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Point72 Asset Management L.P. Invests $4.28 Million in Terex Co. (NYSE:TEX)

Terex logo with Industrial Products background

Point72 Asset Management L.P. acquired a new stake in shares of Terex Co. (NYSE:TEX - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 80,947 shares of the industrial products company's stock, valued at approximately $4,283,000. Point72 Asset Management L.P. owned approximately 0.12% of Terex at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. TCW Group Inc. bought a new stake in Terex during the second quarter valued at approximately $566,000. Chartwell Investment Partners LLC bought a new stake in Terex during the third quarter valued at approximately $559,000. Edgestream Partners L.P. lifted its position in Terex by 181.6% during the second quarter. Edgestream Partners L.P. now owns 68,898 shares of the industrial products company's stock valued at $3,778,000 after purchasing an additional 44,432 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Terex during the third quarter valued at approximately $615,000. Finally, AQR Capital Management LLC lifted its position in 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 valued at $99,045,000 after purchasing an additional 285,750 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company's stock.

Terex Trading Down 0.3 %

NYSE:TEX traded down $0.18 during midday trading on Monday, reaching $52.76. 366,203 shares of the stock traded hands, compared to its average volume of 803,294. The company has a fifty day moving average of $53.70 and a 200 day moving average of $54.89. Terex Co. has a 12 month low of $48.11 and a 12 month high of $68.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39. The stock has a market capitalization of $3.52 billion, a P/E ratio of 7.73, a PEG ratio of 4.28 and a beta of 1.53.

Terex (NYSE:TEX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 9.08% and a return on equity of 24.92%. The company's quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.75 EPS. On average, research analysts predict that Terex Co. will post 6.07 EPS for the current year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Friday, November 8th. Terex's payout ratio is currently 9.93%.

Analyst Upgrades and Downgrades

TEX has been the subject of several research analyst reports. The Goldman Sachs Group dropped their target price on shares of Terex from $72.00 to $62.00 and set a "neutral" rating for the company in a research report on Friday, September 20th. Truist Financial boosted their price objective on shares of Terex from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Evercore ISI lowered their price objective on shares of Terex from $67.00 to $59.00 and set an "outperform" rating for the company in a report on Monday, August 19th. JPMorgan Chase & Co. lowered their price objective 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. Finally, Robert W. Baird lowered their price objective 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $59.56.

View Our Latest Research Report on Terex

About Terex

(Free Report)

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.

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Institutional Ownership by Quarter for Terex (NYSE:TEX)

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