Cubist Systematic Strategies LLC Invests $499,000 in Terex Co. (NYSE:TEX) Stock

Cubist Systematic Strategies LLC purchased a new stake in shares of Terex Co. (NYSE:TEX) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,092 shares of the industrial products company’s stock, valued at approximately $499,000.

Other large investors have also added to or reduced their stakes in the company. TIAA CREF Investment Management LLC boosted its holdings in Terex by 51.0% during the second quarter. TIAA CREF Investment Management LLC now owns 3,624,339 shares of the industrial products company’s stock worth $135,913,000 after buying an additional 1,224,422 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Terex by 6.6% during the second quarter. Alliancebernstein L.P. now owns 3,298,490 shares of the industrial products company’s stock valued at $123,693,000 after purchasing an additional 202,899 shares in the last quarter. TCW Group Inc. lifted its holdings in Terex by 0.8% during the third quarter. TCW Group Inc. now owns 2,835,710 shares of the industrial products company’s stock valued at $127,664,000 after purchasing an additional 23,301 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Terex by 27.4% in the third quarter. JPMorgan Chase & Co. now owns 2,241,830 shares of the industrial products company’s stock worth $100,591,000 after buying an additional 481,903 shares in the last quarter. Finally, Teachers Advisors LLC lifted its stake in shares of Terex by 14.9% in the second quarter. Teachers Advisors LLC now owns 1,561,990 shares of the industrial products company’s stock worth $58,575,000 after buying an additional 202,057 shares in the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.

Terex Co. (NYSE TEX) opened at $48.80 on Friday. Terex Co. has a 12 month low of $28.67 and a 12 month high of $48.92. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.53 and a current ratio of 2.42. The firm has a market cap of $4,100.00, a price-to-earnings ratio of -25.42, a PEG ratio of 1.87 and a beta of 1.89.

Terex (NYSE:TEX) last released its earnings results on Tuesday, October 31st. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.14. Terex had a negative net margin of 2.62% and a positive return on equity of 7.01%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the firm earned $0.19 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. research analysts predict that Terex Co. will post 1.29 earnings per share for the current year.

In related news, VP Mark I. Clair sold 3,014 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $45.53, for a total transaction of $137,227.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have bought 964 shares of company stock valued at $44,623. Corporate insiders own 2.50% of the company’s stock.

Several equities analysts have recently weighed in on the stock. ValuEngine downgraded shares of Terex from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded shares of Terex from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Wednesday, October 11th. Deutsche Bank cut shares of Terex from a “buy” rating to a “hold” rating and cut their price objective for the stock from $44.00 to $43.00 in a research report on Thursday, September 21st. Robert W. Baird reiterated a “buy” rating and set a $52.00 price target on shares of Terex in a research report on Thursday, December 21st. Finally, Bank of America dropped their price target on shares of Terex from $42.00 to $40.00 and set an “underperform” rating for the company in a research report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $44.71.

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Terex Company Profile

Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries.

Institutional Ownership by Quarter for Terex (NYSE:TEX)

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