AXQ Capital LP Acquires Shares of 5,993 Terex Co. (NYSE:TEX)

AXQ Capital LP acquired a new stake in shares of Terex Co. (NYSE:TEX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,993 shares of the industrial products company’s stock, valued at approximately $277,000.

Several other institutional investors and hedge funds have also bought and sold shares of TEX. Smartleaf Asset Management LLC lifted its position in shares of Terex by 46.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 222 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Terex by 26.8% during the fourth quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 260 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of Terex by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 83,035 shares of the industrial products company’s stock worth $3,838,000 after acquiring an additional 320 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Terex by 2.2% during the fourth quarter. New York State Common Retirement Fund now owns 22,130 shares of the industrial products company’s stock worth $1,023,000 after acquiring an additional 467 shares in the last quarter. Finally, Kendall Capital Management lifted its position in shares of Terex by 5.2% during the fourth quarter. Kendall Capital Management now owns 9,720 shares of the industrial products company’s stock worth $449,000 after acquiring an additional 480 shares in the last quarter. 92.88% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Andra Rush acquired 1,325 shares of Terex stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $36.96 per share, with a total value of $48,972.00. Following the completion of the purchase, the director now owns 23,308 shares of the company’s stock, valued at $861,463.68. This represents a 6.03 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TEX shares. JPMorgan Chase & Co. dropped their target price on Terex from $51.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 18th. Citigroup lowered their price objective on Terex from $48.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. StockNews.com downgraded Terex from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Truist Financial lowered their price objective on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group lowered their price objective on Terex from $60.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $54.22.

Terex Trading Up 0.1 %

NYSE TEX opened at $39.11 on Monday. The stock’s 50-day simple moving average is $44.09 and its two-hundred day simple moving average is $48.87. Terex Co. has a twelve month low of $36.15 and a twelve month high of $68.08. The company has a quick ratio of 1.09, a current ratio of 2.16 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 7.88, a PEG ratio of 4.53 and a beta of 1.56.

Terex (NYSE:TEX) last released its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. Terex had a return on equity of 21.99% and a net margin of 6.54%. During the same quarter in the prior year, the business earned $1.88 EPS. Research analysts forecast that Terex Co. will post 4.83 EPS for the current fiscal year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were given a dividend of $0.17 per share. The ex-dividend date was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.74%. Terex’s payout ratio is 13.71%.

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.