AlphaQuest LLC Raises Position in Terex Corporation $TEX

AlphaQuest LLC lifted its position in shares of Terex Corporation (NYSE:TEX) by 8,612.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,716 shares of the industrial products company’s stock after purchasing an additional 10,593 shares during the period. AlphaQuest LLC’s holdings in Terex were worth $550,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TEX. Millennium Management LLC boosted its stake in Terex by 1,086.3% during the 1st quarter. Millennium Management LLC now owns 256,054 shares of the industrial products company’s stock valued at $9,674,000 after acquiring an additional 234,470 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Terex by 427.2% during the first quarter. Jones Financial Companies Lllp now owns 3,506 shares of the industrial products company’s stock worth $132,000 after acquiring an additional 2,841 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Terex by 3.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,092,189 shares of the industrial products company’s stock valued at $41,263,000 after buying an additional 40,077 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Terex by 0.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 195,210 shares of the industrial products company’s stock valued at $7,375,000 after buying an additional 1,597 shares during the last quarter. Finally, Intech Investment Management LLC boosted its position in shares of Terex by 47.4% during the first quarter. Intech Investment Management LLC now owns 45,501 shares of the industrial products company’s stock worth $1,719,000 after buying an additional 14,629 shares during the period. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley upgraded Terex from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $47.00 to $60.00 in a research report on Wednesday, December 10th. Wall Street Zen cut Terex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 21st. Raymond James Financial upgraded shares of Terex from a “market perform” rating to an “outperform” rating and set a $70.00 price objective on the stock in a research note on Monday, October 27th. Wells Fargo & Company upped their price objective on shares of Terex from $50.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Terex in a research report on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Terex has an average rating of “Moderate Buy” and an average price target of $59.18.

Terex Stock Performance

NYSE:TEX opened at $64.35 on Thursday. The company has a 50-day moving average of $55.45 and a 200-day moving average of $52.24. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 5.70 and a beta of 1.68. The company has a current ratio of 2.15, a quick ratio of 1.20 and a debt-to-equity ratio of 1.28. Terex Corporation has a twelve month low of $31.53 and a twelve month high of $66.18.

Terex Company Profile

Terex Corporation is a global manufacturer of lifting and material-handling plant and equipment, serving a range of industries that includes construction, infrastructure, energy, manufacturing and shipping logistics. Its product portfolio encompasses aerial work platforms, rough terrain and tower cranes, port and cargo handling equipment, material processing machinery and utility products. These offerings are marketed under well-known brands such as Genie®, Terex® AWP, Terex® Cranes, Demag®, and Powerscreen®, and are designed to meet diverse application requirements from building sites to industrial facilities and ports.

Headquartered in Westport, Connecticut, Terex traces its roots back to 1933 and has grown through strategic acquisitions and organic expansion.