Castleark Management LLC Takes $3.91 Million Position in Terex Corporation $TEX

Castleark Management LLC bought a new stake in Terex Corporation (NYSE:TEX) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 83,780 shares of the industrial products company’s stock, valued at approximately $3,912,000. Castleark Management LLC owned 0.13% of Terex at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TEX. Norges Bank purchased a new position in Terex in the second quarter valued at $24,870,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Terex by 44.3% in the 2nd 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 purchasing an additional 315,331 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in 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 purchasing an additional 285,186 shares during the period. Millennium Management LLC grew its holdings in Terex by 1,086.3% in the first quarter. Millennium Management LLC now owns 256,054 shares of the industrial products company’s stock valued at $9,674,000 after purchasing an additional 234,470 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its position in shares of Terex by 8.8% in the first 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 buying an additional 188,195 shares in the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.

Terex Price Performance

Shares of NYSE TEX opened at $51.47 on Monday. The firm has a 50-day simple moving average of $49.51 and a 200-day simple moving average of $49.68. The company has a quick ratio of 1.20, a current ratio of 2.15 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 5.19 and a beta of 1.70. Terex Corporation has a 52 week low of $31.53 and a 52 week high of $58.66.

Terex (NYSE:TEX) last announced its quarterly earnings data on Thursday, October 30th. The industrial products company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.28. Terex had a net margin of 2.92% and a return on equity of 15.93%. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the company earned $1.46 EPS. Terex’s revenue was up 14.4% compared to the same quarter last year. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. On average, equities analysts predict that Terex Corporation will post 4.83 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 19th. Investors of record on Monday, November 10th will be given a dividend of $0.17 per share. The ex-dividend date is Monday, November 10th. This represents a $0.68 dividend on an annualized basis and a yield of 1.3%. Terex’s dividend payout ratio (DPR) is presently 28.94%.

Analysts Set New Price Targets

TEX has been the topic of a number of recent analyst reports. Morgan Stanley upgraded Terex from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $47.00 to $60.00 in a research report on Wednesday. Wells Fargo & Company initiated coverage on shares of Terex in a research report on Thursday, November 13th. They set an “equal weight” rating and a $50.00 price objective for the company. UBS Group dropped their target price on shares of Terex from $52.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Citigroup reduced their price target on shares of Terex from $58.00 to $52.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Terex in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.73.

Insiders Place Their Bets

In related news, Director Andra Rush bought 2,120 shares of the company’s stock in a transaction on Friday, October 31st. The stock was bought at an average cost of $46.59 per share, for a total transaction of $98,770.80. Following the acquisition, the director directly owned 25,428 shares in the company, valued at $1,184,690.52. This represents a 9.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.

Terex Profile

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.