Zimmer Partners LP Has $9.45 Million Stock Holdings in Terex Corporation $TEX

Key Points

• Zimmer Partners LP increased its stake in Terex Corporation (NYSE:TEX) by 38.9%, owning 250,000 shares valued at approximately $9.4 million after acquiring an additional 70,000 shares in Q1.
• Terex recently reported quarterly earnings of $1.49 per share, surpassing analysts' expectations, with revenues of $1.49 billion, which reflects a 7.6% increase year-over-year.
• The company declared a quarterly dividend of $0.17, representing an annualized yield of 1.3%, with a payout ratio of 25.37%.

Zimmer Partners LP increased its holdings in shares of Terex Corporation (NYSE:TEX - Free Report) by 38.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 250,000 shares of the industrial products company's stock after purchasing an additional 70,000 shares during the quarter. Zimmer Partners LP owned 0.38% of Terex worth $9,445,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Hexagon Capital Partners LLC increased its stake in Terex by 56.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 847 shares of the industrial products company's stock worth $32,000 after purchasing an additional 307 shares in the last quarter. UMB Bank n.a. increased its stake in Terex by 83.0% during the 1st quarter. UMB Bank n.a. now owns 732 shares of the industrial products company's stock worth $28,000 after purchasing an additional 332 shares in the last quarter. Fifth Third Bancorp increased its stake 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 increased its stake in Terex by 128.0% during the 1st quarter. Private Trust Co. NA now owns 773 shares of the industrial products company's stock worth $29,000 after purchasing an additional 434 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in 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 purchasing an additional 517 shares in the last quarter. 92.88% of the stock is owned by institutional investors.

Insider Activity at Terex

In other news, VP Scott Posner sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $50.50, for a total value of $252,500.00. Following the completion of the sale, the vice president owned 70,308 shares of the company's stock, valued at approximately $3,550,554. This represents a 6.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Truist Financial set a $62.00 price target on shares of Terex in a research note on Monday, August 4th. Evercore ISI raised their price target on shares of Terex from $59.00 to $62.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. UBS Group raised their price target on shares of Terex from $48.00 to $52.00 and gave the stock a "neutral" rating in a research note on Thursday, July 10th. The Goldman Sachs Group raised shares of Terex from a "neutral" rating to a "buy" rating and raised their price target for the stock from $45.00 to $60.00 in a research note on Tuesday, May 27th. Finally, Wall Street Zen raised shares of Terex from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Terex currently has an average rating of "Moderate Buy" and an average target price of $52.22.

Terex Stock Down 0.8%

Shares of NYSE TEX traded down $0.45 during trading hours on Friday, hitting $52.75. The company had a trading volume of 580,545 shares, compared to its average volume of 677,839. The stock has a market capitalization of $3.46 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 5.31 and a beta of 1.65. 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 1-year low of $31.53 and a 1-year high of $58.66. The firm's 50 day moving average is $50.73 and its 200-day moving average is $44.71.

Terex (NYSE:TEX - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.44 by $0.05. The company had revenue of $1.49 billion during 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 firm's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.16 EPS. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. On average, analysts expect that Terex Corporation will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Monday, August 11th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, August 11th. Terex's dividend payout ratio is presently 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.