Cibc World Market Inc. Takes Position in Terex Corporation $TEX

Cibc World Market Inc. purchased a new position in shares of Terex Corporation (NYSE:TEX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 55,421 shares of the industrial products company’s stock, valued at approximately $4,012,000.

Several other large investors also recently added to or reduced their stakes in TEX. BlackRock Inc. purchased a new stake in Terex during the second quarter valued at about $1,063,541,000. Dimensional Fund Advisors LP increased its stake in shares of Terex by 29.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,442,435 shares of the industrial products company’s stock worth $262,527,000 after purchasing an additional 1,008,444 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Terex by 17.9% in the fourth quarter. Wellington Management Group LLP now owns 2,798,109 shares of the industrial products company’s stock worth $149,363,000 after purchasing an additional 425,322 shares in the last quarter. Morgan Stanley raised its position in shares of Terex by 77.2% in the fourth quarter. Morgan Stanley now owns 1,669,042 shares of the industrial products company’s stock valued at $89,094,000 after purchasing an additional 727,277 shares during the period. Finally, Invesco Ltd. raised its position in shares of Terex by 1.0% in the fourth quarter. Invesco Ltd. now owns 1,620,342 shares of the industrial products company’s stock valued at $86,494,000 after purchasing an additional 16,377 shares during the period. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Morgan Stanley restated an “overweight” rating and set a $86.00 price target on shares of Terex in a research note on Monday, August 3rd. Citigroup boosted their target price on shares of Terex from $75.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. dropped their target price on Terex from $80.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. 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 research report on Monday, May 11th. Finally, Barclays lifted their price target on Terex from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $78.91.

Terex Stock Performance

Shares of TEX opened at $65.22 on Thursday. The company has a market cap of $7.45 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 0.99 and a beta of 1.51. The company has a current ratio of 1.82, a quick ratio of 0.93 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average price of $66.98 and a 200-day moving average price of $63.89. Terex Corporation has a 12-month low of $41.70 and a 12-month high of $74.69.

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, topping the consensus estimate of $1.23 by $0.14. The company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Terex had a net margin of 2.23% and a return on equity of 12.24%. Terex’s revenue for the quarter was up 50.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.49 earnings per share. Terex has set its FY 2026 guidance at 4.700-5.100 EPS. As a group, equities analysts forecast that Terex Corporation will post 5 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, August 11th will be paid 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 payout ratio is currently 34.69%.

Terex 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.