80,947 Shares in Terex Co. (NYSE:TEX) Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new stake in Terex Co. (NYSE:TEX) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 80,947 shares of the industrial products company’s stock, valued at approximately $4,283,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. TCW Group Inc. acquired a new position in Terex during the second quarter worth $566,000. Chartwell Investment Partners LLC purchased a new stake in shares of Terex during the third quarter worth about $559,000. Edgestream Partners L.P. raised its position in shares of Terex by 181.6% during the 2nd 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 during the last quarter. GSA Capital Partners LLP purchased a new position in Terex in the 3rd quarter valued at about $615,000. Finally, AQR Capital Management LLC boosted its holdings in 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. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Terex Price Performance

Terex stock opened at $52.94 on Monday. The company has a 50-day moving average price of $53.70 and a 200 day moving average price of $54.89. The stock has a market cap of $3.54 billion, a P/E ratio of 7.73, a PEG ratio of 4.49 and a beta of 1.53. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. Terex Co. has a 12-month low of $48.11 and a 12-month high of $68.08.

Terex (NYSE:TEX) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share 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 company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the business posted $1.75 earnings per share. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. Sell-side analysts anticipate that Terex Co. will post 6.07 earnings per share for the current year.

Terex Announces Dividend

The business 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 annualized dividend and a yield of 1.28%. Terex’s dividend payout ratio (DPR) is currently 9.93%.

Analysts Set New Price Targets

TEX has been the topic of several research reports. Robert W. Baird decreased their target price on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report 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. Citigroup lowered their target price 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. Evercore ISI reduced their target price on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, 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. 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $59.56.

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.