Point72 Asia Singapore Pte. Ltd. Acquires Shares of 5,408 Terex Co. (NYSE:TEX)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Terex Co. (NYSE:TEX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,408 shares of the industrial products company’s stock, valued at approximately $286,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TEX. Blue Trust Inc. grew its stake in shares of Terex by 57.5% in the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 187 shares during the last quarter. GAMMA Investing LLC grew its position in Terex by 83.3% in the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock valued at $39,000 after buying an additional 335 shares during the last quarter. Truvestments Capital LLC acquired a new position in Terex in the 3rd quarter valued at $41,000. Farther Finance Advisors LLC increased its stake in Terex by 74.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock valued at $62,000 after buying an additional 504 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in Terex during the 2nd quarter worth $109,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TEX. Evercore ISI dropped their price target on shares of Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Citigroup dropped their target price on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. Robert W. Baird reduced their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. The Goldman Sachs Group lowered their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Finally, Truist Financial increased their price objective on Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Terex presently has an average rating of “Hold” and a consensus price target of $59.56.

Terex Stock Down 0.1 %

Shares of Terex stock opened at $55.18 on Wednesday. The company has a fifty day moving average price of $53.56 and a 200 day moving average price of $55.11. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 8.06, a price-to-earnings-growth ratio of 4.46 and a beta of 1.53. Terex Co. has a twelve month low of $48.11 and a twelve month high of $68.08. 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 (NYSE:TEX) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.31 by $0.15. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. The company’s revenue was down 6.0% on a year-over-year basis. During the same period last year, the business posted $1.75 EPS. Equities research analysts forecast that Terex Co. will post 6.07 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.23%. The ex-dividend date is Friday, November 8th. Terex’s dividend payout ratio (DPR) is 9.93%.

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.