Dynamic Technology Lab Private Ltd Purchases New Shares in Terex Co. (NYSE:TEX)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Terex Co. (NYSE:TEX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,536 shares of the industrial products company’s stock, valued at approximately $293,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in Terex by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock worth $154,224,000 after acquiring an additional 109,885 shares during the period. AQR Capital Management LLC grew its position in shares of Terex by 18.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock worth $99,045,000 after purchasing an additional 285,750 shares in the last quarter. Greenhaven Associates Inc. increased its holdings in shares of Terex by 1.6% during the second quarter. Greenhaven Associates Inc. now owns 1,499,671 shares of the industrial products company’s stock worth $82,242,000 after purchasing an additional 23,371 shares during the period. American Century Companies Inc. raised its position in shares of Terex by 25.6% in the second quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock valued at $72,538,000 after buying an additional 269,777 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Terex by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 790,118 shares of the industrial products company’s stock valued at $43,330,000 after buying an additional 26,377 shares during the period. Institutional investors and hedge funds own 92.88% of the company’s stock.

Terex Trading Up 1.0 %

Shares of Terex stock opened at $54.79 on Monday. The firm has a market capitalization of $3.66 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 4.42 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. The firm’s 50 day moving average is $53.50 and its 200 day moving average is $55.20. Terex Co. has a 1 year low of $48.11 and a 1 year high of $68.08.

Terex (NYSE:TEX) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business earned $1.75 earnings per share. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. Equities research analysts forecast that Terex Co. will post 6.07 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently declared 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 payout ratio is 9.93%.

Analyst Ratings Changes

A number of equities analysts have commented on TEX shares. Citigroup lowered their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research note 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 on the stock in a research report on Friday, September 20th. JPMorgan Chase & Co. cut their price objective on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Evercore ISI decreased their target price on shares of Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. Finally, Truist Financial boosted their target price on shares of Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, November 4th. One investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.