Weiss Asset Management LP Buys New Shares in Terex Co. (NYSE:TEX)

Weiss Asset Management LP bought a new stake in shares of Terex Co. (NYSE:TEX - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,544 shares of the industrial products company's stock, valued at approximately $558,000.

Several other institutional investors and hedge funds have also modified their holdings of TEX. Greenwich Wealth Management LLC grew its holdings in Terex by 0.3% during the 3rd quarter. Greenwich Wealth Management LLC now owns 62,371 shares of the industrial products company's stock valued at $3,300,000 after buying an additional 181 shares in the last quarter. Dorsey Wright & Associates grew its stake in Terex by 0.3% during the second quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company's stock valued at $3,362,000 after acquiring an additional 186 shares in the last quarter. Blue Trust Inc. increased its holdings in Terex by 57.5% in 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 during the last quarter. US Bancorp DE increased 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 worth $309,000 after purchasing an additional 227 shares during the last quarter. Finally, Lingohr Asset Management GmbH raised its holdings in shares of Terex by 2.0% during the 3rd quarter. Lingohr Asset Management GmbH now owns 11,516 shares of the industrial products company's stock worth $607,000 after acquiring an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company's stock.

Terex Stock Down 3.7 %

Shares of TEX stock traded down $1.92 during mid-day trading on Tuesday, hitting $50.62. The stock had a trading volume of 730,150 shares, compared to its average volume of 804,145. Terex Co. has a 12-month low of $48.11 and a 12-month 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 firm's 50-day moving average is $53.69 and its two-hundred day moving average is $54.84. The firm has a market capitalization of $3.38 billion, a P/E ratio of 7.67, a price-to-earnings-growth ratio of 4.28 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 EPS for the quarter, beating 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 business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted $1.75 EPS. The company's revenue for the quarter was down 6.0% on a year-over-year basis. On average, analysts predict that Terex Co. will post 6.07 earnings per share for the current fiscal year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 yield of 1.34%. Terex's dividend payout ratio (DPR) is presently 9.93%.

Analysts Set New Price Targets

A number of research analysts recently commented on TEX shares. Truist Financial increased their price target on shares of Terex from $62.00 to $65.00 and gave the company a "buy" rating in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their target price on Terex from $65.00 to $62.00 and set a "neutral" rating for the company in a report on Monday, October 14th. Robert W. Baird decreased their price target on Terex from $65.00 to $55.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Citigroup cut their price objective on shares of Terex from $60.00 to $57.00 and set a "neutral" rating on the stock in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group lowered their target price on shares of Terex from $72.00 to $62.00 and set a "neutral" rating for the company in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $59.56.

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.