Swiss National Bank Raises Stock Position in Terex Corporation $TEX

Key Points

• Swiss National Bank boosted its Terex stake by 73.3% in the first quarter, buying an additional 94,962 shares and bringing its holding to 224,462 shares worth about $13.27 million.
• Terex reported stronger-than-expected quarterly results, with EPS of $0.98 versus the $0.78 estimate and revenue of $1.73 billion, up 41.1% year over year.
• Wall Street sentiment remains constructive, with several firms raising targets or issuing bullish ratings and the stock recently trading near its 52-week high after a 1.8% gain.

Swiss National Bank raised its stake in shares of Terex Corporation (NYSE:TEX - Free Report) by 73.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 224,462 shares of the industrial products company's stock after buying an additional 94,962 shares during the period. Swiss National Bank owned about 0.20% of Terex worth $13,266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. grew its holdings in shares of Terex by 15.0% in the fourth quarter. UMB Bank n.a. now owns 1,451 shares of the industrial products company's stock worth $77,000 after acquiring an additional 189 shares during the period. M&T Bank Corp increased its position in Terex by 3.1% during the second quarter. M&T Bank Corp now owns 7,497 shares of the industrial products company's stock valued at $350,000 after acquiring an additional 225 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in Terex by 2.5% in the fourth quarter. Perigon Wealth Management LLC now owns 9,246 shares of the industrial products company's stock valued at $494,000 after acquiring an additional 228 shares during the period. Drum Hill Capital LLC lifted its holdings in Terex by 0.6% in the fourth quarter. Drum Hill Capital LLC now owns 48,067 shares of the industrial products company's stock valued at $2,566,000 after acquiring an additional 278 shares during the period. Finally, Kestra Advisory Services LLC boosted its position in Terex by 4.0% in the first quarter. Kestra Advisory Services LLC now owns 7,369 shares of the industrial products company's stock worth $436,000 after purchasing an additional 286 shares during the last quarter. 92.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Joshua Gross sold 5,874 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $61.53, for a total value of $361,427.22. Following the completion of the transaction, the insider owned 48,706 shares of the company's stock, valued at approximately $2,996,880.18. This represents a 10.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TEX shares. Raymond James Financial upgraded Terex from an "outperform" rating to a "strong-buy" rating and set a $85.00 price target for the company in a research note on Monday, May 11th. Citigroup raised their price objective on shares of Terex from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. DA Davidson assumed coverage on shares of Terex in a research report on Wednesday, June 24th. They set a "strong-buy" rating and a $81.00 target price for the company. Wall Street Zen cut shares of Terex from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Barclays increased their price target on shares of Terex from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Terex currently has an average rating of "Moderate Buy" and an average price target of $79.45.

Terex Trading Up 1.8%

Terex stock opened at $69.73 on Friday. Terex Corporation has a 12-month low of $41.70 and a 12-month high of $74.69. The firm has a market capitalization of $7.96 billion, a price-to-earnings ratio of 33.36, a P/E/G ratio of 1.09 and a beta of 1.49. The firm has a 50 day moving average of $64.48 and a 200 day moving average of $62.89. The company has a current ratio of 1.84, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57.

Terex (NYSE:TEX - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The industrial products company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.20. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.70 billion. Terex had a net margin of 1.87% and a return on equity of 13.43%. The company's revenue for the quarter was up 41.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Terex has set its FY 2026 guidance at 4.500-5.000 EPS. As a group, research analysts predict that Terex Corporation will post 4.85 earnings per share for the current year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, August 11th will be paid a dividend of $0.17 per share. The ex-dividend date is Tuesday, August 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. Terex's payout ratio is 32.54%.

Terex Profile

Terex Corporation is a global manufacturer of lifting and material-handling plant and equipment, serving a range of industries that includes construction, infrastructure, energy, manufacturing and shipping logistics. Its product portfolio encompasses aerial work platforms, rough terrain and tower cranes, port and cargo handling equipment, material processing machinery and utility products. These offerings are marketed under well-known brands such as Genie®, Terex® AWP, Terex® Cranes, Demag®, and Powerscreen®, and are designed to meet diverse application requirements from building sites to industrial facilities and ports.

Headquartered in Westport, Connecticut, Terex traces its roots back to 1933 and has grown through strategic acquisitions and organic expansion.

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