Parallel Advisors LLC Boosts Holdings in Terex Corporation $TEX

Parallel Advisors LLC grew its stake in shares of Terex Corporation (NYSE:TEX) by 211.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,318 shares of the industrial products company’s stock after purchasing an additional 2,253 shares during the quarter. Parallel Advisors LLC’s holdings in Terex were worth $155,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in TEX. Voya Investment Management LLC grew its position in shares of Terex by 16.1% in the 1st quarter. Voya Investment Management LLC now owns 46,264 shares of the industrial products company’s stock worth $1,748,000 after buying an additional 6,413 shares during the last quarter. Strs Ohio purchased a new position in shares of Terex during the 1st quarter valued at approximately $30,000. Intech Investment Management LLC lifted its position in shares of Terex by 47.4% during the 1st quarter. Intech Investment Management LLC now owns 45,501 shares of the industrial products company’s stock valued at $1,719,000 after buying an additional 14,629 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Terex by 0.8% during 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 valued at $7,375,000 after buying an additional 1,597 shares in the last quarter. Finally, Optimize Financial Inc acquired a new position in Terex in the 1st quarter valued at $212,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Terex Stock Performance

Shares of NYSE:TEX opened at $51.86 on Wednesday. The company has a market cap of $3.40 billion, a P/E ratio of 19.35, a PEG ratio of 5.24 and a beta of 1.65. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.11 and a current ratio of 2.08. Terex Corporation has a one year low of $31.53 and a one year high of $58.66. The business’s 50-day simple moving average is $50.94 and its 200 day simple moving average is $45.31.

Terex (NYSE:TEX) last announced its earnings results on Thursday, July 31st. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.44 by $0.05. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.46 billion. Terex had a return on equity of 15.95% and a net margin of 3.46%.The company’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the business posted $2.16 EPS. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. On average, sell-side analysts forecast that Terex Corporation will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Monday, August 11th were given a $0.17 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.68 annualized dividend and a dividend yield of 1.3%. Terex’s dividend payout ratio (DPR) is presently 25.37%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Terex from $43.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 10th. UBS Group increased their price target on shares of Terex from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, July 10th. The Goldman Sachs Group raised shares of Terex from a “neutral” rating to a “buy” rating and increased their price target for the stock from $45.00 to $60.00 in a research report on Tuesday, May 27th. Citigroup increased their price target on shares of Terex from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Wall Street Zen raised shares of Terex from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.67.

Insider Activity at Terex

In related news, VP Scott Posner sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $50.50, for a total value of $252,500.00. Following the sale, the vice president owned 70,308 shares of the company’s stock, valued at approximately $3,550,554. This trade represents a 6.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

About Terex

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.