Citigroup Inc. Acquires 27,896 Shares of Terex Co. (NYSE:TEX)

Citigroup Inc. increased its holdings in shares of Terex Co. (NYSE:TEX - Free Report) by 65.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 70,443 shares of the industrial products company's stock after buying an additional 27,896 shares during the quarter. Citigroup Inc. owned 0.11% of Terex worth $3,727,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. raised its holdings in shares of 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 acquiring an additional 187 shares during the period. GAMMA Investing LLC raised its stake in shares of Terex by 83.3% in the 3rd 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 during the period. Farther Finance Advisors LLC lifted its holdings 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 purchasing an additional 504 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Terex during the second quarter worth about $109,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Terex during the second quarter worth about $111,000. 92.88% of the stock is owned by institutional investors and hedge funds.

Terex Trading Down 4.5 %

Terex stock traded down $2.48 during trading hours on Thursday, hitting $53.16. The stock had a trading volume of 644,112 shares, compared to its average volume of 806,504. The business's 50 day simple moving average is $53.67 and its 200-day simple moving average is $55.07. Terex Co. has a one year low of $48.11 and a one year high of $68.08. 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 stock has a market cap of $3.55 billion, a price-to-earnings ratio of 7.77, a P/E/G ratio of 4.45 and a beta of 1.53.

Terex (NYSE:TEX - Get Free Report) last posted its 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 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 company's revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.75 EPS. On average, equities analysts predict that Terex Co. will post 6.07 EPS for the current fiscal year.

Terex Announces Dividend

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 paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Friday, November 8th. Terex's dividend payout ratio is currently 9.93%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TEX shares. 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 report on Monday, August 19th. Citigroup dropped 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. Robert W. Baird decreased their price target on Terex from $65.00 to $55.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. dropped their price objective on Terex from $65.00 to $62.00 and set a "neutral" rating on the stock in a research note on Monday, October 14th. Finally, 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 report on Friday, September 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price 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.