Front Street Capital Management Inc. acquired a new position in shares of Terex Corporation (NYSE:TEX – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 186,279 shares of the industrial products company’s stock, valued at approximately $13,485,000. Terex comprises about 1.5% of Front Street Capital Management Inc.’s investment portfolio, making the stock its 24th largest holding. Front Street Capital Management Inc. owned approximately 0.16% of Terex at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC boosted its position in shares of Terex by 1,086.3% in the first 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 period. Jones Financial Companies Lllp raised its stake in Terex by 427.2% during the 1st quarter. Jones Financial Companies Lllp now owns 3,506 shares of the industrial products company’s stock valued at $132,000 after purchasing an additional 2,841 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Terex by 3.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,092,189 shares of the industrial products company’s stock valued at $41,263,000 after purchasing an additional 40,077 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Terex by 0.8% in the 1st 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 purchasing an additional 1,597 shares during the period. Finally, Intech Investment Management LLC boosted its holdings in Terex by 47.4% in the 1st quarter. Intech Investment Management LLC now owns 45,501 shares of the industrial products company’s stock valued at $1,719,000 after purchasing an additional 14,629 shares during the period. Institutional investors own 92.88% of the company’s stock.
Terex Price Performance
Shares of TEX stock opened at $65.90 on Tuesday. The stock’s fifty day simple moving average is $66.95 and its 200 day simple moving average is $63.86. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.82 and a quick ratio of 0.93. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of 33.62, a P/E/G ratio of 1.01 and a beta of 1.51. Terex Corporation has a one year low of $41.70 and a one year high of $74.69.
Terex Dividend Announcement
The company also recently declared 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. The ex-dividend date is Tuesday, August 11th. This represents a $0.68 dividend on an annualized basis and a yield of 1.0%. Terex’s payout ratio is 34.69%.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Terex from $80.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Wall Street Zen upgraded Terex from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Terex in a report on Friday, July 17th. Truist Financial upped their target price on Terex from $92.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Barclays raised their target price on Terex from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.91.
Read Our Latest Stock Report on Terex
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.
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