Semanteon Capital Management LP Makes New $1.15 Million Investment in Terex Co. (NYSE:TEX)

Semanteon Capital Management LP acquired a new position in Terex Co. (NYSE:TEX - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,738 shares of the industrial products company's stock, valued at approximately $1,150,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Dorsey Wright & Associates boosted its stake in shares of Terex by 0.3% during the second quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company's stock valued at $3,362,000 after purchasing an additional 186 shares in the last quarter. Blue Trust Inc. boosted its holdings in Terex by 57.5% during the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company's stock worth $28,000 after buying an additional 187 shares in the last quarter. FCG Investment Co boosted its stake in shares of Terex by 3.5% during 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 in the last quarter. QRG Capital Management Inc. grew its stake in Terex by 4.4% in the 1st quarter. QRG Capital Management Inc. now owns 5,566 shares of the industrial products company's stock valued at $358,000 after acquiring an additional 234 shares during the period. Finally, SummerHaven Investment Management LLC lifted its holdings in Terex by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 12,114 shares of the industrial products company's stock valued at $664,000 after purchasing an additional 258 shares in the last quarter. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TEX. JPMorgan Chase & Co. lowered their target price on shares of Terex from $65.00 to $62.00 and set a "neutral" rating on the stock in a research note on Monday, October 14th. Citigroup lowered their price objective 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. The Goldman Sachs Group cut their price objective on Terex from $72.00 to $62.00 and set a "neutral" rating on the stock in a research report on Friday, September 20th. Robert W. Baird lifted their price objective on shares of Terex from $63.00 to $65.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. Finally, Truist Financial cut their price target on shares of Terex from $63.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Terex currently has an average rating of "Hold" and a consensus target price of $60.33.

Terex Stock Performance

NYSE:TEX traded up $1.69 during mid-day trading on Monday, hitting $55.46. 858,485 shares of the company's stock traded hands, compared to its average volume of 818,404. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 7.61, a price-to-earnings-growth ratio of 4.47 and a beta of 1.53. The firm has a 50 day moving average of $53.45 and a two-hundred day moving average of $56.30. The company has a current ratio of 2.21, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36. Terex Co. has a 12 month low of $44.22 and a 12 month high of $68.08.

Terex (NYSE:TEX - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.10. Terex had a return on equity of 27.89% and a net margin of 9.55%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the company posted $2.35 earnings per share. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities analysts forecast that Terex Co. will post 5.89 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. Terex's payout ratio is 9.33%.

Insider Activity

In other Terex news, Director Andra Rush purchased 2,205 shares of the stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $54.36 per share, with a total value of $119,863.80. Following the completion of the transaction, the director now directly owns 21,983 shares in the company, valued at $1,194,995.88. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.90% of the company's stock.

Terex 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.