31,824 Shares in Terex Corporation $TEX Purchased by Concentric Capital Strategies LP

Key Points

• Concentric Capital Strategies LP acquired a new stake in Terex Corporation (NYSE:TEX) by purchasing 31,824 shares worth approximately $1.2 million.
• Terex recently reported earnings per share (EPS) of $1.49, exceeding analysts' expectations, and announced a quarterly dividend of $0.17 per share.
• The stock currently holds a Moderate Buy consensus rating, with an average target price of $52.22 following several upgrades from analysts.

Concentric Capital Strategies LP purchased a new stake in shares of Terex Corporation (NYSE:TEX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 31,824 shares of the industrial products company's stock, valued at approximately $1,202,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in Terex by 192.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,652 shares of the industrial products company's stock worth $169,000 after acquiring an additional 2,403 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Terex by 9.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,321 shares of the industrial products company's stock worth $2,511,000 after acquiring an additional 4,768 shares in the last quarter. Northern Trust Corp boosted its stake in Terex by 10.5% in the 4th quarter. Northern Trust Corp now owns 893,614 shares of the industrial products company's stock worth $41,303,000 after purchasing an additional 85,094 shares during the period. Comerica Bank boosted its stake in Terex by 19.4% in the 4th quarter. Comerica Bank now owns 36,350 shares of the industrial products company's stock worth $1,680,000 after purchasing an additional 5,900 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in Terex by 44.6% in the 4th quarter. BNP Paribas Financial Markets now owns 32,971 shares of the industrial products company's stock worth $1,524,000 after purchasing an additional 10,163 shares during the period. Hedge funds and other institutional investors own 92.88% of the company's stock.

Terex Stock Down 0.7%

TEX stock traded down $0.37 during trading on Monday, reaching $52.60. 721,882 shares of the company traded hands, compared to its average volume of 932,576. Terex Corporation has a 12 month low of $31.53 and a 12 month high of $58.66. The business has a 50 day simple moving average of $50.38 and a 200 day simple moving average of $44.35. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 5.34 and a beta of 1.65. 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 issued its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.05. Terex had a return on equity of 15.95% and a net margin of 3.46%.The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company earned $2.16 earnings per share. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. On average, equities research analysts anticipate that Terex Corporation will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Monday, August 11th will be issued a $0.17 dividend. 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 dividend payout ratio (DPR) is currently 25.37%.

Wall Street Analyst Weigh In

TEX has been the subject of several recent analyst reports. Baird R W upgraded Terex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Evercore ISI increased their target price on Terex from $59.00 to $62.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. UBS Group increased their price target on Terex from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. increased their price target on Terex from $43.00 to $50.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Finally, Robert W. Baird upgraded Terex from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $48.00 to $66.00 in a research note on Tuesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Terex currently has an average rating of "Moderate Buy" and a consensus price target of $52.22.

Insiders Place Their Bets

In other Terex news, VP Scott Posner sold 5,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $50.50, for a total value of $252,500.00. Following the completion of the sale, the vice president owned 70,308 shares of the company's stock, valued at approximately $3,550,554. This trade represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company's stock.

Terex Company 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.