The Manufacturers Life Insurance Company Purchases New Stake in Terex Corporation $TEX

The Manufacturers Life Insurance Company acquired a new position in Terex Corporation (NYSE:TEX) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 101,231 shares of the industrial products company’s stock, valued at approximately $7,328,000.

A number of other institutional investors have also recently bought and sold shares of TEX. EverSource Wealth Advisors LLC grew its stake in Terex by 167.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 590 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 369 shares in the last quarter. Strs Ohio acquired a new stake in shares of Terex during the first quarter worth approximately $30,000. Essential Partners LLC boosted its holdings 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 worth $33,000 after purchasing an additional 356 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Terex during the second quarter valued at approximately $35,000. Finally, Optiver Holding B.V. grew its position in Terex by 67.5% during the first quarter. Optiver Holding B.V. now owns 782 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 315 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TEX has been the subject of a number of research analyst reports. Truist Financial increased their target price on shares of Terex from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Barclays upped their price target on shares of Terex from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. reduced their price objective on Terex from $80.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Citigroup boosted their target price on Terex from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $86.00 price target on shares of Terex in a research note on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.91.

Terex Stock Performance

Shares of NYSE TEX opened at $63.85 on Monday. The business’s 50-day simple moving average is $66.87 and its 200-day simple moving average is $63.92. 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 52 week low of $41.70 and a 52 week high of $74.69. The firm has a market cap of $7.30 billion, a price-to-earnings ratio of 32.58, a P/E/G ratio of 0.97 and a beta of 1.51.

Terex (NYSE:TEX) last posted its earnings results 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 firm had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.14 billion. Terex had a return on equity of 12.24% and a net margin of 2.23%.The company’s revenue for the quarter was up 50.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.49 EPS. Terex has set its FY 2026 guidance at 4.700-5.100 EPS. As a group, equities research analysts expect that Terex Corporation will post 5 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, August 11th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, August 11th. Terex’s dividend payout ratio is currently 34.69%.

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.