State of New Jersey Common Pension Fund D Lowers Position in Terex Corporation $TEX

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Terex Corporation (NYSE:TEX) by 11.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,087 shares of the industrial products company’s stock after selling 5,072 shares during the period. State of New Jersey Common Pension Fund D owned about 0.06% of Terex worth $1,918,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TEX. Private Trust Co. NA increased its holdings in Terex by 128.0% in the 1st quarter. Private Trust Co. NA now owns 773 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 434 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Terex by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 227,876 shares of the industrial products company’s stock worth $8,609,000 after acquiring an additional 3,525 shares during the last quarter. GAMMA Investing LLC increased its holdings in Terex by 65.3% in the 1st quarter. GAMMA Investing LLC now owns 1,309 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 517 shares during the last quarter. QRG Capital Management Inc. increased its holdings in Terex by 6.6% in the 2nd quarter. QRG Capital Management Inc. now owns 5,954 shares of the industrial products company’s stock worth $278,000 after acquiring an additional 368 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in Terex by 37.5% in the 2nd quarter. Nordea Investment Management AB now owns 149,487 shares of the industrial products company’s stock worth $7,021,000 after acquiring an additional 40,754 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TEX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Terex in a report on Wednesday, October 8th. Citigroup lifted their price target on Terex from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. UBS Group lifted their price target on Terex from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, July 10th. Wall Street Zen upgraded Terex from a “hold” rating to a “buy” rating in a research report on Sunday, October 19th. Finally, Truist Financial set a $62.00 price target on Terex in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $56.20.

Terex Trading Down 2.2%

NYSE TEX opened at $46.15 on Friday. Terex Corporation has a 12 month low of $31.53 and a 12 month high of $58.66. The stock has a market cap of $3.03 billion, a P/E ratio of 17.22, a P/E/G ratio of 5.69 and a beta of 1.66. The stock’s fifty day moving average price is $52.61 and its 200-day moving average price is $48.29. The company has a current ratio of 2.08, a quick ratio of 1.11 and a debt-to-equity ratio of 1.31.

Terex (NYSE:TEX) last released its quarterly earnings data on Thursday, October 30th. The industrial products company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.22 by $0.28. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Terex had a return on equity of 15.95% and a net margin of 3.46%.Terex’s revenue was up 14.4% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. As a group, equities analysts forecast that Terex Corporation will post 4.83 EPS for the current fiscal year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Monday, November 10th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, November 10th. Terex’s dividend payout ratio (DPR) is 28.94%.

Insider Transactions at Terex

In related news, VP Scott Posner sold 5,000 shares of Terex stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $50.50, for a total transaction of $252,500.00. Following the sale, the vice president owned 70,308 shares of the company’s stock, valued at approximately $3,550,554. This trade represents a 6.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.90% of the company’s stock.

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.