J. Goldman & Co LP Acquires New Shares in Terex Corporation $TEX

J. Goldman & Co LP purchased a new position in Terex Corporation (NYSE:TEX) in the second quarter, Holdings Channel reports. The fund purchased 125,375 shares of the industrial products company’s stock, valued at approximately $9,076,000.

Other large investors have also modified their holdings of the company. Hsbc Holdings PLC acquired a new stake in shares of Terex in the second quarter valued at about $660,000. Ancora Advisors LLC bought a new position in Terex in the second quarter worth $29,000. Castleark Management LLC bought a new position in shares of Terex during the 2nd quarter worth about $5,784,000. Legal & General Group Plc acquired a new stake in Terex during the second quarter valued at approximately $11,773,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Terex in the second quarter valued at $7,328,000. 92.88% of the stock is owned by institutional investors.

Terex Stock Performance

TEX opened at $65.41 on Wednesday. The firm has a market capitalization of $7.47 billion, a PE ratio of 33.37, a PEG ratio of 1.00 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.93 and a current ratio of 1.82. Terex Corporation has a 52-week low of $41.70 and a 52-week high of $74.69. The business’s 50-day simple moving average is $66.96 and its 200 day simple moving average is $63.87.

Terex (NYSE:TEX) last issued its earnings results on Thursday, July 30th. The industrial products company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.14. Terex had a net margin of 2.23% and a return on equity of 12.24%. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the company earned $1.49 earnings per share. The firm’s revenue for the quarter was up 50.5% on a year-over-year basis. Terex has set its FY 2026 guidance at 4.700-5.100 EPS. As a group, sell-side analysts expect that Terex Corporation will post 4.99 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 18th. Stockholders of record on Tuesday, August 11th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, August 11th. Terex’s payout ratio is currently 34.69%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Evercore reiterated an “outperform” rating and issued a $81.00 target price on shares of Terex in a research note on Monday, May 11th. Truist Financial raised their target price on shares of Terex from $92.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Wall Street Zen raised Terex from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Terex in a research note on Friday, July 17th. Finally, 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 report on Monday, May 11th. Two research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $78.91.

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.