State of Michigan Retirement System Has $1.61 Million Stock Holdings in Terex Corporation $TEX

State of Michigan Retirement System raised its stake in Terex Corporation (NYSE:TEX) by 76.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,318 shares of the industrial products company’s stock after purchasing an additional 11,800 shares during the quarter. State of Michigan Retirement System’s holdings in Terex were worth $1,614,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TEX. Millennium Management LLC grew its stake in shares of Terex by 1,086.3% in the first quarter. Millennium Management LLC now owns 256,054 shares of the industrial products company’s stock valued at $9,674,000 after buying an additional 234,470 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Terex by 427.2% during the first quarter. Jones Financial Companies Lllp now owns 3,506 shares of the industrial products company’s stock worth $132,000 after buying an additional 2,841 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Terex by 3.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,092,189 shares of the industrial products company’s stock worth $41,263,000 after acquiring an additional 40,077 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Terex by 0.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 195,210 shares of the industrial products company’s stock valued at $7,375,000 after acquiring an additional 1,597 shares during the last quarter. Finally, Intech Investment Management LLC lifted its stake in Terex by 47.4% in the first quarter. Intech Investment Management LLC now owns 45,501 shares of the industrial products company’s stock valued at $1,719,000 after acquiring an additional 14,629 shares during the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Analysts Set New Price Targets

TEX has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Terex from $69.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. DA Davidson initiated coverage on shares of Terex in a research note on Wednesday, June 24th. They issued a “strong-buy” rating and a $81.00 target price for the company. 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 report on Monday, May 11th. Wall Street Zen downgraded Terex from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Morgan Stanley restated an “overweight” rating and issued a $84.00 price objective on shares of Terex in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.00.

Insider Activity

In other news, insider Joshua Gross sold 5,874 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $61.53, for a total transaction of $361,427.22. Following the completion of the sale, the insider owned 48,706 shares in the company, valued at $2,996,880.18. The trade was a 10.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Terex Trading Down 0.7%

TEX stock opened at $65.32 on Friday. Terex Corporation has a one year low of $41.70 and a one year high of $74.69. The stock has a market cap of $7.46 billion, a price-to-earnings ratio of 31.26, a price-to-earnings-growth ratio of 1.02 and a beta of 1.49. The company has a fifty day moving average price of $64.11 and a two-hundred day moving average price of $62.45. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.84 and a quick ratio of 0.88.

Terex (NYSE:TEX) last issued its quarterly earnings data on Friday, May 1st. The industrial products company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.20. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.70 billion. Terex had a net margin of 1.87% and a return on equity of 13.43%. The company’s revenue was up 41.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 earnings per share. Terex has set its FY 2026 guidance at 4.500-5.000 EPS. Equities analysts anticipate that Terex Corporation will post 4.85 EPS for the current year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, August 11th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, August 11th. This represents a $0.68 annualized dividend and a yield of 1.0%. Terex’s dividend payout ratio (DPR) is 32.54%.

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.