Quantbot Technologies LP Invests $481,000 in Terex Co. (TEX) Stock

Quantbot Technologies LP acquired a new position in Terex Co. (NYSE:TEX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,060 shares of the industrial products company’s stock, valued at approximately $481,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of TEX. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Terex by 15.6% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 56,390 shares of the industrial products company’s stock valued at $2,251,000 after buying an additional 7,590 shares in the last quarter. Alambic Investment Management L.P. purchased a new position in Terex during the 3rd quarter valued at approximately $229,000. Bank of New York Mellon Corp grew its holdings in Terex by 1.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,473,729 shares of the industrial products company’s stock valued at $58,817,000 after buying an additional 24,639 shares in the last quarter. AXA grew its holdings in Terex by 155.0% during the 3rd quarter. AXA now owns 98,700 shares of the industrial products company’s stock valued at $3,939,000 after buying an additional 60,000 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Terex during the 3rd quarter valued at approximately $425,000.

In related news, insider Kevin A. Barr sold 11,937 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $38.43, for a total transaction of $458,738.91. Following the completion of the sale, the insider now directly owns 101,980 shares of the company’s stock, valued at approximately $3,919,091.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Eric I. Cohen sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $39.01, for a total value of $390,100.00. Following the sale, the vice president now directly owns 182,905 shares of the company’s stock, valued at $7,135,124.05. The disclosure for this sale can be found here. In the last quarter, insiders bought 852 shares of company stock valued at $30,092. Company insiders own 3.50% of the company’s stock.

Shares of Terex stock opened at $28.35 on Friday. The company has a market capitalization of $2.18 billion, a PE ratio of 11.66, a P/E/G ratio of 0.31 and a beta of 1.61. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.22 and a quick ratio of 1.14. Terex Co. has a one year low of $27.97 and a one year high of $50.17.

Terex (NYSE:TEX) last announced its earnings results on Thursday, November 1st. The industrial products company reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.07). The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Terex had a return on equity of 18.86% and a net margin of 2.42%. Terex’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. As a group, research analysts forecast that Terex Co. will post 2.65 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Friday, November 9th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, November 8th. Terex’s dividend payout ratio (DPR) is 29.63%.

Several equities analysts have weighed in on the company. ValuEngine cut Terex from a “hold” rating to a “sell” rating in a report on Friday. Deutsche Bank restated a “sell” rating and set a $34.00 price target on shares of Terex in a report on Wednesday, September 5th. UBS Group set a $52.00 price target on Terex and gave the company a “buy” rating in a report on Wednesday, August 22nd. Robert W. Baird upgraded Terex from an “underperform” rating to a “neutral” rating and set a $38.00 price target for the company in a report on Monday, August 20th. Finally, BMO Capital Markets cut their price target on Terex to $35.00 and set a “market perform” rating for the company in a report on Monday, November 19th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Terex currently has an average rating of “Hold” and an average target price of $40.83.

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Terex Company Profile

Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.

Further Reading: What is a Swap?

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Institutional Ownership by Quarter for Terex (NYSE:TEX)

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