Quarry LP Purchases 23,129 Shares of Terex Co. (NYSE:TEX)

Quarry LP raised its stake in Terex Co. (NYSE:TEX - Free Report) by 13,447.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,301 shares of the industrial products company's stock after buying an additional 23,129 shares during the period. Quarry LP's holdings in Terex were worth $1,233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TEX. Blue Trust Inc. boosted its holdings 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 valued at $28,000 after acquiring an additional 187 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Terex by 83.3% during the third quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 335 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of Terex during the third quarter worth about $41,000. Farther Finance Advisors LLC increased its stake in shares of Terex by 74.6% in the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company's stock valued at $62,000 after buying an additional 504 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Terex in the 2nd quarter valued at approximately $109,000. Institutional investors own 92.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TEX. JPMorgan Chase & Co. decreased their price target on shares of Terex from $65.00 to $62.00 and set a "neutral" rating for the company in a research report on Monday, October 14th. Citigroup decreased their price target on Terex from $60.00 to $57.00 and set a "neutral" rating for the company in a research note on Monday, September 23rd. Evercore ISI cut their price objective on 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 decreased their target price on shares of Terex from $72.00 to $62.00 and set a "neutral" rating for the company in a research report on Friday, September 20th. Finally, Truist Financial boosted their price target on shares of Terex from $62.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Terex has a consensus rating of "Hold" and a consensus price target of $59.56.

Terex Stock Down 4.5 %

Shares of TEX stock traded down $2.52 on Thursday, reaching $53.12. 216,073 shares of the company were exchanged, compared to its average volume of 804,623. The company has a 50-day moving average of $53.67 and a 200-day moving average of $55.07. Terex Co. has a one year low of $48.11 and a one year 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 company has a market cap of $3.55 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 4.45 and a beta of 1.53.

Terex (NYSE:TEX - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.15. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. The business's quarterly revenue was down 6.0% compared to the same quarter last year. During the same period last year, the firm earned $1.75 earnings per share. Analysts anticipate that Terex Co. will post 6.07 earnings per share for the current year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Friday, November 8th. Terex's dividend payout ratio is currently 9.93%.

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.