Assenagon Asset Management S.A. Purchases New Stake in Terex Corporation $TEX

Key Points

• Assenagon Asset Management acquired 90,669 Terex shares worth approximately $4.77 million, while institutional investors collectively own 92.88% of the company.
• Analysts maintain a generally positive outlook, with Terex holding a consensus “Moderate Buy” rating and an average price target of $75.64, despite recent target-price reductions.
• Terex exceeded quarterly earnings and revenue expectations, reporting $1.37 in EPS and $2.24 billion in revenue. The company also declared a quarterly dividend of $0.17 per share, yielding approximately 1.3% annually.

Assenagon Asset Management S.A. bought a new position in shares of Terex Corporation (NYSE:TEX - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 90,669 shares of the industrial products company's stock, valued at approximately $4,769,000. Assenagon Asset Management S.A. owned approximately 0.08% of Terex as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Terex by 10.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,536 shares of the industrial products company's stock valued at $133,000 after buying an additional 246 shares in the last quarter. Moody National Bank Trust Division grew its holdings in Terex by 11.3% during the 3rd quarter. Moody National Bank Trust Division now owns 30,994 shares of the industrial products company's stock valued at $1,630,000 after buying an additional 3,144 shares during the last quarter. QRG Capital Management Inc. increased its position in Terex by 2.7% during the second quarter. QRG Capital Management Inc. now owns 7,847 shares of the industrial products company's stock worth $568,000 after buying an additional 208 shares in the last quarter. Baird Financial Group Inc. increased its position in Terex by 6.5% during the second quarter. Baird Financial Group Inc. now owns 61,214 shares of the industrial products company's stock worth $4,431,000 after buying an additional 3,718 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Terex by 0.7% during the second quarter. Arizona State Retirement System now owns 31,373 shares of the industrial products company's stock worth $2,271,000 after buying an additional 210 shares in the last quarter. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TEX has been the topic of a number of recent research reports. Citigroup reduced their target price on shares of Terex from $80.00 to $65.00 and set a "buy" rating on the stock in a report on Monday, October 12th. Truist Financial decreased their price target on shares of Terex from $96.00 to $85.00 and set a "buy" rating on the stock in a research note on Monday, October 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of Terex in a report on Thursday, October 15th. Morgan Stanley reissued an "overweight" rating and issued a $86.00 price objective on shares of Terex in a research report on Monday, August 3rd. Finally, Wall Street Zen lowered shares of Terex from a "buy" rating to a "hold" rating in a research report on Saturday, October 10th. 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $75.64.

Terex Stock Performance

NYSE:TEX opened at $52.54 on Wednesday. The company has a market cap of $6.00 billion, a P/E ratio of 26.80, a P/E/G ratio of 0.93 and a beta of 1.47. The company has a quick ratio of 0.93, a current ratio of 1.82 and a debt-to-equity ratio of 0.54. The firm's 50 day moving average is $59.28 and its two-hundred day moving average is $62.21. Terex Corporation has a fifty-two week low of $41.70 and a fifty-two week high of $74.69.

Terex (NYSE:TEX - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The industrial products company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.23 by $0.14. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.14 billion. Terex had a return on equity of 12.24% and a net margin of 2.23%. The firm's revenue was up 50.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.49 earnings per share. Terex has set its FY 2026 guidance at 4.700-5.100 EPS. Analysts expect that Terex Corporation will post 4.98 EPS for the current year.

Terex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Monday, November 9th will be issued a $0.17 dividend. The ex-dividend date is Monday, November 9th. This represents a $0.68 annualized dividend and a yield of 1.3%. Terex's dividend payout ratio (DPR) is presently 34.69%.

Terex Profile

Terex Corporation NYSE: TEX is a global manufacturer of equipment used in construction, infrastructure development, utilities, recycling and material processing. The company designs and produces machinery intended to help customers build, maintain and improve transportation networks, commercial sites, utility systems and industrial facilities.

Terex operates primarily through its Aerial Work Platforms and Materials Processing businesses. Its products include aerial lifts, telehandlers and other access equipment, as well as crushing, screening, conveying, washing, recycling and environmental-processing machinery.

Want to see what other hedge funds are holding TEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Terex Corporation (NYSE:TEX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.