Jennison Associates LLC Purchases Shares of 242,558 Terex Corporation $TEX

Jennison Associates LLC bought a new stake in Terex Corporation (NYSE:TEX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 242,558 shares of the industrial products company’s stock, valued at approximately $14,335,000. Jennison Associates LLC owned approximately 0.21% of Terex at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in shares of Terex by 167.0% during the second quarter. EverSource Wealth Advisors LLC now owns 590 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 369 shares in the last quarter. Strs Ohio bought a new position in shares of Terex during the 1st quarter valued at $30,000. Capital Advisors Ltd. LLC grew its holdings in shares of Terex by 856.2% during the 1st quarter. Capital Advisors Ltd. LLC now owns 851 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 762 shares during the last quarter. UMB Bank n.a. raised its position 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 worth $77,000 after purchasing an additional 189 shares during the period. Finally, Quarry LP purchased a new position in Terex in the 4th quarter worth $88,000. Institutional investors own 92.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. DA Davidson started coverage on Terex in a research note on Wednesday, June 24th. They set a “strong-buy” rating and a $81.00 price objective on the stock. Morgan Stanley restated an “overweight” rating and set a $84.00 price target on shares of Terex in a research report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price target on Terex from $69.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Citigroup boosted their price objective on Terex from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, Evercore reissued an “outperform” rating and set a $81.00 price objective on shares of Terex in a research note on Monday, May 11th. Two equities research 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $79.45.

Terex Trading Up 2.8%

TEX opened at $64.68 on Wednesday. The stock has a market cap of $7.39 billion, a PE ratio of 30.95, a PEG ratio of 0.98 and a beta of 1.49. The company has a quick ratio of 0.88, a current ratio of 1.84 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average of $64.10 and a 200-day moving average of $62.65. Terex Corporation has a 52 week low of $41.70 and a 52 week high of $74.69.

Terex (NYSE:TEX) last issued its quarterly earnings results on Friday, May 1st. The industrial products company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.20. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Terex had a return on equity of 13.43% and a net margin of 1.87%.The firm’s revenue for the quarter was up 41.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 earnings per share. Terex has set its FY 2026 guidance at 4.500-5.000 EPS. Equities research analysts predict that Terex Corporation will post 4.85 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. Stockholders of record on Tuesday, August 11th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, August 11th. Terex’s payout ratio is 32.54%.

Insider Activity at Terex

In other news, insider Joshua Gross sold 5,874 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $61.53, for a total value of $361,427.22. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.60% of the company’s stock.

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.