Terex Co. (NYSE:TEX) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC lifted its position in Terex Co. (NYSE:TEX) by 331.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,725 shares of the industrial products company’s stock after purchasing an additional 18,999 shares during the quarter. Cerity Partners LLC’s holdings in Terex were worth $1,308,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. grew its stake in shares of Terex by 57.5% in the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 187 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Terex by 83.3% in the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 335 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Terex by 74.6% in the 3rd 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 last quarter. International Assets Investment Management LLC acquired a new stake in shares of Terex in the 2nd quarter valued at approximately $109,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Terex in the 2nd quarter valued at approximately $111,000. 92.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TEX has been the subject of several recent analyst reports. Citigroup reduced their price target on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Truist Financial raised their price target on Terex from $62.00 to $65.00 and gave the company a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. reduced their price target on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Evercore ISI reduced their price target on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Finally, Robert W. Baird reduced their price objective on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $59.56.

Terex Stock Performance

NYSE TEX opened at $55.18 on Wednesday. Terex Co. has a fifty-two week low of $48.11 and a fifty-two week high of $68.08. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 8.06, a price-to-earnings-growth ratio of 4.46 and a beta of 1.53. The business has a fifty day moving average of $53.56 and a 200-day moving average of $55.11. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

Terex (NYSE:TEX) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.75 earnings per share. As a group, analysts predict that Terex Co. will post 6.07 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Friday, November 8th. Terex’s dividend payout ratio is currently 9.93%.

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.