Easterly Investment Partners LLC Increases Stake in Terex Co. (NYSE:TEX)

Easterly Investment Partners LLC raised its holdings in Terex Co. (NYSE:TEX) by 18.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,490 shares of the industrial products company’s stock after buying an additional 5,123 shares during the period. Easterly Investment Partners LLC’s holdings in Terex were worth $1,719,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. HM Payson & Co. acquired a new position in Terex during the 1st quarter worth $24,429,000. Curated Wealth Partners LLC boosted its stake in shares of Terex by 200.0% in the 2nd quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock valued at $9,702,000 after buying an additional 353,844 shares during the period. AQR Capital Management LLC grew its position in shares of Terex by 18.4% during 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. increased its stake 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 worth $72,538,000 after buying an additional 269,777 shares during the period. Finally, Millennium Management LLC increased its stake 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 worth $14,526,000 after buying an additional 166,429 shares during the period. Institutional investors and hedge funds own 92.88% of the company’s stock.

Terex Stock Down 0.8 %

Shares of NYSE:TEX opened at $55.75 on Friday. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 8.14, a PEG ratio of 4.73 and a beta of 1.53. Terex Co. has a fifty-two week low of $47.30 and a fifty-two week high of $68.08. The firm’s 50-day simple moving average is $53.18 and its 200-day simple moving average is $55.89. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

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, topping analysts’ consensus estimates of $1.31 by $0.15. Terex had a return on equity of 24.92% and a net margin of 9.08%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business posted $1.75 EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, equities research analysts predict that Terex Co. will post 6.07 earnings per share for the current year.

Terex Announces Dividend

The business 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 $0.17 dividend. 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 1.22%. Terex’s dividend payout ratio is presently 9.93%.

Analyst Ratings Changes

TEX has been the subject of several analyst reports. Robert W. Baird lowered their price target on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Truist Financial increased their target price on Terex from $62.00 to $65.00 and gave the company a “buy” rating in a report on Monday, November 4th. Evercore ISI cut their price target on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Citigroup cut their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Monday, October 14th. One 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, the stock currently has a consensus rating of “Hold” and an average price target of $59.56.

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.