Terex Corporation $TEX Shares Acquired by Penn Capital Management Company LLC

Penn Capital Management Company LLC lifted its stake in shares of Terex Corporation (NYSE:TEX) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 246,792 shares of the industrial products company’s stock after purchasing an additional 15,784 shares during the quarter. Penn Capital Management Company LLC owned about 0.22% of Terex worth $12,995,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of TEX. Allspring Global Investments Holdings LLC increased its stake in Terex by 15,440.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,773,516 shares of the industrial products company’s stock valued at $97,437,000 after buying an additional 1,762,104 shares during the period. Ethic Inc. lifted its stake in shares of Terex by 45.8% in the 3rd quarter. Ethic Inc. now owns 12,052 shares of the industrial products company’s stock worth $634,000 after acquiring an additional 3,787 shares during the period. Heritage Family Offices LLP acquired a new stake in shares of Terex in the 3rd quarter worth $48,000. Kestra Advisory Services LLC boosted its holdings in shares of Terex by 8.8% in the third quarter. Kestra Advisory Services LLC now owns 7,953 shares of the industrial products company’s stock valued at $418,000 after acquiring an additional 641 shares in the last quarter. Finally, One Way Holdings LLC purchased a new stake in shares of Terex in the third quarter valued at about $653,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Terex Price Performance

Terex stock opened at $58.09 on Tuesday. Terex Corporation has a one year low of $41.70 and a one year high of $74.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 1.76. The business has a fifty day moving average of $56.19 and a two-hundred day moving average of $61.76. The company has a market cap of $6.53 billion, a P/E ratio of 29.34, a price-to-earnings-growth ratio of 1.06 and a beta of 1.48.

Terex (NYSE:TEX) last posted its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.08. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Terex had a net margin of 2.64% and a return on equity of 11.79%. The business’s revenue for the quarter was up 58.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.50 EPS. As a group, analysts predict that Terex Corporation will post 4.92 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Monday, November 9th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, November 9th. This represents a $0.68 dividend on an annualized basis and a yield of 1.2%. Terex’s payout ratio is currently 34.34%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TEX shares. JPMorgan Chase & Co. dropped their price target on shares of Terex from $68.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, October 8th. Truist Financial restated a “buy” rating and issued a $87.00 price objective (up from $85.00) on shares of Terex in a research report on Thursday, October 29th. Morgan Stanley lowered their price objective on Terex from $86.00 to $84.00 and set an “overweight” rating on the stock in a report on Thursday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Terex in a research report on Thursday, October 15th. Finally, Citigroup dropped their target price on Terex from $80.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Terex presently has an average rating of “Moderate Buy” and an average price target of $77.10.

About Terex

Terex Corporation designs, manufactures and supports equipment used in construction, infrastructure, utilities, materials processing and environmental services. Its products include aerial work platforms and machinery for crushing, screening, washing and conveying materials, along with equipment for waste handling and other specialized applications.

The company sells equipment and aftermarket services worldwide through a portfolio of brands that includes Genie, Powerscreen, Finlay and Terex.