CenterBook Partners LP Buys Shares of 17,501 Terex Corporation $TEX

CenterBook Partners LP acquired a new stake in Terex Corporation (NYSE:TEX) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 17,501 shares of the industrial products company’s stock, valued at approximately $934,000.

A number of other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in shares of Terex during the third quarter worth $121,724,000. Invesco Ltd. grew its stake in shares of Terex by 801.3% in the third quarter. Invesco Ltd. now owns 1,603,965 shares of the industrial products company’s stock valued at $82,283,000 after buying an additional 1,425,996 shares in the last quarter. Norges Bank purchased a new stake in shares of Terex in the 4th quarter valued at $33,828,000. UBS Group AG lifted its position in shares of Terex by 168.5% during the third quarter. UBS Group AG now owns 964,495 shares of the industrial products company’s stock worth $49,479,000 after purchasing an additional 605,337 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in Terex during the 4th quarter worth approximately $15,449,000. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TEX has been the topic of a number of analyst reports. Robert W. Baird set a $100.00 price target on Terex in a research report on Thursday, February 12th. Zacks Research raised shares of Terex from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Wall Street Zen downgraded shares of Terex from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. cut their target price on Terex from $76.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, April 10th. Finally, Evercore reissued an “outperform” rating and issued a $81.00 target price on shares of Terex in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.30.

Insider Transactions at Terex

In other news, insider Joshua Gross sold 5,874 shares of Terex stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $61.53, for a total transaction of $361,427.22. Following the completion of the sale, the insider directly owned 48,706 shares in the company, valued at approximately $2,996,880.18. This trade represents a 10.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Terex Price Performance

Terex stock opened at $59.75 on Thursday. The stock has a market capitalization of $6.82 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 0.99 and a beta of 1.53. The business has a 50 day simple moving average of $60.90 and a 200-day simple moving average of $59.27. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.84 and a quick ratio of 0.88. Terex Corporation has a 12 month low of $41.70 and a 12 month high of $71.50.

Terex (NYSE:TEX) last issued its quarterly earnings results on Friday, May 1st. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.20. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.70 billion. Terex had a net margin of 1.87% and a return on equity of 13.43%. The business’s revenue was up 41.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.83 earnings per share. Terex has set its FY 2026 guidance at 4.500-5.000 EPS. Equities analysts predict that Terex Corporation will post 4.87 earnings per share for the current year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Monday, June 8th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. Terex’s payout ratio is currently 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.