State of New Jersey Common Pension Fund D bought a new stake in Terex Co. (NYSE:TEX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 75,900 shares of the industrial products company’s stock, valued at approximately $1,971,000. State of New Jersey Common Pension Fund D owned about 0.11% of Terex as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new stake in shares of Terex in the second quarter worth $72,000. Pearl River Capital LLC acquired a new stake in shares of Terex in the second quarter worth $83,000. Investors Research Corp lifted its stake in shares of Terex by 16.2% in the second quarter. Investors Research Corp now owns 4,300 shares of the industrial products company’s stock worth $135,000 after buying an additional 600 shares during the last quarter. First Mercantile Trust Co. lifted its stake in shares of Terex by 32.1% in the second quarter. First Mercantile Trust Co. now owns 4,610 shares of the industrial products company’s stock worth $145,000 after buying an additional 1,120 shares during the last quarter. Finally, Dupont Capital Management Corp lifted its stake in shares of Terex by 72.3% in the second quarter. Dupont Capital Management Corp now owns 6,435 shares of the industrial products company’s stock worth $202,000 after buying an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 89.05% of the company’s stock.
A number of analysts have recently weighed in on the stock. Citigroup cut shares of Terex from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $27.00 to $24.00 in a research note on Tuesday, October 15th. Cfra cut shares of Terex from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Stifel Nicolaus cut shares of Terex from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $36.00 to $24.00 in a research note on Thursday, October 31st. JPMorgan Chase & Co. cut shares of Terex from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 31st. Finally, Goldman Sachs Group upgraded shares of Terex from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $25.00 to $37.00 in a research note on Friday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $29.15.
Terex (NYSE:TEX) last announced its earnings results on Wednesday, October 30th. The industrial products company reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.01). Terex had a positive return on equity of 29.17% and a negative net margin of 0.07%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm posted $1.08 EPS. The company’s revenue was down 6.8% compared to the same quarter last year. Equities research analysts anticipate that Terex Co. will post 3.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Thursday, November 7th. Terex’s dividend payout ratio (DPR) is currently 16.24%.
In related news, insider Matthew Fearon sold 26,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $28.24, for a total transaction of $734,240.00. Following the transaction, the insider now owns 92,702 shares of the company’s stock, valued at $2,617,904.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 1,651 shares of company stock worth $41,542 in the last ninety days. 4.00% of the stock is currently owned by insiders.
Terex Company Profile
Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.
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