Jacobs Levy Equity Management Inc. Lowers Stock Holdings in Terex Co. (NYSE:TEX)

Jacobs Levy Equity Management Inc. cut its position in Terex Co. (NYSE:TEX - Free Report) by 71.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,963 shares of the industrial products company's stock after selling 129,431 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.08% of Terex worth $2,696,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in Terex by 18.4% in the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company's stock valued at $99,045,000 after purchasing an additional 285,750 shares during the period. American Century Companies Inc. increased its position in Terex by 25.6% in the 2nd quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company's stock valued at $72,538,000 after acquiring an additional 269,777 shares during the period. Millennium Management LLC raised its stake in Terex by 169.0% during the 2nd quarter. Millennium Management LLC now owns 264,885 shares of the industrial products company's stock valued at $14,526,000 after acquiring an additional 166,429 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Terex by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company's stock valued at $154,224,000 after acquiring an additional 109,885 shares during the last quarter. Finally, Foundry Partners LLC purchased a new position in shares of Terex in the 3rd quarter valued at approximately $3,881,000. Hedge funds and other institutional investors own 92.88% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their target price on Terex from $65.00 to $62.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. Truist Financial upped their price objective 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. Evercore ISI dropped their price target on shares of 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 reduced their price objective 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, Citigroup lowered their price objective on Terex from $60.00 to $57.00 and set a "neutral" rating on the stock in a report on Monday, September 23rd. One investment 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 MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $59.56.

Terex Price Performance

TEX traded down $0.21 during trading on Friday, reaching $52.94. 514,873 shares of the stock were exchanged, compared to its average volume of 574,873. 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 capitalization of $3.54 billion, a price-to-earnings ratio of 7.73, a P/E/G ratio of 4.49 and a beta of 1.53. Terex Co. has a 1 year low of $48.11 and a 1 year high of $68.08. The business's 50 day moving average price is $53.70 and its two-hundred day moving average price is $54.89.

Terex (NYSE:TEX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 EPS 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 analysts' expectations of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. The firm's revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.75 EPS. As a group, equities research 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. Investors of record on Friday, November 8th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. Terex's dividend payout ratio is currently 9.93%.

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.