Terex Co. (NYSE:TEX) Shares Acquired by Citigroup Inc.

Citigroup Inc. increased its stake in Terex Co. (NYSE:TEX) by 65.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,443 shares of the industrial products company’s stock after purchasing an additional 27,896 shares during the quarter. Citigroup Inc. owned about 0.11% of Terex worth $3,727,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Cetera Advisors LLC bought a new stake in Terex in the first quarter worth about $287,000. CWM LLC raised its position in Terex by 65.8% in the second quarter. CWM LLC now owns 3,120 shares of the industrial products company’s stock worth $171,000 after acquiring an additional 1,238 shares in the last quarter. Profit Investment Management LLC raised its position in Terex by 61.3% in the second quarter. Profit Investment Management LLC now owns 64,994 shares of the industrial products company’s stock worth $3,564,000 after acquiring an additional 24,688 shares in the last quarter. SG Americas Securities LLC raised its position in Terex by 425.2% in the second quarter. SG Americas Securities LLC now owns 25,026 shares of the industrial products company’s stock worth $1,372,000 after acquiring an additional 20,261 shares in the last quarter. Finally, Curated Wealth Partners LLC raised its position in Terex by 200.0% in the second quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock worth $9,702,000 after acquiring an additional 353,844 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on TEX. Truist Financial boosted their price target on shares of Terex from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Robert W. Baird reduced their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Citigroup reduced their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. The Goldman Sachs Group reduced their price objective on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $59.56.

Terex Price Performance

NYSE TEX opened at $55.63 on Thursday. The company has a 50 day simple moving average of $53.60 and a 200-day simple moving average of $55.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 8.07, a price-to-earnings-growth ratio of 4.46 and a beta of 1.53. Terex Co. has a 52-week low of $48.11 and a 52-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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. The firm’s revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.75 earnings per share. Equities research analysts predict that Terex Co. will post 6.07 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be issued a $0.17 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.22%. Terex’s dividend payout ratio is currently 9.93%.

Terex Company 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.