NEOS Investment Management LLC Buys 11,461 Shares of Terex Co. (NYSE:TEX)

NEOS Investment Management LLC lifted its position in Terex Co. (NYSE:TEX) by 22.9% during the 4th quarter, Holdings Channel reports. The firm owned 61,544 shares of the industrial products company’s stock after buying an additional 11,461 shares during the quarter. NEOS Investment Management LLC’s holdings in Terex were worth $2,845,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TEX. Smartleaf Asset Management LLC grew its stake in 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 buying an additional 222 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Terex by 26.8% in the 4th 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. Barnett & Company Inc. grew its position in Terex by 4.3% during the 4th quarter. Barnett & Company Inc. now owns 7,300 shares of the industrial products company’s stock worth $337,000 after acquiring an additional 300 shares during the last quarter. New York State Teachers Retirement System increased its holdings in Terex by 0.4% during the 4th quarter. New York State Teachers Retirement System now owns 83,035 shares of the industrial products company’s stock valued at $3,838,000 after purchasing an additional 320 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in Terex by 2.2% in the 4th quarter. New York State Common Retirement Fund now owns 22,130 shares of the industrial products company’s stock valued at $1,023,000 after purchasing an additional 467 shares during the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Insider Activity at Terex

In other news, Director Andra Rush bought 1,325 shares of the stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price 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 approximately $861,463.68. This trade represents a 6.03 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TEX has been the topic of several research analyst reports. The Goldman Sachs Group decreased their target price on Terex from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Citigroup lowered their price objective on shares of Terex from $48.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. JPMorgan Chase & Co. reduced their target price on shares of Terex from $51.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 18th. Evercore ISI decreased their price target on shares of Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, Barclays dropped their price objective on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Terex presently has an average rating of “Hold” and an average target price of $54.22.

Terex Price Performance

Shares of TEX stock opened at $38.47 on Friday. The firm’s 50 day moving average price is $43.45 and its two-hundred day moving average price is $48.54. The stock has a market cap of $2.55 billion, a PE ratio of 7.76, a PEG ratio of 4.53 and a beta of 1.56. Terex Co. has a 52-week low of $36.15 and a 52-week high of $68.08. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16.

Terex (NYSE:TEX) last announced its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, topping 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 previous year, the firm earned $1.88 earnings per share. As a group, analysts forecast that Terex Co. will post 4.83 EPS for the current year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.77%. Terex’s dividend payout ratio is 13.71%.

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.