Magnetar Financial LLC Buys 11,563 Shares of Terex Corporation $TEX

Key Points

• Magnetar Financial LLC increased its stake in Terex Corporation by 77.4% during the first quarter, owning 26,498 shares valued at approximately $1 million by the end of the reporting period.
• Several hedge funds, including Tower Research Capital and Price T Rowe Associates, have recently boosted their stakes in Terex, indicating strong interest from institutional investors who collectively hold 92.88% of the company's stock.
• Wall Street analysts have upgraded Terex's stock ratings, with a consensus target price of $52.22, reflecting optimism about future performance following better-than-expected quarterly earnings results.

Magnetar Financial LLC lifted its holdings in shares of Terex Corporation (NYSE:TEX - Free Report) by 77.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,498 shares of the industrial products company's stock after purchasing an additional 11,563 shares during the quarter. Magnetar Financial LLC's holdings in Terex were worth $1,001,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TEX. Fifth Third Bancorp increased its holdings in Terex by 88.1% during the 1st quarter. Fifth Third Bancorp now owns 905 shares of the industrial products company's stock worth $34,000 after purchasing an additional 424 shares in the last quarter. Private Trust Co. NA boosted its position in shares of Terex by 128.0% during the first quarter. Private Trust Co. NA now owns 773 shares of the industrial products company's stock worth $29,000 after buying an additional 434 shares during the period. Principal Financial Group Inc. raised its position in Terex by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 227,876 shares of the industrial products company's stock valued at $8,609,000 after buying an additional 3,525 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Terex by 65.3% during the 1st quarter. GAMMA Investing LLC now owns 1,309 shares of the industrial products company's stock worth $49,000 after acquiring an additional 517 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of Terex in the fourth quarter valued at approximately $141,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Scott Posner sold 5,000 shares of the company's stock in a transaction 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 directly owned 70,308 shares in the company, valued at approximately $3,550,554. This represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

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

Terex Stock Performance

Shares of NYSE TEX traded up $2.18 during trading hours on Thursday, reaching $51.45. 425,469 shares of the stock were exchanged, compared to its average volume of 931,369. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 19.20, a P/E/G ratio of 5.03 and a beta of 1.65. The stock's fifty day simple moving average is $50.19 and its 200 day simple moving average is $44.30. 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 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 quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the firm posted $2.16 EPS. The business'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. Sell-side analysts predict that Terex Corporation will post 4.83 EPS for the current year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Monday, August 11th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, August 11th. Terex's payout ratio is currently 25.37%.

About Terex

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.