Summit Global Investments Buys 16,639 Shares of Terex Co. (NYSE:TEX)

Summit Global Investments raised its stake in shares of Terex Co. (NYSE:TEX) by 302.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,141 shares of the industrial products company’s stock after acquiring an additional 16,639 shares during the period. Summit Global Investments’ holdings in Terex were worth $1,171,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. HM Payson & Co. bought a new position in shares of Terex during the first quarter valued at about $24,429,000. Curated Wealth Partners LLC lifted its position in shares of Terex by 200.0% during the 2nd quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock worth $9,702,000 after buying an additional 353,844 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Terex by 18.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock worth $99,045,000 after buying an additional 285,750 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Terex by 25.6% in the second quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock valued at $72,538,000 after acquiring an additional 269,777 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Terex by 169.0% during the second quarter. Millennium Management LLC now owns 264,885 shares of the industrial products company’s stock valued at $14,526,000 after acquiring an additional 166,429 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TEX. The Goldman Sachs Group lowered their price objective on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Citigroup lowered their price target on shares of Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. 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 report on Monday, October 14th. Robert W. Baird lowered their target price on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Evercore ISI cut their price target on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Terex has a consensus rating of “Hold” and an average price target of $59.56.

Terex Price Performance

Terex stock opened at $55.75 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. Terex Co. has a one year low of $47.30 and a one year high of $68.08. The firm has a market capitalization of $3.72 billion, a P/E ratio of 8.14, a PEG ratio of 4.73 and a beta of 1.53. The business has a fifty day moving average price of $53.18 and a 200-day moving average price of $55.89.

Terex (NYSE:TEX) last issued its 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 during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company earned $1.75 EPS. The firm’s revenue was down 6.0% compared to the same quarter last year. As a group, equities research analysts forecast that Terex Co. will post 6.07 EPS for the current year.

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.22%. Terex’s dividend payout ratio (DPR) is presently 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.