New York State Teachers Retirement System Has $3.35 Million Stock Holdings in Terex Corporation $TEX

Key Points

• The New York State Teachers Retirement System has reduced its holdings in Terex Corporation by 12.1%, owning 71,681 shares worth approximately $3.35 million as of the latest filing.
• Terex recently declared a quarterly dividend of $0.17 per share, which will be paid on December 19th, representing an annual yield of 1.2%.
• In response to recent analyst reports, Terex's stock has seen a range of target price adjustments, with Citigroup raising its target from $55.00 to $58.00 and maintaining a "neutral" rating.

New York State Teachers Retirement System trimmed its holdings in shares of Terex Corporation (NYSE:TEX - Free Report) by 12.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,681 shares of the industrial products company's stock after selling 9,830 shares during the period. New York State Teachers Retirement System owned about 0.11% of Terex worth $3,347,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Cascade Investment Advisors Inc. boosted its stake in shares of Terex by 2.0% during the 2nd quarter. Cascade Investment Advisors Inc. now owns 24,730 shares of the industrial products company's stock worth $1,155,000 after buying an additional 475 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Terex during the 2nd quarter worth about $226,000. Blue Trust Inc. boosted its stake in shares of Terex by 24.0% during the 2nd quarter. Blue Trust Inc. now owns 1,870 shares of the industrial products company's stock worth $87,000 after buying an additional 362 shares during the last quarter. Callan Family Office LLC acquired a new position in shares of Terex during the 2nd quarter worth about $281,000. Finally, QRG Capital Management Inc. lifted its stake in Terex by 6.6% in the 2nd quarter. QRG Capital Management Inc. now owns 5,954 shares of the industrial products company's stock valued at $278,000 after purchasing an additional 368 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Terex

In other news, VP Scott Posner sold 5,000 shares of the firm'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 transaction, the vice president directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

TEX has been the subject of several recent analyst reports. Citigroup raised their target price on shares of Terex from $55.00 to $58.00 and gave the company a "neutral" rating in a research note on Tuesday, September 23rd. Wall Street Zen upgraded shares of Terex from a "hold" rating to a "buy" rating in a research note on Sunday. Weiss Ratings reiterated a "hold (c)" rating on shares of Terex in a research note on Wednesday, October 8th. UBS Group raised their target price on shares of Terex from $48.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday, July 10th. Finally, Truist Financial set a $62.00 target price on shares of Terex in a research note on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $54.67.

Terex Stock Up 4.1%

Terex stock opened at $55.20 on Tuesday. The stock has a market cap of $3.62 billion, a P/E ratio of 20.60, a P/E/G ratio of 5.34 and a beta of 1.66. The company has a quick ratio of 1.11, a current ratio of 2.08 and a debt-to-equity ratio of 1.31. Terex Corporation has a twelve month low of $31.53 and a twelve month high of $58.66. The company's 50-day moving average price is $52.01 and its two-hundred day moving average price is $47.16.

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

Terex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Monday, November 10th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, November 10th. Terex's dividend 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.

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