Arrowstreet Capital Limited Partnership Raises Position in Terex Corporation $TEX

Key Points

• Arrowstreet Capital sharply increased its Terex stake by 11,448.5% in the first quarter, owning 1.24 million shares valued at approximately $73.2 million. Institutional investors collectively hold 92.88% of Terex.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $79.45; Truist raised its target to $92.
• Terex reported quarterly EPS of $0.98, surpassing estimates of $0.78, while revenue rose 41.1% year over year to $1.73 billion. The company also declared a quarterly dividend of $0.17 per share, equivalent to a 1.0% annual yield.

Arrowstreet Capital Limited Partnership grew its holdings in shares of Terex Corporation (NYSE:TEX - Free Report) by 11,448.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,238,924 shares of the industrial products company's stock after acquiring an additional 1,228,196 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.08% of Terex worth $73,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of TEX. EverSource Wealth Advisors LLC lifted its position in shares of Terex by 167.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 590 shares of the industrial products company's stock valued at $28,000 after buying an additional 369 shares in the last quarter. Strs Ohio purchased a new stake in Terex in the 1st quarter worth approximately $30,000. Cassaday & Co Wealth Management LLC purchased a new stake in Terex in the 1st quarter worth approximately $47,000. Capital Advisors Ltd. LLC raised its stake in Terex by 856.2% during the 1st quarter. Capital Advisors Ltd. LLC now owns 851 shares of the industrial products company's stock worth $50,000 after acquiring an additional 762 shares during the period. Finally, UMB Bank n.a. raised its stake in Terex by 15.0% during the 4th quarter. UMB Bank n.a. now owns 1,451 shares of the industrial products company's stock worth $77,000 after acquiring an additional 189 shares during the period. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial upped their price target on shares of Terex from $82.00 to $92.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. DA Davidson began coverage on shares of Terex in a research note on Wednesday, June 24th. They set a "strong-buy" rating and a $81.00 target price on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $84.00 price target on shares of Terex in a research note on Wednesday, May 6th. Zacks Research raised Terex from a "strong sell" rating to a "hold" rating in a report on Monday, April 13th. Finally, Evercore restated an "outperform" rating and issued a $81.00 price objective on shares of Terex in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $79.45.

Terex Stock Performance

NYSE:TEX opened at $69.73 on Monday. The company has a market cap of $7.96 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 1.09 and a beta of 1.49. Terex Corporation has a 1 year low of $41.70 and a 1 year high of $74.69. The stock's 50 day simple moving average is $64.48 and its two-hundred day simple moving average is $62.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.84 and a quick ratio of 0.88.

Terex (NYSE:TEX - Get Free Report) last posted its earnings results on Friday, May 1st. The industrial products company reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.20. Terex had a return on equity of 13.43% and a net margin of 1.87%.The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the company earned $0.83 EPS. The company's quarterly revenue was up 41.1% compared to the same quarter last year. Terex has set its FY 2026 guidance at 4.500-5.000 EPS. As a group, equities analysts anticipate that Terex Corporation will post 4.85 earnings per share for the current fiscal year.

Terex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, August 11th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.68 dividend on an annualized basis and a yield of 1.0%. Terex's dividend payout ratio is presently 32.54%.

Insider Buying and Selling

In other Terex news, insider Joshua Gross sold 5,874 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $61.53, for a total transaction of $361,427.22. Following the completion of the transaction, the insider owned 48,706 shares in the company, valued at $2,996,880.18. This trade represents a 10.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by company insiders.

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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