Sierra Summit Advisors LLC Makes New Investment in Terex Corporation $TEX

Sierra Summit Advisors LLC acquired a new position in Terex Corporation (NYSE:TEX) during the first quarter, according to its most recent filing with the SEC. The firm acquired 13,183 shares of the industrial products company’s stock, valued at approximately $779,000.

Several other hedge funds have also recently made changes to their positions in TEX. Millennium Management LLC lifted its stake in Terex by 1,086.3% in the first quarter. Millennium Management LLC now owns 256,054 shares of the industrial products company’s stock worth $9,674,000 after acquiring an additional 234,470 shares during the period. Jones Financial Companies Lllp increased its position in Terex by 427.2% during the 1st quarter. Jones Financial Companies Lllp now owns 3,506 shares of the industrial products company’s stock valued at $132,000 after purchasing an additional 2,841 shares during the period. Goldman Sachs Group Inc. increased its position in Terex by 3.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,092,189 shares of the industrial products company’s stock valued at $41,263,000 after purchasing an additional 40,077 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Terex by 0.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 195,210 shares of the industrial products company’s stock worth $7,375,000 after purchasing an additional 1,597 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings in Terex by 47.4% in the 1st quarter. Intech Investment Management LLC now owns 45,501 shares of the industrial products company’s stock worth $1,719,000 after purchasing an additional 14,629 shares in the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Terex

In other news, insider Joshua Gross sold 5,874 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $61.53, for a total transaction of $361,427.22. Following the transaction, the insider directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Terex in a research report on Monday, April 20th. Evercore reiterated an “outperform” rating and set a $81.00 price target on shares of Terex in a research report on Monday, May 11th. JPMorgan Chase & Co. decreased their price target on shares of Terex from $76.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, April 10th. DA Davidson assumed coverage on shares of Terex in a report on Wednesday, June 24th. They issued a “strong-buy” rating and a $81.00 price objective for the company. Finally, Barclays initiated coverage on Terex in a research report on Tuesday, March 31st. They set an “overweight” rating and a $65.00 price objective on the stock. 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. Based on data from MarketBeat, Terex currently has a consensus rating of “Moderate Buy” and an average target price of $76.73.

Terex Price Performance

Shares of TEX opened at $68.17 on Friday. The stock has a market cap of $7.78 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 1.07 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.88 and a current ratio of 1.84. 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 simple moving average is $63.40 and its two-hundred day simple moving average is $61.60.

Terex (NYSE:TEX) last released its earnings results on Friday, May 1st. The industrial products company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.20. Terex had a return on equity of 13.43% and a net margin of 1.87%.The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the firm posted $0.83 earnings per share. The company’s quarterly revenue was up 41.1% on a year-over-year basis. Terex has set its FY 2026 guidance at 4.500-5.000 EPS. Analysts anticipate that Terex Corporation will post 4.84 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, August 11th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. Terex’s dividend payout ratio (DPR) is presently 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.