Algert Global LLC Decreases Stock Holdings in Terex Co. (NYSE:TEX)

Algert Global LLC lowered its stake in shares of Terex Co. (NYSE:TEX - Free Report) by 76.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,463 shares of the industrial products company's stock after selling 31,530 shares during the quarter. Algert Global LLC's holdings in Terex were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of TEX. Blue Trust Inc. increased its holdings in Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company's stock worth $28,000 after purchasing an additional 187 shares during the period. GAMMA Investing LLC increased 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 worth $39,000 after buying an additional 335 shares during the period. Farther Finance Advisors LLC raised its holdings in 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 acquiring an additional 504 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Terex in the second quarter worth approximately $109,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Terex during the 2nd quarter worth approximately $111,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Terex Stock Performance

Shares of NYSE:TEX traded up $0.52 during trading on Friday, reaching $54.79. The company had a trading volume of 333,683 shares, compared to its average volume of 609,551. 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 firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 4.42 and a beta of 1.53. The stock's fifty day moving average price is $53.50 and its 200 day moving average price is $55.20. Terex Co. has a fifty-two week low of $48.11 and a fifty-two week high of $68.08.

Terex (NYSE:TEX - Get Free Report) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.15. The business 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 business's quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.75 earnings per share. As a group, equities research analysts predict that Terex Co. will post 6.07 EPS for the current year.

Terex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 1.24%. The ex-dividend date is Friday, November 8th. Terex's dividend payout ratio (DPR) is 9.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of Terex from $60.00 to $57.00 and set a "neutral" rating on the stock in a report on Monday, September 23rd. The Goldman Sachs Group decreased their price target on Terex from $72.00 to $62.00 and set a "neutral" rating for the company in a report on Friday, September 20th. Evercore ISI dropped their price objective on Terex from $67.00 to $59.00 and set an "outperform" rating on the stock in a report on Monday, August 19th. JPMorgan Chase & Co. cut their price objective on shares of Terex from $65.00 to $62.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. Finally, Robert W. Baird dropped their price objective on Terex from $65.00 to $55.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. One 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. Based on data from MarketBeat.com, Terex has an average rating of "Hold" and a consensus price target of $59.56.

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.