Bridgewater Associates LP Has $4.18 Million Stock Holdings in Terex Co. (NYSE:TEX)

Bridgewater Associates LP increased its stake in Terex Co. (NYSE:TEX) by 176.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,009 shares of the industrial products company’s stock after acquiring an additional 50,389 shares during the quarter. Bridgewater Associates LP owned about 0.12% of Terex worth $4,180,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TEX. Blue Trust Inc. lifted its position in shares of Terex by 57.5% in the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 187 shares during the period. GAMMA Investing LLC lifted its holdings in Terex by 83.3% in the third quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock valued at $39,000 after buying an additional 335 shares during the period. Truvestments Capital LLC bought a new stake in Terex during the third quarter valued at $41,000. Farther Finance Advisors LLC raised its position in shares of Terex by 74.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 504 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Terex in the 2nd quarter worth about $109,000. 92.88% of the stock is currently owned by institutional investors.

Terex Stock Up 1.2 %

Shares of NYSE TEX opened at $54.90 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. The company has a 50-day moving average price of $53.44 and a 200-day moving average price of $55.30. The stock has a market capitalization of $3.67 billion, a P/E ratio of 8.01, a P/E/G ratio of 4.38 and a beta of 1.53. Terex Co. has a 1 year low of $48.11 and a 1 year high of $68.08.

Terex (NYSE:TEX) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. The company’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.75 EPS. On average, equities research analysts forecast that Terex Co. will post 6.07 EPS for the current fiscal year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.24%. The ex-dividend date is Friday, November 8th. Terex’s dividend payout ratio (DPR) is presently 9.93%.

Wall Street Analyst Weigh In

Several research firms recently commented on TEX. Truist Financial raised their target price on Terex from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Robert W. Baird dropped 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. Evercore ISI cut their target price on shares of Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. Citigroup decreased their price target on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Finally, The Goldman Sachs Group dropped their price objective 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Terex currently has an average rating of “Hold” and a consensus price target of $59.56.

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.