Penn Capital Management Company LLC Buys 118,717 Shares of Terex Corporation $TEX

Penn Capital Management Company LLC grew its stake in shares of Terex Corporation (NYSE:TEX) by 105.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 231,008 shares of the industrial products company’s stock after buying an additional 118,717 shares during the quarter. Penn Capital Management Company LLC’s holdings in Terex were worth $16,741,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its position in Terex by 167.0% in the second quarter. EverSource Wealth Advisors LLC now owns 590 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 369 shares in the last quarter. Ancora Advisors LLC purchased a new stake in Terex during the second quarter valued at about $29,000. Strs Ohio bought a new stake in Terex during the first quarter worth about $30,000. Essential Partners LLC boosted its holdings in shares of Terex by 171.2% in the 1st quarter. Essential Partners LLC now owns 564 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 356 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Terex in the 2nd quarter worth about $35,000. 92.88% of the stock is owned by institutional investors.

Terex Trading Down 1.1%

Shares of TEX stock opened at $63.85 on Friday. The stock has a market capitalization of $7.30 billion, a PE ratio of 32.58, a P/E/G ratio of 0.97 and a beta of 1.51. Terex Corporation has a 1-year low of $41.70 and a 1-year high of $74.69. The business has a 50-day moving average of $66.87 and a 200 day moving average of $63.90. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.82 and a quick ratio of 0.93.

Terex (NYSE:TEX) last posted its quarterly earnings results on Thursday, July 30th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.14. The business had revenue of $2.24 billion for 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%.Terex’s revenue for the quarter was up 50.5% compared to the same quarter last year. During the same period last year, the company earned $1.49 EPS. Terex has set its FY 2026 guidance at 4.700-5.100 EPS. As a group, sell-side analysts anticipate that Terex Corporation will post 5 earnings per share for the current year.

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, August 11th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, August 11th. Terex’s dividend payout ratio (DPR) is 34.69%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TEX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Terex in a report on Friday, July 17th. Barclays upped their target price on Terex from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Citigroup lifted their price target on shares of Terex from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. lowered their price objective 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. Finally, Wall Street Zen raised shares of Terex from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Two 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $78.91.

Terex Company 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.