Renaissance Technologies LLC Invests $7.03 Million in Terex Corporation $TEX

Renaissance Technologies LLC acquired a new stake in Terex Corporation (NYSE:TEX) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 118,891 shares of the industrial products company’s stock, valued at approximately $7,026,000. Renaissance Technologies LLC owned about 0.10% of Terex as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in TEX. CenterBook Partners LP acquired a new stake in shares of Terex during the 4th quarter worth about $934,000. Y Intercept Hong Kong Ltd acquired a new position in Terex in the first quarter valued at about $6,439,000. M&T Bank Corp boosted its stake in Terex by 814.9% during the fourth quarter. M&T Bank Corp now owns 68,501 shares of the industrial products company’s stock worth $3,657,000 after buying an additional 61,014 shares during the period. Hillsdale Investment Management Inc. purchased a new position in Terex during the fourth quarter worth about $5,055,000. Finally, Norges Bank acquired a new stake in shares of Terex during the fourth quarter valued at about $33,828,000. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Terex Stock Up 2.6%

Shares of NYSE TEX opened at $66.06 on Wednesday. The stock has a market cap of $7.55 billion, a P/E ratio of 33.71, a PEG 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. Terex Corporation has a 12-month low of $41.70 and a 12-month high of $74.69. The business’s fifty day simple moving average is $65.57 and its 200-day simple moving average is $63.22.

Terex (NYSE:TEX) last released its earnings results on Thursday, July 30th. The industrial products company reported $1.37 EPS 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 analysts’ expectations of $2.14 billion. Terex had a return on equity of 12.24% and a net margin of 2.23%.Terex’s revenue for the quarter was up 50.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.49 EPS. Terex has set its FY 2026 guidance at 4.700-5.100 EPS. As a group, equities analysts predict that Terex Corporation will post 4.92 EPS for the current fiscal year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, August 11th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, August 11th. Terex’s dividend payout ratio is presently 34.69%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Citigroup upped their price objective on shares of Terex from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. dropped their target price on shares of Terex from $80.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, July 31st. DA Davidson started coverage on Terex in a research report on Wednesday, June 24th. They issued a “strong-buy” rating and a $81.00 target price on the stock. Zacks Research upgraded Terex from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Evercore reiterated an “outperform” rating and issued a $81.00 price objective on shares of Terex in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.