Castleark Management LLC acquired a new stake in shares of Terex Corporation (NYSE:TEX – Free Report) in the second quarter, HoldingsChannel reports. The firm acquired 79,900 shares of the industrial products company’s stock, valued at approximately $5,784,000.
A number of other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc bought a new position in Terex during the second quarter valued at approximately $11,773,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Terex during the 2nd quarter worth approximately $7,328,000. Front Street Capital Management Inc. purchased a new stake in shares of Terex during the 2nd quarter worth approximately $13,485,000. Cullen Capital Management LLC bought a new position in shares of Terex during the 2nd quarter valued at approximately $210,000. Finally, Algert Global LLC grew its holdings in shares of Terex by 107.3% in the second quarter. Algert Global LLC now owns 105,411 shares of the industrial products company’s stock valued at $7,631,000 after purchasing an additional 54,570 shares in the last quarter. 92.88% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on TEX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Terex in a research note on Friday, July 17th. DA Davidson started coverage on shares of Terex in a research report on Wednesday, June 24th. They set a “strong-buy” rating and a $81.00 target price on the stock. Truist Financial lifted their price target on Terex from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Evercore restated an “outperform” rating and set a $81.00 price objective on shares of Terex in a research report on Monday, May 11th. Finally, Barclays lifted their target price on Terex from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.91.
Terex Stock Performance
TEX stock opened at $65.41 on Wednesday. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 1.00 and a beta of 1.51. Terex Corporation has a twelve month low of $41.70 and a twelve month high of $74.69. The company has a quick ratio of 0.93, a current ratio of 1.82 and a debt-to-equity ratio of 0.54. The business’s fifty day simple moving average is $66.96 and its two-hundred day simple moving average is $63.87.
Terex (NYSE:TEX – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The industrial products company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.14. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Terex had a net margin of 2.23% and a return on equity of 12.24%. The business’s revenue for the quarter was up 50.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.49 earnings per share. Terex has set its FY 2026 guidance at 4.700-5.100 EPS. Analysts predict that Terex Corporation will post 4.99 earnings per share for the current year.
Terex Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, August 11th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, August 11th. Terex’s payout ratio is 34.69%.
Terex 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.
Read More
- Five stocks we like better than Terex
- Pathward’s Credit Scare Tests Its Comeback Story
- Wiring the AI Boom: Rumble’s $13.7B Pivot
- StoneX: Too Far Too Fast?
- DICK’s Sporting Goods Faces Pain Now for a Bigger Prize
Want to see what other hedge funds are holding TEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Terex Corporation (NYSE:TEX – Free Report).
Receive News & Ratings for Terex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex and related companies with MarketBeat.com's FREE daily email newsletter.
