachs Group lowered their price target on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Evercore ISI reduced their price objective on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Robert W. Baird lowered their target price on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Terex presently has an average rating of “Hold” and an average target price of $59.56.

Terex Price Performance

TEX stock opened at $53.80 on Friday. 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 12 month low of $48.11 and a 12 month high of $68.08. The stock has a market cap of $3.59 billion, a PE ratio of 7.85, a P/E/G ratio of 4.27 and a beta of 1.53. The company has a 50-day moving average price of $53.43 and a 200 day moving average price of $55.44.

Terex (NYSE:TEX) last issued its earnings results 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 firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. The business’s revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.75 earnings per share. Equities research analysts anticipate that Terex Co. will post 6.07 earnings per share for the current year.

Terex Dividend Announcement

The firm also recently disclosed 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 1.26%. The ex-dividend date of this dividend is Friday, November 8th. 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.