First Trust Advisors LP Has $34.26 Million Stock Holdings in Terex Corporation $TEX

First Trust Advisors LP cut its holdings in Terex Corporation (NYSE:TEX) by 30.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 733,704 shares of the industrial products company’s stock after selling 316,524 shares during the period. First Trust Advisors LP owned approximately 1.12% of Terex worth $34,257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Terex in the second quarter valued at about $24,870,000. Wealth Enhancement Advisory Services LLC increased its stake in Terex by 44.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 1,027,830 shares of the industrial products company’s stock valued at $51,176,000 after acquiring an additional 315,331 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Terex by 68.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 704,844 shares of the industrial products company’s stock worth $32,909,000 after buying an additional 285,186 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Terex by 1,086.3% during the first quarter. Millennium Management LLC now owns 256,054 shares of the industrial products company’s stock valued at $9,674,000 after acquiring an additional 234,470 shares during the period. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in Terex by 8.8% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,338,868 shares of the industrial products company’s stock valued at $88,362,000 after purchasing an additional 188,195 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Terex

In other Terex news, Director Andra Rush bought 2,120 shares of Terex stock in a transaction dated Friday, October 31st. The stock was bought at an average price of $46.59 per share, with a total value of $98,770.80. Following the completion of the transaction, the director owned 25,428 shares in the company, valued at $1,184,690.52. The trade was a 9.10% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TEX shares. Wells Fargo & Company started coverage on Terex in a research note on Thursday, November 13th. They issued an “equal weight” rating and a $50.00 price objective on the stock. UBS Group reduced their price objective on shares of Terex from $52.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Terex in a research report on Wednesday, October 8th. Morgan Stanley set a $47.00 price objective on shares of Terex and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Finally, Raymond James Financial raised Terex from a “market perform” rating to an “outperform” rating and set a $70.00 target price for the company in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Terex presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.55.

Terex Price Performance

NYSE:TEX opened at $48.95 on Wednesday. The stock’s 50 day moving average price is $49.52 and its two-hundred day moving average price is $49.56. Terex Corporation has a 12-month low of $31.53 and a 12-month high of $58.66. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 4.97 and a beta of 1.70. The company has a quick ratio of 1.20, a current ratio of 2.15 and a debt-to-equity ratio of 1.28.

Terex (NYSE:TEX) last released its quarterly earnings data on Thursday, October 30th. The industrial products company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.28. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Terex had a net margin of 2.92% and a return on equity of 15.93%. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 earnings per share. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. On average, analysts anticipate that Terex Corporation will post 4.83 earnings per share for the current year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Monday, November 10th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, November 10th. Terex’s dividend payout ratio (DPR) is presently 28.94%.

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.