Magnetar Financial LLC Takes $690,000 Position in Terex Co. (NYSE:TEX)

Magnetar Financial LLC acquired a new position in shares of Terex Co. (NYSE:TEX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,935 shares of the industrial products company’s stock, valued at approximately $690,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Cascade Investment Advisors Inc. bought a new position in Terex in the 4th quarter worth about $1,070,000. Barclays PLC increased its stake in Terex by 40.2% in the 3rd quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock worth $6,838,000 after purchasing an additional 37,072 shares during the period. Point72 Asset Management L.P. purchased a new position in Terex in the 3rd quarter worth approximately $4,283,000. Citigroup Inc. grew its position in shares of Terex by 65.6% in the 3rd quarter. Citigroup Inc. now owns 70,443 shares of the industrial products company’s stock worth $3,727,000 after buying an additional 27,896 shares during the last quarter. Finally, Cerity Partners LLC grew its position in shares of Terex by 331.8% in the 3rd quarter. Cerity Partners LLC now owns 24,725 shares of the industrial products company’s stock worth $1,308,000 after buying an additional 18,999 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Terex Stock Performance

NYSE:TEX opened at $39.11 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09. Terex Co. has a 12 month low of $36.15 and a 12 month high of $68.08. The firm has a market capitalization of $2.60 billion, a PE ratio of 7.88, a price-to-earnings-growth ratio of 4.53 and a beta of 1.56. The business’s fifty day moving average price is $44.09 and its 200 day moving average price is $48.92.

Terex (NYSE:TEX) last announced its earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same quarter in the prior year, the business earned $1.88 earnings per share. On average, sell-side analysts anticipate that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.74%. Terex’s dividend payout ratio (DPR) is presently 13.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Citigroup dropped their price target on Terex from $48.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. JPMorgan Chase & Co. decreased their price target on Terex from $51.00 to $48.00 and set a “neutral” rating for the company in a research note on Tuesday. Truist Financial reduced their price objective on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Barclays reduced their price target on Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Finally, StockNews.com lowered Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $54.22.

Insider Transactions at Terex

In other news, Director Andra Rush bought 1,325 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the transaction, the director now owns 23,308 shares in the company, valued at $861,463.68. The trade was a 6.03 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.90% of the company’s stock.

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.