Lingohr Asset Management GmbH Raises Stock Holdings in Terex Co. (NYSE:TEX)

Lingohr Asset Management GmbH raised its holdings in Terex Co. (NYSE:TEX) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,516 shares of the industrial products company’s stock after purchasing an additional 230 shares during the period. Lingohr Asset Management GmbH’s holdings in Terex were worth $607,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TEX. Clearbridge Investments LLC grew its stake in Terex by 2.6% in the 1st quarter. Clearbridge Investments LLC now owns 351,153 shares of the industrial products company’s stock valued at $22,614,000 after acquiring an additional 8,908 shares during the period. TCW Group Inc. purchased a new position in Terex during the second quarter valued at $566,000. DekaBank Deutsche Girozentrale grew its position in shares of Terex by 26.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 106,849 shares of the industrial products company’s stock valued at $6,809,000 after purchasing an additional 22,291 shares during the period. Edgestream Partners L.P. increased its stake in shares of Terex by 181.6% during the second quarter. Edgestream Partners L.P. now owns 68,898 shares of the industrial products company’s stock worth $3,778,000 after purchasing an additional 44,432 shares in the last quarter. Finally, Chartwell Investment Partners LLC purchased a new stake in shares of Terex during the third quarter worth about $559,000. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Evercore ISI decreased their target price on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Robert W. Baird lowered their price target on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. reduced their price objective on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Finally, Truist Financial raised their price objective on Terex from $62.00 to $65.00 and gave the company a “buy” rating in a report on Monday, November 4th. One investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $59.56.

Terex Stock Performance

NYSE TEX opened at $52.29 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39. The stock’s fifty day moving average is $53.27 and its two-hundred day moving average is $55.61. The firm has a market capitalization of $3.49 billion, a P/E ratio of 7.63, a price-to-earnings-growth ratio of 4.20 and a beta of 1.53. Terex Co. has a fifty-two week low of $48.11 and a fifty-two week high of $68.08.

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

Terex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 annualized dividend and a yield of 1.30%. Terex’s payout ratio is 9.93%.

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.