GAMMA Investing LLC Acquires 335 Shares of Terex Co. (NYSE:TEX)

GAMMA Investing LLC increased its holdings in Terex Co. (NYSE:TEX) by 83.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 737 shares of the industrial products company’s stock after purchasing an additional 335 shares during the quarter. GAMMA Investing LLC’s holdings in Terex were worth $39,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TEX. Blue Trust Inc. lifted its holdings in Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after buying an additional 187 shares during the period. FinTrust Capital Advisors LLC lifted its stake in shares of Terex by 202.2% in the first quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 465 shares during the period. International Assets Investment Management LLC bought a new stake in Terex in the second quarter valued at approximately $109,000. 1620 Investment Advisors Inc. acquired a new stake in Terex during the 2nd quarter valued at approximately $111,000. Finally, AM Squared Ltd raised its holdings in Terex by 64.3% during the 2nd quarter. AM Squared Ltd now owns 2,300 shares of the industrial products company’s stock worth $126,000 after purchasing an additional 900 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Terex

In related news, Director Andra Rush purchased 2,205 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the completion of the acquisition, the director now owns 21,983 shares of the company’s stock, valued at $1,194,995.88. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Citigroup reduced their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. Raymond James began coverage on Terex in a report on Friday, June 28th. They set a “market perform” rating for the company. Evercore ISI dropped their price objective on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Jefferies Financial Group decreased their target price on Terex from $68.00 to $55.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. lowered their target price on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $60.30.

Terex Price Performance

Shares of TEX opened at $56.35 on Friday. The stock has a market cap of $3.79 billion, a P/E ratio of 7.46, a P/E/G ratio of 4.59 and a beta of 1.53. The business’s fifty day moving average is $53.40 and its 200 day moving average is $56.91. The company has a quick ratio of 1.07, a current ratio of 2.21 and a debt-to-equity ratio of 0.36. Terex Co. has a 12-month low of $43.70 and a 12-month high of $68.08.

Terex (NYSE:TEX) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.10. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. Terex had a net margin of 9.55% and a return on equity of 27.89%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned $2.35 earnings per share. Sell-side analysts anticipate that Terex Co. will post 5.91 earnings per share for the current fiscal year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Friday, November 8th. Terex’s dividend payout ratio is currently 9.01%.

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.