Cerity Partners LLC Increases Stock Position in Terex Co. (NYSE:TEX)

Cerity Partners LLC raised its position in Terex Co. (NYSE:TEX - Free Report) by 331.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 24,725 shares of the industrial products company's stock after purchasing an additional 18,999 shares during the period. Cerity Partners LLC's holdings in Terex were worth $1,308,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the business. Greenwich Wealth Management LLC boosted its holdings in Terex by 0.3% in the third quarter. Greenwich Wealth Management LLC now owns 62,371 shares of the industrial products company's stock worth $3,300,000 after acquiring an additional 181 shares in the last quarter. Dorsey Wright & Associates lifted its holdings in shares of Terex by 0.3% in 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. lifted its holdings in shares of Terex by 57.5% in the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 187 shares in the last quarter. FCG Investment Co lifted its holdings in shares of Terex by 3.5% in the second quarter. FCG Investment Co now owns 6,534 shares of the industrial products company's stock valued at $358,000 after purchasing an additional 220 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Terex by 4.0% in the third 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. Institutional investors and hedge funds own 92.88% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TEX. Robert W. Baird dropped 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. Truist Financial lifted their price target on Terex from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their price target on Terex from $65.00 to $62.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. Evercore ISI dropped their price target on Terex from $67.00 to $59.00 and set an "outperform" rating on the stock in a report on Monday, August 19th. Finally, The Goldman Sachs Group dropped their price target on Terex from $72.00 to $62.00 and set a "neutral" rating on the stock in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned 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 Price Performance

Shares of Terex stock traded up $0.47 on Wednesday, hitting $55.63. 603,033 shares of the company traded hands, compared to its average volume of 807,198. Terex Co. has a 12-month low of $48.11 and a 12-month high of $68.08. The firm's 50-day simple moving average is $53.60 and its 200 day simple moving average is $55.07. The company has a market cap of $3.72 billion, a P/E ratio of 8.07, a P/E/G ratio of 4.46 and a beta of 1.53. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32.

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

Terex Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, November 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.22%. Terex's payout ratio is presently 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.