Freestone Grove Partners LP Takes $116.56 Million Position in Terex Corporation $TEX

Freestone Grove Partners LP bought a new position in shares of Terex Corporation (NYSE:TEX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,610,140 shares of the industrial products company’s stock, valued at approximately $116,558,000. Terex accounts for about 0.7% of Freestone Grove Partners LP’s investment portfolio, making the stock its 15th biggest position. Freestone Grove Partners LP owned 1.41% of Terex at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Terex by 7.6% during the second quarter. GAMMA Investing LLC now owns 2,290 shares of the industrial products company’s stock worth $166,000 after acquiring an additional 161 shares in the last quarter. UMB Bank n.a. increased its holdings in Terex by 15.0% during 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 in the last quarter. M&T Bank Corp lifted its holdings in shares of Terex by 3.1% in the second quarter. M&T Bank Corp now owns 7,497 shares of the industrial products company’s stock valued at $350,000 after purchasing an additional 225 shares in the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of Terex by 4.0% in the first quarter. Kestra Advisory Services LLC now owns 7,369 shares of the industrial products company’s stock valued at $436,000 after purchasing an additional 286 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Terex by 0.5% during the second quarter. California State Teachers Retirement System now owns 61,731 shares of the industrial products company’s stock valued at $2,882,000 after buying an additional 287 shares during the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Terex Price Performance

TEX opened at $65.22 on Thursday. The firm has a market cap of $7.45 billion, a P/E ratio of 33.28, a PEG ratio of 0.99 and a beta of 1.51. The firm has a 50-day moving average of $66.98 and a 200 day moving average of $63.89. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.93 and a current ratio of 1.82. Terex Corporation has a fifty-two week low of $41.70 and a fifty-two week high of $74.69.

Terex (NYSE:TEX) last released its earnings results 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 net margin of 2.23% and a return on equity of 12.24%. 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 company earned $1.49 earnings per share. The company’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. On average, research analysts expect that Terex Corporation will post 5 EPS for the current year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, August 11th will be given a $0.17 dividend. 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 currently 34.69%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Truist Financial increased their price target on Terex from $92.00 to $96.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Evercore reaffirmed an “outperform” rating and set a $81.00 price objective on shares of Terex in a report on Monday, May 11th. JPMorgan Chase & Co. reduced their target price on shares of Terex from $80.00 to $68.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Wall Street Zen upgraded shares of Terex from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Morgan Stanley reissued an “overweight” rating and set a $86.00 price target on shares of Terex in a research report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Terex presently has an average rating of “Moderate Buy” and an average target price of $78.91.

About Terex

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.