Natixis Advisors LLC Takes Position in Terex Corporation (NYSE:TEX)

Key Points

• Natixis Advisors LLC purchased 11,925 shares of Terex Corporation (NYSE:TEX) for approximately $451,000 during Q1, highlighting increasing interest from institutional investors.
• Multiple analysts have adjusted their ratings and price targets for Terex, with JPMorgan Chase raising its target from $43.00 to $50.00 and Goldman Sachs upgrading it from "neutral" to "buy" with a new target of $60.00.
• Terex has declared a quarterly dividend of $0.17 per share, payable on September 19th, representing an annualized yield of 1.4% and indicating a healthy payout ratio of 25.37%.

Natixis Advisors LLC acquired a new position in shares of Terex Corporation (NYSE:TEX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,925 shares of the industrial products company's stock, valued at approximately $451,000.

Several other hedge funds have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC acquired a new position in Terex in the fourth quarter valued at $59,179,000. Fuller & Thaler Asset Management Inc. boosted its holdings in Terex by 94.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,150,673 shares of the industrial products company's stock valued at $99,404,000 after acquiring an additional 1,046,600 shares during the last quarter. First Trust Advisors LP boosted its holdings in Terex by 43.2% in the fourth quarter. First Trust Advisors LP now owns 1,930,923 shares of the industrial products company's stock valued at $89,247,000 after acquiring an additional 582,819 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in Terex by 66.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 352,780 shares of the industrial products company's stock valued at $16,305,000 after acquiring an additional 141,352 shares during the last quarter. Finally, Paradoxiom Capital L.P. acquired a new position in Terex in the fourth quarter valued at $5,862,000. Institutional investors and hedge funds own 92.88% of the company's stock.

Terex Price Performance

Shares of NYSE TEX traded down $1.21 during trading on Friday, hitting $50.57. The company had a trading volume of 338,625 shares, compared to its average volume of 952,150. The company has a market cap of $3.32 billion, a P/E ratio of 18.87, a PEG ratio of 5.31 and a beta of 1.62. Terex Corporation has a 52 week low of $31.53 and a 52 week high of $58.66. The business's 50-day moving average is $49.01 and its 200 day moving average is $43.90. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.05. The company had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.46 billion. Terex had a return on equity of 15.95% and a net margin of 3.46%. The firm's revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.16 earnings per share. Equities research analysts predict that Terex Corporation will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, August 11th. Terex's payout ratio is 25.37%.

Insider Transactions at Terex

In other Terex news, VP Scott Posner sold 5,000 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $50.50, for a total transaction of $252,500.00. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TEX has been the topic of a number of research analyst reports. Baird R W upgraded Terex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Truist Financial set a $62.00 target price on Terex in a report on Monday, August 4th. Evercore ISI lifted their target price on Terex from $59.00 to $62.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Wall Street Zen raised Terex from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. boosted their target price on Terex from $43.00 to $50.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.22.

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.