Bridgewater Associates LP Raises Holdings in Terex Co. (NYSE:TEX)

Bridgewater Associates LP boosted its holdings in shares of Terex Co. (NYSE:TEX - Free Report) by 176.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,009 shares of the industrial products company's stock after buying an additional 50,389 shares during the period. Bridgewater Associates LP owned approximately 0.12% of Terex worth $4,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. TCW Group Inc. acquired a new position in Terex during the 2nd quarter valued at about $566,000. DekaBank Deutsche Girozentrale grew its stake in Terex by 26.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 106,849 shares of the industrial products company's stock valued at $6,809,000 after purchasing an additional 22,291 shares during the last quarter. Chartwell Investment Partners LLC purchased a new stake in Terex during the 3rd quarter valued at about $559,000. Edgestream Partners L.P. grew its stake in Terex by 181.6% during the 2nd 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. Finally, GSA Capital Partners LLP purchased a new stake in Terex during the 3rd quarter valued at about $615,000. 92.88% of the stock is owned by institutional investors and hedge funds.

Terex Price Performance

Shares of NYSE:TEX traded up $0.52 during midday trading on Friday, hitting $54.79. The company had a trading volume of 333,683 shares, compared to its average volume of 809,162. Terex Co. has a twelve month low of $48.11 and a twelve month high of $68.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 4.38 and a beta of 1.53. The business's 50-day simple moving average is $53.50 and its 200-day simple moving average is $55.26.

Terex (NYSE:TEX - Get Free Report) last posted its quarterly 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. Terex had a return on equity of 24.92% and a net margin of 9.08%. The firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter last year, the firm earned $1.75 earnings per share. The business's revenue for the quarter was down 6.0% on a year-over-year basis. On average, 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. Investors 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 annualized dividend and a dividend yield of 1.24%. Terex's dividend payout ratio is presently 9.93%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Citigroup dropped their price target on Terex from $60.00 to $57.00 and set a "neutral" rating on the stock in a research note on Monday, September 23rd. Truist Financial boosted their price target on Terex from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, November 4th. The Goldman Sachs Group dropped their price target on Terex from $72.00 to $62.00 and set a "neutral" rating on the stock in a research note on Friday, September 20th. Evercore ISI lowered their target price on Terex from $67.00 to $59.00 and set an "outperform" rating on the stock in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. lowered their target price on Terex from $65.00 to $62.00 and set a "neutral" rating on the stock in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $59.56.

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.