Fisher Asset Management LLC Grows Stock Holdings in Terex Co. (NYSE:TEX)

Fisher Asset Management LLC lifted its position in Terex Co. (NYSE:TEX) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,848,940 shares of the industrial products company’s stock after buying an additional 4,517 shares during the period. Fisher Asset Management LLC owned approximately 2.77% of Terex worth $97,827,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TEX. TCW Group Inc. purchased a new position in Terex in the second quarter worth $566,000. DekaBank Deutsche Girozentrale increased its position in Terex by 26.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 106,849 shares of the industrial products company’s stock valued at $6,809,000 after buying an additional 22,291 shares in the last quarter. Chartwell Investment Partners LLC purchased a new stake in Terex in the third quarter valued at about $559,000. Edgestream Partners L.P. boosted its holdings in Terex by 181.6% in the second quarter. Edgestream Partners L.P. now owns 68,898 shares of the industrial products company’s stock worth $3,778,000 after acquiring an additional 44,432 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Terex during the third quarter worth about $615,000. Institutional investors own 92.88% of the company’s stock.

Terex Stock Performance

NYSE TEX opened at $56.03 on Tuesday. The firm has a market capitalization of $3.74 billion, a P/E ratio of 8.18, a PEG ratio of 4.34 and a beta of 1.53. The stock has a 50-day simple moving average of $53.49 and a two-hundred day simple moving average of $55.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39. Terex Co. has a fifty-two week low of $48.11 and a fifty-two week high of $68.08.

Terex (NYSE:TEX) last announced its quarterly earnings results 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. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. Terex’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period last year, the business earned $1.75 earnings per share. On average, equities analysts forecast that Terex Co. will post 6.07 earnings per share for the current year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, November 8th. This represents a $0.68 annualized dividend and a yield of 1.21%. Terex’s dividend payout ratio is presently 9.93%.

Analyst Ratings Changes

TEX has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Robert W. Baird lowered 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. Evercore ISI cut their target price on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. The Goldman Sachs Group reduced their target price on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Finally, Truist Financial increased their price objective on Terex from $62.00 to $65.00 and gave the company a “buy” rating in a report on Monday, November 4th. One equities 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.