Holocene Advisors LP Buys 48,902 Shares of Terex Co. (NYSE:TEX)

Holocene Advisors LP increased its position in shares of Terex Co. (NYSE:TEX - Free Report) by 451.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,731 shares of the industrial products company's stock after purchasing an additional 48,902 shares during the period. Holocene Advisors LP owned 0.09% of Terex worth $3,160,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Terex during the third quarter valued at about $286,000. Kestra Investment Management LLC bought a new stake in Terex during the 3rd quarter valued at approximately $332,000. Point72 Hong Kong Ltd purchased a new position in Terex in the 3rd quarter worth approximately $712,000. Edgestream Partners L.P. boosted its stake in Terex by 8.8% in the 3rd quarter. Edgestream Partners L.P. now owns 74,981 shares of the industrial products company's stock worth $3,967,000 after purchasing an additional 6,083 shares during the period. Finally, Verition Fund Management LLC grew its holdings in Terex by 3.9% during the 3rd quarter. Verition Fund Management LLC now owns 241,280 shares of the industrial products company's stock valued at $12,766,000 after buying an additional 8,979 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup dropped their target price on shares of Terex from $60.00 to $57.00 and set a "neutral" rating for the company in a research report on Monday, September 23rd. Truist Financial raised their price objective on Terex from $62.00 to $65.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Robert W. Baird reduced their target price on Terex from $65.00 to $55.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Evercore ISI dropped their price target on Terex from $67.00 to $59.00 and set an "outperform" rating for the company in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. decreased their price objective on Terex from $65.00 to $62.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. One 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $59.56.

Terex Trading Down 0.4 %

TEX stock traded down $0.21 during mid-day trading on Friday, reaching $52.94. 514,829 shares of the stock traded hands, compared to its average volume of 805,268. Terex Co. has a one year low of $48.11 and a one year high of $68.08. The stock has a market capitalization of $3.54 billion, a PE ratio of 7.65, a PEG ratio of 4.45 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. The business has a 50-day moving average price of $53.69 and a two-hundred day moving average price of $55.06.

Terex (NYSE:TEX - Get Free Report) last issued 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. The company 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 firm's revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.75 EPS. Equities research analysts expect that Terex Co. will post 6.07 EPS for the current year.

Terex Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, November 8th. Terex's dividend payout ratio is currently 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.