Van ECK Associates Corp Invests $2.59 Million in Terex Corporation $TEX

Van ECK Associates Corp acquired a new stake in shares of Terex Corporation (NYSE:TEX) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 35,756 shares of the industrial products company’s stock, valued at approximately $2,588,000.

A number of other large investors have also modified their holdings of the company. GAMMA Investing LLC lifted its position in Terex by 7.6% in the second quarter. GAMMA Investing LLC now owns 2,290 shares of the industrial products company’s stock worth $166,000 after purchasing an additional 161 shares during the period. UMB Bank n.a. increased its holdings in Terex by 15.0% in the 4th quarter. UMB Bank n.a. now owns 1,451 shares of the industrial products company’s stock valued at $77,000 after buying an additional 189 shares during the period. M&T Bank Corp increased its holdings in Terex by 3.1% in the 2nd quarter. M&T Bank Corp now owns 7,497 shares of the industrial products company’s stock valued at $350,000 after buying an additional 225 shares during the period. Kestra Advisory Services LLC raised its stake in shares of Terex by 4.0% in the 1st quarter. Kestra Advisory Services LLC now owns 7,369 shares of the industrial products company’s stock valued at $436,000 after buying an additional 286 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Terex by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 61,731 shares of the industrial products company’s stock valued at $2,882,000 after buying an additional 287 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Terex Stock Up 1.5%

Shares of TEX opened at $62.71 on Friday. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 0.94 and a beta of 1.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.93 and a current ratio of 1.82. The business’s fifty day moving average price is $66.19 and its two-hundred day moving average price is $63.81. Terex Corporation has a 52 week low of $41.70 and a 52 week high of $74.69.

Terex (NYSE:TEX) last posted its quarterly 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. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.14 billion. Terex had a net margin of 2.23% and a return on equity of 12.24%. Terex’s revenue for the quarter was up 50.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.49 earnings per share. Terex has set its FY 2026 guidance at 4.700-5.100 EPS. On average, analysts predict that Terex Corporation will post 5 earnings per share for the current 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 paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, August 11th. Terex’s payout ratio is presently 34.69%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Citigroup raised their price target on shares of Terex from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Wall Street Zen raised Terex from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Morgan Stanley restated an “overweight” rating and set a $86.00 target price on shares of Terex in a research report on Monday, August 3rd. Barclays increased their price objective on Terex from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Finally, Truist Financial boosted 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. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Terex presently has a consensus rating of “Moderate Buy” and a consensus target price 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.