Advisors Asset Management Inc. Buys 4,633 Shares of Terex Co. (NYSE:TEX)

Advisors Asset Management Inc. boosted its stake in Terex Co. (NYSE:TEX) by 8.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,056 shares of the industrial products company’s stock after purchasing an additional 4,633 shares during the quarter. Advisors Asset Management Inc. owned about 0.09% of Terex worth $3,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of TEX. Greenwich Wealth Management LLC increased its position in shares of Terex by 0.3% during the 3rd quarter. Greenwich Wealth Management LLC now owns 62,371 shares of the industrial products company’s stock valued at $3,300,000 after purchasing an additional 181 shares during the last quarter. Dorsey Wright & Associates grew its position in Terex by 0.3% during the second quarter. Dorsey Wright & Associates now owns 61,309 shares of the industrial products company’s stock valued at $3,362,000 after acquiring an additional 186 shares during the last quarter. Blue Trust Inc. grew its position in Terex by 57.5% during the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 187 shares during the last quarter. FCG Investment Co lifted its holdings in shares of Terex by 3.5% in the 2nd quarter. FCG Investment Co now owns 6,534 shares of the industrial products company’s stock worth $358,000 after acquiring an additional 220 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Terex by 4.0% in the 3rd quarter. US Bancorp DE now owns 5,837 shares of the industrial products company’s stock worth $309,000 after acquiring an additional 227 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on TEX shares. Robert W. Baird decreased their target price on shares of 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. decreased their price objective on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Evercore ISI dropped their target price on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Truist Financial lifted their price target on Terex from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group dropped their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Terex has a consensus rating of “Hold” and a consensus price target of $59.56.

Terex Trading Up 1.7 %

NYSE:TEX opened at $53.80 on Friday. The company has a 50-day moving average price of $53.43 and a 200-day moving average price of $55.44. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 7.85, a P/E/G ratio of 4.27 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 posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm posted $1.75 EPS. The business’s revenue was down 6.0% on a year-over-year basis. Equities analysts predict that Terex Co. will post 6.07 EPS for the current year.

Terex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend 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.