Empowered Funds LLC Acquires 763 Shares of Terex Co. (NYSE:TEX)

Empowered Funds LLC increased its holdings in shares of Terex Co. (NYSE:TEX) by 0.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 176,165 shares of the industrial products company’s stock after acquiring an additional 763 shares during the period. Empowered Funds LLC’s holdings in Terex were worth $9,321,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TEX. Greenwich Wealth Management LLC grew its stake in shares of Terex by 0.3% in 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 period. Dorsey Wright & Associates grew its position in Terex by 0.3% in 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 period. Blue Trust Inc. raised its stake in Terex by 57.5% during the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 187 shares in the last quarter. FCG Investment Co boosted its stake 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 valued at $358,000 after purchasing an additional 220 shares in the last quarter. Finally, US Bancorp DE grew 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 purchasing an additional 227 shares during the last quarter. Institutional investors own 92.88% of the company’s stock.

Terex Trading Down 1.1 %

Shares of TEX opened at $51.98 on Friday. The stock’s fifty day simple moving average is $53.23 and its 200-day simple moving average is $55.65. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.47 billion, a PE ratio of 7.59, a price-to-earnings-growth ratio of 4.17 and a beta of 1.53. 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 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 net margin of 9.08% and a return on equity of 24.92%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company earned $1.75 EPS. Terex’s revenue was down 6.0% on a year-over-year basis. As a group, research analysts predict 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 of this dividend is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.31%. Terex’s dividend payout ratio is presently 9.93%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TEX shares. The Goldman Sachs Group cut their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Truist Financial lifted their target price on shares of Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Citigroup decreased their price target on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. Evercore ISI cut their price objective on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. lowered their target price on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $59.56.

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.