GSA Capital Partners LLP Takes $892,000 Position 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 position in shares of Terex Corporation (NYSE:TEX - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,622 shares of the industrial products company's stock, valued at approximately $892,000.

Several other institutional investors and hedge funds have also modified their holdings of TEX. KLP Kapitalforvaltning AS acquired a new position in Terex during the 4th quarter valued at about $610,000. Norges Bank purchased a new position in shares of Terex during the 4th quarter valued at $35,001,000. Orion Portfolio Solutions LLC raised its stake in Terex by 107.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 8,509 shares of the industrial products company's stock valued at $393,000 after purchasing an additional 4,400 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Terex by 20.9% in the 4th quarter. Clearbridge Investments LLC now owns 369,055 shares of the industrial products company's stock worth $17,058,000 after purchasing an additional 63,854 shares in the last quarter. Finally, Foundry Partners LLC lifted its holdings in shares of Terex by 34.8% in the 4th quarter. Foundry Partners LLC now owns 98,909 shares of the industrial products company's stock worth $4,572,000 after acquiring an additional 25,556 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors.

Terex Trading Up 0.2%

Shares of TEX stock traded up $0.11 during trading hours on Tuesday, reaching $49.58. 270,707 shares of the stock traded hands, compared to its average volume of 967,638. Terex Corporation has a 1-year low of $31.53 and a 1-year high of $58.66. The business has a fifty day moving average price of $48.35 and a 200 day moving average price of $43.76. The company has a quick ratio of 1.11, a current ratio of 2.08 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $3.25 billion, a PE ratio of 18.52, a PEG ratio of 4.82 and a beta of 1.62.

Terex (NYSE:TEX - Get Free Report) last issued 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 firm had revenue of $1.49 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company posted $2.16 earnings per share. On average, equities research analysts forecast that Terex Corporation will post 4.83 EPS for the current year.

Terex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Monday, August 11th will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. Terex's payout ratio is currently 25.37%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Truist Financial increased their price target on shares of Terex from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. UBS Group boosted their target price on shares of Terex from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Thursday, July 10th. Morgan Stanley dropped their price target on Terex from $43.00 to $30.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Evercore ISI upped their price objective on Terex from $59.00 to $62.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Finally, Baird R W upgraded Terex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Terex currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.44.

Terex Profile

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.