Jefferies Financial Group Inc. Takes Position in Terex Corporation (NYSE:TEX)

Key Points

• Jefferies Financial Group Inc. has made a new investment in Terex Corporation, acquiring 5,652 shares valued at approximately $214,000 during the first quarter.
• Other institutional investors have significantly increased their stakes in Terex, with Fifth Third Bancorp raising its investment by 88.1%, and a reported 92.88% of the stock now owned by institutional investors.
• Terex recently announced a quarterly dividend of $0.17 per share, which corresponds to an annualized yield of 1.4% and a payout ratio of 25.37%.

Jefferies Financial Group Inc. purchased a new stake in Terex Corporation (NYSE:TEX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,652 shares of the industrial products company's stock, valued at approximately $214,000.

Other hedge funds have also made changes to their positions in the company. Neo Ivy Capital Management purchased a new stake in shares of Terex in the 4th quarter valued at approximately $29,000. UMB Bank n.a. lifted its position in shares of Terex by 83.0% in the 1st quarter. UMB Bank n.a. now owns 732 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 332 shares in the last quarter. Private Trust Co. NA lifted its position in shares of Terex by 128.0% in the 1st quarter. Private Trust Co. NA now owns 773 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 434 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Terex by 56.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 847 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 307 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Terex by 88.1% in the 1st quarter. Fifth Third Bancorp now owns 905 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 424 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Baird R W upgraded shares of Terex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. The Goldman Sachs Group upgraded shares of Terex from a "neutral" rating to a "buy" rating and increased their target price for the stock from $45.00 to $60.00 in a research report on Tuesday, May 27th. JPMorgan Chase & Co. increased their price target on shares of Terex from $43.00 to $50.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Truist Financial set a $62.00 price target on shares of Terex in a research note on Monday, August 4th. Finally, Wall Street Zen upgraded shares of Terex from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $52.22.

Terex Price Performance

Shares of NYSE TEX traded up $2.13 during trading on Tuesday, reaching $50.63. The company had a trading volume of 557,597 shares, compared to its average volume of 959,824. Terex Corporation has a 52 week low of $31.53 and a 52 week high of $58.66. The stock has a market cap of $3.32 billion, a PE ratio of 18.89, a PEG ratio of 4.90 and a beta of 1.62. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.11 and a current ratio of 2.08. The business's 50 day moving average price is $48.66 and its 200-day moving average price is $43.77.

Terex (NYSE:TEX - Get Free Report) last announced its earnings results on Thursday, July 31st. The industrial products company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.05. Terex had a net margin of 3.46% and a return on equity of 15.95%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the firm posted $2.16 earnings per share. The company's revenue was up 7.6% on a year-over-year basis. Analysts expect that Terex Corporation will post 4.83 earnings per share for the current year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Monday, August 11th will be paid 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 1.3%. Terex's payout ratio is currently 25.37%.

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.