Teachers Retirement System of The State of Kentucky Boosts Stake in Terex Corporation $TEX

Key Points

• Teachers Retirement System of The State of Kentucky increased its Terex stake by 188% in the first quarter, buying 42,633 more shares and bringing its holdings to 65,308 shares valued at about $3.86 million.
• Wall Street sentiment on Terex (NYSE:TEX) is generally positive, with a consensus rating of Moderate Buy and an average price target of $79, while several analysts recently raised ratings and targets as high as $85.
• Terex reported strong quarterly results, including EPS of $0.98 versus $0.78 expected and revenue of $1.73 billion, up 41.1% year over year; the company also announced a quarterly dividend of $0.17 per share.

Teachers Retirement System of The State of Kentucky boosted its stake in Terex Corporation (NYSE:TEX - Free Report) by 188.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 65,308 shares of the industrial products company's stock after purchasing an additional 42,633 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.06% of Terex worth $3,860,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in Terex by 167.0% during the second quarter. EverSource Wealth Advisors LLC now owns 590 shares of the industrial products company's stock worth $28,000 after purchasing an additional 369 shares in the last quarter. Strs Ohio acquired a new stake in shares of Terex in the first quarter valued at $30,000. Capital Advisors Ltd. LLC raised its holdings in shares of Terex by 856.2% in the 1st quarter. Capital Advisors Ltd. LLC now owns 851 shares of the industrial products company's stock valued at $50,000 after buying an additional 762 shares during the period. UMB Bank n.a. raised its holdings in shares of Terex by 15.0% in the 4th quarter. UMB Bank n.a. now owns 1,451 shares of the industrial products company's stock valued at $77,000 after buying an additional 189 shares during the period. Finally, Quarry LP acquired a new position in Terex during the 4th quarter worth about $88,000. Hedge funds and other institutional investors own 92.88% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on TEX shares. Zacks Research upgraded Terex from a "strong sell" rating to a "hold" rating in a report on Monday, April 13th. DA Davidson started coverage on shares of Terex in a research report on Wednesday, June 24th. They set a "strong-buy" rating and a $81.00 price target on the stock. Raymond James Financial raised shares of Terex from an "outperform" rating to a "strong-buy" rating and set a $85.00 price objective for the company in a research note on Monday, May 11th. Weiss Ratings restated a "hold (c)" rating on shares of Terex in a report on Monday, April 20th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $84.00 target price on shares of Terex in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Terex has a consensus rating of "Moderate Buy" and an average target price of $79.00.

Terex Stock Down 0.8%

Shares of NYSE:TEX opened at $65.10 on Wednesday. Terex Corporation has a fifty-two week low of $41.70 and a fifty-two week high of $74.69. The firm's 50 day moving average price is $63.98 and its 200 day moving average price is $62.27. The company has a quick ratio of 0.88, a current ratio of 1.84 and a debt-to-equity ratio of 0.57. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of 31.15, a price-to-earnings-growth ratio of 1.03 and a beta of 1.49.

Terex (NYSE:TEX - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The industrial products company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.78 by $0.20. Terex had a net margin of 1.87% and a return on equity of 13.43%. The company had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.70 billion. During the same quarter in the previous year, the business posted $0.83 EPS. The firm's revenue was up 41.1% on a year-over-year basis. Terex has set its FY 2026 guidance at 4.500-5.000 EPS. As a group, equities research analysts predict that Terex Corporation will post 4.84 earnings per share for the current fiscal 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 presently 32.54%.

Insider Activity at Terex

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

Terex Company 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.

Want to see what other hedge funds are holding TEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Terex Corporation (NYSE:TEX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.