Wed Sep 25 07:25:00 UTC 2024: ## New Jersey Pension Fund Trims Terex Holdings, While Other Investors Show Interest
**New York, NY** – The State of New Jersey Common Pension Fund D reduced its stake in industrial equipment manufacturer Terex Co. (NYSE:TEX) by 37.6% during the second quarter, according to a recent SEC filing. The fund now holds 31,984 shares, valued at $1,754,000.
While the New Jersey fund trimmed its holdings, other investors have been actively buying Terex stock. Blue Trust Inc. increased its position by 57.5% in the second quarter, while FinTrust Capital Advisors LLC raised its stake by 202.2% in the first quarter. Several other funds, including OLD Point Trust & Financial Services N A and International Assets Investment Management LLC, acquired new positions in the company.
Overall, institutional investors and hedge funds now own 92.88% of Terex stock. This indicates strong investor interest in the company, despite the recent downward trend in the stock price.
Terex reported $2.16 earnings per share for the second quarter, exceeding analyst expectations. However, revenue came in below estimates. Despite the mixed results, analysts remain optimistic about Terex’s future prospects, with a consensus rating of “Hold” and an average price target of $60.90.
The company recently announced a quarterly dividend of $0.17 per share, representing a yield of 1.28%. Director Andra Rush also purchased 2,205 shares of Terex stock in a recent transaction.
Terex Corporation is a global manufacturer of aerial work platforms and materials processing machinery. The company operates in two segments: Materials Processing and Aerial Work Platforms.
**Disclaimer:** This news article is based on publicly available information and should not be considered investment advice.
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