Magnetar Financial LLC Buys New Stake in Terex Co. (NYSE:TEX)

Magnetar Financial LLC bought a new stake in shares of Terex Co. (NYSE:TEX) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 14,935 shares of the industrial products company’s stock, valued at approximately $690,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Regents Gate Capital LLP acquired a new position in Terex in the 4th quarter worth $5,561,000. Point72 Asset Management L.P. acquired a new position in Terex in the 3rd quarter worth $4,283,000. Foundry Partners LLC acquired a new position in Terex in the 3rd quarter worth $3,881,000. Bank of New York Mellon Corp lifted its holdings in Terex by 7.9% in the 4th quarter. Bank of New York Mellon Corp now owns 725,486 shares of the industrial products company’s stock worth $33,532,000 after buying an additional 52,885 shares in the last quarter. Finally, Bridgewater Associates LP lifted its holdings in Terex by 176.1% in the 3rd quarter. Bridgewater Associates LP now owns 79,009 shares of the industrial products company’s stock worth $4,180,000 after buying an additional 50,389 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Insiders Place Their Bets

In related news, Director Andra Rush bought 1,325 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the transaction, the director now directly owns 23,308 shares in the company, valued at $861,463.68. This represents a 6.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TEX. Barclays cut their price objective on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Evercore ISI cut their target price on shares of Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. The Goldman Sachs Group cut their target price on shares of Terex from $60.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Terex from $51.00 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Truist Financial dropped their price objective on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $54.22.

Terex Stock Up 0.1 %

Shares of NYSE:TEX opened at $39.11 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16. The company has a market cap of $2.60 billion, a PE ratio of 7.88, a price-to-earnings-growth ratio of 4.53 and a beta of 1.56. Terex Co. has a 52 week low of $36.15 and a 52 week high of $68.08. The firm has a 50 day simple moving average of $44.09 and a 200 day simple moving average of $48.92.

Terex (NYSE:TEX) last issued its quarterly earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same period in the prior year, the firm posted $1.88 earnings per share. As a group, research analysts expect that Terex Co. will post 4.83 earnings per share for the current year.

Terex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were given a $0.17 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.74%. Terex’s payout ratio is 13.71%.

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.