GSA Capital Partners LLP Takes $615,000 Position in Terex Co. (NYSE:TEX)

GSA Capital Partners LLP bought a new position in shares of Terex Co. (NYSE:TEX - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,616 shares of the industrial products company's stock, valued at approximately $615,000.

Several other hedge funds have also modified their holdings of the business. Greenwich Wealth Management LLC boosted its holdings in Terex by 0.3% during the third quarter. Greenwich Wealth Management LLC now owns 62,371 shares of the industrial products company's stock worth $3,300,000 after buying an additional 181 shares in the last quarter. Dorsey Wright & Associates boosted its stake in shares of Terex by 0.3% during the 2nd quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company's stock worth $3,362,000 after acquiring an additional 186 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company's stock worth $28,000 after acquiring an additional 187 shares in the last quarter. FCG Investment Co grew its holdings in shares of Terex by 3.5% in the 2nd quarter. FCG Investment Co now owns 6,534 shares of the industrial products company's stock worth $358,000 after acquiring an additional 220 shares during the period. Finally, US Bancorp DE increased its stake in Terex by 4.0% in the 3rd quarter. US Bancorp DE now owns 5,837 shares of the industrial products company's stock valued at $309,000 after purchasing an additional 227 shares in the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on TEX shares. Truist Financial upped their target price on Terex from $62.00 to $65.00 and gave the company 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 on the stock in a research note on Monday, August 19th. 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 report on Friday, September 20th. JPMorgan Chase & Co. reduced their price target on shares of Terex from $65.00 to $62.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. Finally, Citigroup dropped their price objective on shares of Terex from $60.00 to $57.00 and set a "neutral" rating for the company in a research note on Monday, September 23rd. One research analyst has rated the stock with a sell rating, seven have issued 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 a consensus target price of $59.56.

Terex Stock Performance

Shares of TEX opened at $52.29 on Tuesday. Terex Co. has a 1 year low of $48.11 and a 1 year high of $68.08. The company's 50 day simple moving average is $53.27 and its 200 day simple moving average is $55.61. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 7.63, a PEG ratio of 4.20 and a beta of 1.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39.

Terex (NYSE:TEX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.15. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. The business's revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.75 EPS. On average, sell-side analysts predict that Terex Co. will post 6.07 EPS for the current year.

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.30%. The ex-dividend date is Friday, November 8th. Terex's dividend payout ratio (DPR) is 9.93%.

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.