Hsbc Holdings PLC Acquires New Holdings in Terex Corporation $TEX

Key Points

• HSBC Holdings PLC acquired 5,772 shares of Terex Corporation valued at approximately $217,000 during the 1st quarter, as disclosed in a recent SEC filing.
• Terex's recent earnings report showed an EPS of $1.49, exceeding analysts' expectations and indicating a 7.6% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.17 per share, reflecting an annualized payout of $0.68 and a dividend yield of 1.3%.

Hsbc Holdings PLC purchased a new stake in shares of Terex Corporation (NYSE:TEX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,772 shares of the industrial products company's stock, valued at approximately $217,000.

A number of other large investors also recently made changes to their positions in TEX. Wealth Enhancement Advisory Services LLC bought a new position in shares of Terex during the fourth quarter valued at about $59,179,000. Fuller & Thaler Asset Management Inc. lifted its position in shares of Terex by 8.8% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,338,868 shares of the industrial products company's stock valued at $88,362,000 after purchasing an additional 188,195 shares in the last quarter. Nuveen LLC bought a new position in shares of Terex during the first quarter valued at about $6,985,000. Paradoxiom Capital L.P. bought a new position in shares of Terex during the fourth quarter valued at about $5,862,000. Finally, Victory Capital Management Inc. lifted its position in shares of Terex by 14.0% during the first quarter. Victory Capital Management Inc. now owns 848,839 shares of the industrial products company's stock valued at $32,069,000 after purchasing an additional 104,554 shares in the last quarter. 92.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TEX has been the topic of several research reports. UBS Group lifted their price objective on shares of Terex from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. lifted their price objective on shares of Terex from $43.00 to $50.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. Truist Financial set a $62.00 price objective on shares of Terex in a research report on Monday, August 4th. Evercore ISI lifted their price objective on shares of Terex from $59.00 to $62.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Finally, Wall Street Zen raised shares of Terex from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.22.

Insider Buying and Selling

In related news, VP Scott Posner sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $50.50, for a total transaction of $252,500.00. Following the completion of the transaction, the vice president owned 70,308 shares of the company's stock, valued at approximately $3,550,554. The trade was a 6.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.90% of the company's stock.

Terex Stock Performance

Shares of TEX traded down $0.37 during trading hours on Monday, hitting $52.60. The company's stock had a trading volume of 721,882 shares, compared to its average volume of 649,673. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 5.34 and a beta of 1.65. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.08 and a quick ratio of 1.11. The business has a 50 day simple moving average of $50.49 and a two-hundred day simple moving average of $44.42. Terex Corporation has a 52-week low of $31.53 and a 52-week high of $58.66.

Terex (NYSE:TEX - Get Free Report) last posted its earnings results on Thursday, July 31st. The industrial products company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.05. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. Terex had a net margin of 3.46% and a return on equity of 15.95%. The company's revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $2.16 earnings per share. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. On average, equities analysts expect that Terex Corporation will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.68 annualized dividend and a yield of 1.3%. Terex's payout ratio is currently 25.37%.

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.