GSA Capital Partners LLP Makes New $892,000 Investment in Terex Corporation (NYSE:TEX)

Key Points

• GSA Capital Partners LLP acquired 23,622 shares of Terex Corporation valued at approximately $892,000 in the first quarter of 2023.
• The stock has received mixed analyst ratings, with upgrades from firms like Goldman Sachs, raising its target price to $60.00, while others like Morgan Stanley reduced their target to $30.00.
• Terex recently announced a quarterly dividend of $0.17 per share, which represents an annualized dividend yield of 1.3%.

GSA Capital Partners LLP acquired a new stake in Terex Corporation (NYSE:TEX - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 23,622 shares of the industrial products company's stock, valued at approximately $892,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TEX. KLP Kapitalforvaltning AS bought a new stake in Terex in the fourth quarter valued at approximately $610,000. Norges Bank purchased a new position in shares of Terex during the fourth quarter valued at approximately $35,001,000. Orion Portfolio Solutions LLC increased its stake in shares of Terex by 107.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 8,509 shares of the industrial products company's stock valued at $393,000 after buying an additional 4,400 shares during the period. Clearbridge Investments LLC increased its stake in shares of Terex by 20.9% during the fourth quarter. Clearbridge Investments LLC now owns 369,055 shares of the industrial products company's stock valued at $17,058,000 after buying an additional 63,854 shares during the period. Finally, Foundry Partners LLC increased its stake in shares of Terex by 34.8% during the fourth quarter. Foundry Partners LLC now owns 98,909 shares of the industrial products company's stock valued at $4,572,000 after buying an additional 25,556 shares during the period. Institutional investors own 92.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Evercore ISI boosted their target price on Terex from $59.00 to $62.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. boosted their target price on Terex from $43.00 to $50.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Morgan Stanley reduced their target price on Terex from $43.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. UBS Group upped their price target on Terex from $48.00 to $52.00 and gave the stock a "neutral" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen raised Terex from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $51.44.

Terex Stock Down 3.8%

Terex stock traded down $1.94 during mid-day trading on Friday, hitting $48.92. The company had a trading volume of 1,479,762 shares, compared to its average volume of 841,231. The company has a current ratio of 2.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.31. The stock's 50 day moving average price is $48.25 and its two-hundred day moving average price is $43.77. Terex Corporation has a 12 month low of $31.53 and a 12 month high of $58.66. The company has a market capitalization of $3.24 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 4.99 and a beta of 1.62.

Terex (NYSE:TEX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.05. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.46 billion. Terex had a return on equity of 15.95% and a net margin of 3.46%. The company's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.16 earnings per share. As a group, sell-side analysts anticipate that Terex Corporation will post 4.83 earnings per share for the current fiscal year.

Terex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors 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 1.4%. The ex-dividend date of this dividend is Monday, August 11th. Terex's dividend payout ratio (DPR) is 18.53%.

Insider Transactions at Terex

In other Terex news, insider Joshua Gross sold 5,389 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $40.75, for a total transaction of $219,601.75. Following the completion of the transaction, the insider owned 38,755 shares in the company, valued at $1,579,266.25. This trade represents a 12.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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.