Terex Corporation $TEX Stock Position Raised by Penn Capital Management Company LLC

Penn Capital Management Company LLC boosted its position in Terex Corporation (NYSE:TEX) by 6.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 246,792 shares of the industrial products company’s stock after buying an additional 15,784 shares during the period. Penn Capital Management Company LLC’s holdings in Terex were worth $12,995,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp purchased a new position in shares of Terex in the second quarter valued at $2,588,000. Principal Financial Group Inc. raised its stake in shares of Terex by 183.0% during the 1st quarter. Principal Financial Group Inc. now owns 402,045 shares of the industrial products company’s stock worth $23,761,000 after buying an additional 259,993 shares during the last quarter. Cooper Creek Partners Management LLC acquired a new position in shares of Terex during the 1st quarter worth $38,992,000. Bank of America Corp DE boosted its position in shares of Terex by 33.9% in the 1st quarter. Bank of America Corp DE now owns 467,017 shares of the industrial products company’s stock worth $27,601,000 after buying an additional 118,120 shares in the last quarter. Finally, Hanseatic Management Services Inc. purchased a new stake in shares of Terex in the 1st quarter worth about $1,080,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Morgan Stanley lowered their price objective on shares of Terex from $86.00 to $84.00 and set an “overweight” rating on the stock in a research note on Thursday, October 29th. JPMorgan Chase & Co. cut their target price on shares of Terex from $68.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, October 8th. Truist Financial reaffirmed a “buy” rating and issued a $87.00 price target (up from $85.00) on shares of Terex in a report on Thursday, October 29th. Wells Fargo & Company reduced their price target on shares of Terex from $70.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday, October 26th. Finally, Barclays increased their price target on shares of Terex from $65.00 to $70.00 and gave the company 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 issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $77.10.

Terex Stock Performance

Terex stock opened at $58.09 on Tuesday. Terex Corporation has a fifty-two week low of $41.70 and a fifty-two week high of $74.69. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 1.06 and a beta of 1.48. The stock has a fifty day moving average of $56.19 and a two-hundred day moving average of $61.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.92 and a current ratio of 1.76.

Terex (NYSE:TEX) last issued its quarterly earnings data on Wednesday, October 28th. The industrial products company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.08. Terex had a return on equity of 11.79% and a net margin of 2.64%. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the business earned $1.50 earnings per share. The business’s revenue was up 58.4% on a year-over-year basis. On average, analysts anticipate that Terex Corporation will post 4.92 EPS for the current fiscal year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Monday, November 9th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, November 9th. Terex’s dividend payout ratio (DPR) is currently 34.34%.

Terex Profile

Terex Corporation designs, manufactures and supports equipment used in construction, infrastructure, utilities, materials processing and environmental services. Its products include aerial work platforms and machinery for crushing, screening, washing and conveying materials, along with equipment for waste handling and other specialized applications.

The company sells equipment and aftermarket services worldwide through a portfolio of brands that includes Genie, Powerscreen, Finlay and Terex.