State of Alaska Department of Revenue Sells 10,659 Shares of Terex Corporation $TEX

State of Alaska Department of Revenue lowered its stake in shares of Terex Corporation (NYSE:TEX) by 22.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,708 shares of the industrial products company’s stock after selling 10,659 shares during the quarter. State of Alaska Department of Revenue’s holdings in Terex were worth $1,881,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of TEX. Norges Bank acquired a new position in shares of Terex during the second quarter valued at about $24,870,000. Wealth Enhancement Advisory Services LLC raised its holdings in Terex by 44.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,027,830 shares of the industrial products company’s stock valued at $51,176,000 after acquiring an additional 315,331 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Terex by 68.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 704,844 shares of the industrial products company’s stock worth $32,909,000 after acquiring an additional 285,186 shares during the period. Millennium Management LLC grew its holdings in shares of Terex by 1,086.3% during the 1st quarter. Millennium Management LLC now owns 256,054 shares of the industrial products company’s stock worth $9,674,000 after purchasing an additional 234,470 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Terex by 55.6% during the second quarter. Bank of America Corp DE now owns 476,510 shares of the industrial products company’s stock valued at $22,248,000 after purchasing an additional 170,339 shares during the period. 92.88% of the stock is owned by institutional investors.

Terex Price Performance

Shares of Terex stock opened at $61.04 on Friday. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 25.97, a P/E/G ratio of 5.48 and a beta of 1.67. The firm’s 50-day moving average price is $51.14 and its two-hundred day moving average price is $51.26. The company has a current ratio of 2.15, a quick ratio of 1.20 and a debt-to-equity ratio of 1.28. Terex Corporation has a 1-year low of $31.53 and a 1-year high of $62.23.

Terex (NYSE:TEX) last issued its quarterly earnings data on Thursday, October 30th. The industrial products company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.28. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.41 billion. Terex had a return on equity of 15.93% and a net margin of 2.92%.The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. On average, equities analysts predict that Terex Corporation will post 4.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on TEX. UBS Group reduced their target price on Terex from $52.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Citigroup lifted their target price on shares of Terex from $52.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday. Raymond James Financial raised shares of Terex from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a research report on Monday, October 27th. Wells Fargo & Company began coverage on Terex in a report on Thursday, November 13th. They set an “equal weight” rating and a $50.00 price objective on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Terex in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.64.

Insider Buying and Selling

In related news, Director Andra Rush acquired 2,120 shares of the stock in a transaction on Friday, October 31st. The stock was purchased at an average price of $46.59 per share, for a total transaction of $98,770.80. Following the transaction, the director owned 25,428 shares of the company’s stock, valued at $1,184,690.52. The trade was a 9.10% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

About Terex

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.