Chartwell Investment Partners LLC Invests $559,000 in Terex Co. (NYSE:TEX)

Chartwell Investment Partners LLC acquired a new position in shares of Terex Co. (NYSE:TEX - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,558 shares of the industrial products company's stock, valued at approximately $559,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TEX. HM Payson & Co. bought a new position in Terex in the first quarter valued at approximately $24,429,000. Curated Wealth Partners LLC boosted its stake in Terex by 200.0% in the 2nd quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company's stock worth $9,702,000 after purchasing an additional 353,844 shares during the period. AQR Capital Management LLC boosted 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 during the period. American Century Companies Inc. grew its stake in shares of Terex by 25.6% during the 2nd quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company's stock worth $72,538,000 after acquiring an additional 269,777 shares in the last quarter. Finally, Millennium Management LLC grew its position in Terex by 169.0% in the second quarter. Millennium Management LLC now owns 264,885 shares of the industrial products company's stock valued at $14,526,000 after purchasing an additional 166,429 shares in the last quarter. 92.88% of the stock is owned by institutional investors.

Terex Stock Performance

Shares of Terex stock traded up $0.97 during trading on Thursday, reaching $52.57. The company's stock had a trading volume of 583,851 shares, compared to its average volume of 821,404. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The business's 50-day moving average price is $53.19 and its 200-day moving average price is $55.70. Terex Co. has a 52 week low of $48.11 and a 52 week high of $68.08. The firm has a market cap of $3.51 billion, a PE ratio of 7.67, a P/E/G ratio of 4.30 and a beta of 1.53.

Terex (NYSE:TEX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.15. The business had revenue of $1.21 billion during 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%. Terex's revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.75 EPS. Equities analysts forecast that Terex Co. will post 6.07 earnings per share for the current year.

Terex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.17 per share. 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 1.29%. Terex's payout ratio is presently 9.93%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TEX. JPMorgan Chase & Co. dropped their target price on Terex from $65.00 to $62.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. Truist Financial lifted their price target on Terex from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, November 4th. The Goldman Sachs Group cut their price objective on Terex from $72.00 to $62.00 and set a "neutral" rating for the company in a research report on Friday, September 20th. Citigroup decreased their target price on Terex from $60.00 to $57.00 and set a "neutral" rating on the stock in a report on Monday, September 23rd. Finally, Evercore ISI reduced their price objective on shares of Terex from $67.00 to $59.00 and set an "outperform" rating for the company in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus 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.