Y Intercept Hong Kong Ltd Makes New $1.28 Million Investment in Terex Co. (NYSE:TEX)

Y Intercept Hong Kong Ltd purchased a new position in Terex Co. (NYSE:TEX - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 24,212 shares of the industrial products company's stock, valued at approximately $1,281,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TEX. Cetera Advisors LLC bought a new position in Terex during the first quarter valued at about $287,000. CWM LLC increased its position in shares of Terex by 65.8% during the second quarter. CWM LLC now owns 3,120 shares of the industrial products company's stock valued at $171,000 after purchasing an additional 1,238 shares during the period. SG Americas Securities LLC raised its stake in shares of Terex by 425.2% in the second quarter. SG Americas Securities LLC now owns 25,026 shares of the industrial products company's stock valued at $1,372,000 after purchasing an additional 20,261 shares in the last quarter. Diversified Trust Co lifted its position in Terex by 27.6% in the second quarter. Diversified Trust Co now owns 4,441 shares of the industrial products company's stock worth $244,000 after purchasing an additional 961 shares during the period. Finally, Blue Trust Inc. boosted its stake in 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 buying an additional 187 shares in the last quarter. Institutional investors own 92.88% of the company's stock.

Terex Price Performance

TEX stock traded down $0.04 during midday trading on Thursday, reaching $50.64. 712,280 shares of the company's stock traded hands, compared to its average volume of 802,853. The company has a 50-day simple moving average of $53.65 and a two-hundred day simple moving average of $54.74. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. Terex Co. has a 1-year low of $48.11 and a 1-year high of $68.08. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 7.39, a PEG ratio of 4.28 and a beta of 1.53.

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

Terex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.34%. Terex's payout ratio is 9.93%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TEX. Robert W. Baird dropped their price objective on shares of Terex from $65.00 to $55.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. Citigroup dropped their price target on shares of Terex from $60.00 to $57.00 and set a "neutral" rating for the company in a research report on Monday, September 23rd. Evercore ISI decreased 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. Truist Financial increased their target price on Terex from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their price target on Terex from $65.00 to $62.00 and set a "neutral" rating on the stock in a research note on Monday, October 14th. One research 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 company has an average 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.