Castleark Management LLC Takes Position in Terex Corporation $TEX

Castleark Management LLC bought a new position in shares of Terex Corporation (NYSE:TEX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 79,900 shares of the industrial products company’s stock, valued at approximately $5,784,000. Castleark Management LLC owned 0.07% of Terex as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TEX. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Terex during the second quarter worth about $35,000. Essential Partners LLC increased its stake in shares of Terex by 171.2% during the first quarter. Essential Partners LLC now owns 564 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 356 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings 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 valued at $28,000 after purchasing an additional 369 shares during the last quarter. Allworth Financial LP purchased a new position in shares of Terex during the second quarter valued at approximately $51,000. Finally, Quantbot Technologies LP bought a new stake in shares of Terex in the 2nd quarter worth approximately $53,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Terex Stock Down 0.7%

Terex stock opened at $65.41 on Wednesday. Terex Corporation has a one year low of $41.70 and a one year high of $74.69. The stock has a market cap of $7.47 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 1.00 and a beta of 1.51. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.93 and a current ratio of 1.82. The stock has a fifty day moving average of $66.96 and a 200 day moving average of $63.87.

Terex (NYSE:TEX) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.14. Terex had a return on equity of 12.24% and a net margin of 2.23%.The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the previous year, the firm earned $1.49 EPS. The business’s quarterly revenue was up 50.5% on a year-over-year basis. Terex has set its FY 2026 guidance at 4.700-5.100 EPS. As a group, sell-side analysts predict that Terex Corporation will post 4.99 EPS for the current year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders 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 yield of 1.0%. The ex-dividend date of this dividend is Tuesday, August 11th. Terex’s dividend payout ratio (DPR) is 34.69%.

Wall Street Analyst Weigh In

TEX has been the topic of several recent research reports. Wall Street Zen upgraded Terex from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Truist Financial boosted their target price on Terex from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, July 31st. DA Davidson assumed coverage on Terex in a research note on Wednesday, June 24th. They issued a “strong-buy” rating and a $81.00 target price on the stock. Raymond James Financial upgraded Terex from an “outperform” rating to a “strong-buy” rating and set a $85.00 price target for the company in a report on Monday, May 11th. Finally, Barclays lifted their price target on Terex from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Terex currently has a consensus rating of “Moderate Buy” and an average target price of $78.91.

Terex Company 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.