Nuveen LLC Acquires Shares of 184,898 Terex Corporation $TEX

Key Points

• Nuveen LLC acquired a new stake in Terex Corporation, purchasing 184,898 shares valued at approximately $6.985 million, representing 0.28% ownership of the company.
• Several analysts have recently raised their price targets for Terex, with Evercore ISI setting a target of $62.00 and JPMorgan Chase & Co. adjusting theirs to $50.00, reflecting positive sentiment towards the company's growth potential.
• Terex announced a quarterly dividend of $0.17 per share, which will be paid to stockholders on September 19th, indicating a commitment to returning value to investors amidst a market cap of $3.38 billion.

Nuveen LLC bought a new position in shares of Terex Corporation (NYSE:TEX - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 184,898 shares of the industrial products company's stock, valued at approximately $6,985,000. Nuveen LLC owned 0.28% of Terex at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TEX. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Terex in the 4th quarter valued at about $59,179,000. Balyasny Asset Management L.P. lifted its stake in shares of Terex by 66.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 352,780 shares of the industrial products company's stock valued at $16,305,000 after purchasing an additional 141,352 shares during the period. Paradoxiom Capital L.P. acquired a new position in shares of Terex in the 4th quarter valued at about $5,862,000. Victory Capital Management Inc. raised its stake in Terex by 14.0% during the 1st quarter. Victory Capital Management Inc. now owns 848,839 shares of the industrial products company's stock worth $32,069,000 after buying an additional 104,554 shares during the period. Finally, Northern Trust Corp raised its stake in Terex by 10.5% during the 4th quarter. Northern Trust Corp now owns 893,614 shares of the industrial products company's stock worth $41,303,000 after buying an additional 85,094 shares during the period. 92.88% of the stock is owned by institutional investors and hedge funds.

Terex Stock Performance

Shares of Terex stock traded down $2.35 during trading hours on Friday, reaching $49.79. The company had a trading volume of 848,259 shares, compared to its average volume of 933,412. The firm has a market cap of $3.27 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 5.30 and a beta of 1.62. Terex Corporation has a one year low of $31.53 and a one year high of $58.66. The business has a fifty day simple moving average of $49.87 and a 200 day simple moving average of $44.17. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.08 and a quick ratio of 1.11.

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 analysts' consensus estimates of $1.44 by $0.05. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.46 billion. Terex had a return on equity of 15.95% and a net margin of 3.46%.The company's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted $2.16 earnings per share. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. On average, analysts anticipate that Terex Corporation will post 4.83 earnings per share for the current fiscal year.

Terex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors 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 annualized dividend and a dividend yield of 1.4%. Terex's dividend payout ratio (DPR) is presently 25.37%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TEX. Robert W. Baird raised Terex from a "neutral" rating to an "outperform" rating and increased their price target for the company from $48.00 to $66.00 in a research report on Tuesday, May 13th. Evercore ISI increased their price target 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 research report on Thursday, July 10th. The Goldman Sachs Group raised Terex from a "neutral" rating to a "buy" rating and increased their price objective for the company from $45.00 to $60.00 in a report on Tuesday, May 27th. 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 issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $52.22.

Insider Activity

In related 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 sale, the vice president directly owned 70,308 shares of the company's stock, valued at $3,550,554. This trade represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by insiders.

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.