Nordea Investment Management AB Grows Position in Terex Corporation $TEX

Nordea Investment Management AB increased its position in shares of Terex Corporation (NYSE:TEX) by 37.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 149,487 shares of the industrial products company’s stock after buying an additional 40,754 shares during the quarter. Nordea Investment Management AB owned about 0.23% of Terex worth $7,021,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in Terex by 22.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,104 shares of the industrial products company’s stock worth $52,000 after buying an additional 199 shares during the last quarter. Rise Advisors LLC grew its stake in shares of Terex by 65.3% in the 2nd quarter. Rise Advisors LLC now owns 610 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 241 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Terex by 56.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 847 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 307 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Terex by 24.0% in the 2nd quarter. Blue Trust Inc. now owns 1,870 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 362 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Terex by 6.6% in the 2nd quarter. QRG Capital Management Inc. now owns 5,954 shares of the industrial products company’s stock valued at $278,000 after purchasing an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TEX. Weiss Ratings reiterated a “hold (c)” rating on shares of Terex in a research note on Wednesday, October 8th. UBS Group lifted their target price on Terex from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, July 10th. Truist Financial set a $62.00 target price on Terex in a research note on Monday, August 4th. Wall Street Zen raised Terex from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Citigroup raised their price target on Terex from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.67.

Insider Buying and Selling at Terex

In other news, VP Scott Posner sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $50.50, for a total value of $252,500.00. Following the completion of the transaction, the vice president directly owned 70,308 shares of the company’s stock, valued at $3,550,554. The trade was a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.90% of the stock is currently owned by company insiders.

Terex Stock Performance

Shares of TEX stock opened at $55.20 on Tuesday. Terex Corporation has a 1 year low of $31.53 and a 1 year high of $58.66. The stock has a market cap of $3.62 billion, a PE ratio of 20.60, a P/E/G ratio of 5.34 and a beta of 1.66. The stock has a fifty day moving average price of $52.01 and a 200 day moving average price of $47.16. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.11 and a current ratio of 2.08.

Terex (NYSE:TEX) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.05. Terex had a return on equity of 15.95% and a net margin of 3.46%.The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the firm posted $2.16 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. Sell-side analysts forecast that Terex Corporation will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Monday, November 10th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, November 10th. Terex’s payout ratio is 25.37%.

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.