Foundry Partners LLC Takes Position in Terex Co. (NYSE:TEX)

Foundry Partners LLC bought a new position in Terex Co. (NYSE:TEX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 73,353 shares of the industrial products company’s stock, valued at approximately $3,881,000. Foundry Partners LLC owned 0.11% of Terex as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Terex by 57.5% in the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 187 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Terex by 83.3% in the third quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 335 shares during the last quarter. Farther Finance Advisors LLC raised its position 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 purchasing an additional 504 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Terex in the 2nd quarter valued at $109,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Terex in the 2nd quarter valued at $111,000. Institutional investors own 92.88% of the company’s stock.

Terex Stock Performance

Shares of Terex stock opened at $52.89 on Friday. The company has a 50 day moving average of $53.38 and a 200-day moving average of $55.52. Terex Co. has a 1-year low of $48.11 and a 1-year high of $68.08. 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 company has a market cap of $3.53 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 4.15 and a beta of 1.53.

Terex (NYSE:TEX) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm earned $1.75 earnings per share. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, equities research analysts forecast that Terex Co. will post 6.07 earnings per share for the current fiscal 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 $0.17 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.29%. Terex’s payout ratio is 9.93%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TEX. Robert W. Baird decreased their target price on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. lowered 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. Citigroup reduced their target price on 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 dropped their target price on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Finally, Truist Financial lifted their target price on Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Terex presently has a consensus rating of “Hold” and an average price target 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.