Qsemble Capital Management LP Makes New Investment in Terex Co. (NYSE:TEX)

Qsemble Capital Management LP purchased a new position in shares of Terex Co. (NYSE:TEX) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,550 shares of the industrial products company’s stock, valued at approximately $294,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TEX. Price T Rowe Associates Inc. MD lifted its position in Terex by 5.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 75,482 shares of the industrial products company’s stock worth $4,862,000 after buying an additional 3,573 shares in the last quarter. Cetera Advisors LLC bought a new stake in Terex during the 1st quarter worth about $287,000. Verity Asset Management Inc. bought a new stake in Terex during the 1st quarter worth about $427,000. DekaBank Deutsche Girozentrale lifted 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 worth $6,809,000 after buying an additional 22,291 shares in the last quarter. Finally, HM Payson & Co. bought a new stake in shares of Terex in the 1st quarter valued at about $24,429,000. 92.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Terex Stock Down 0.1 %

Shares of TEX opened at $54.27 on Thursday. Terex Co. has a 52 week low of $48.11 and a 52 week high of $68.08. The firm has a market cap of $3.63 billion, a P/E ratio of 7.92, a price-to-earnings-growth ratio of 4.52 and a beta of 1.53. The firm’s 50-day simple moving average is $53.46 and its 200 day simple moving average is $55.32. 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 (NYSE:TEX) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. Terex had a net margin of 9.08% and a return on equity of 24.92%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the business earned $1.75 EPS. Terex’s quarterly revenue was down 6.0% on a year-over-year basis. On average, analysts forecast that Terex Co. will post 6.07 earnings per share for the current year.

Terex Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.25%. Terex’s payout ratio is presently 9.93%.

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.