Brandywine Global Investment Management LLC Sells 7,910 Shares of Terex Corporation (NYSE:TEX)

Key Points

• Brandywine Global Investment Management LLC reduced its stake in Terex Corporation by 3.8%, now owning approximately 202,874 shares valued at $7.67 million.
• Several institutional investors have increased their positions in Terex, with Fifth Third Bancorp growing its stake by 88.1% in the first quarter.
• Terex has recently reported earnings of $1.49 per share for the last quarter, exceeding analyst expectations, alongside a declared quarterly dividend of $0.17.

Brandywine Global Investment Management LLC lowered its stake in shares of Terex Corporation (NYSE:TEX - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 202,874 shares of the industrial products company's stock after selling 7,910 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.31% of Terex worth $7,665,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in Terex by 88.1% during the first quarter. Fifth Third Bancorp now owns 905 shares of the industrial products company's stock valued at $34,000 after buying an additional 424 shares during the period. Private Trust Co. NA grew its position in Terex by 128.0% during the first quarter. Private Trust Co. NA now owns 773 shares of the industrial products company's stock valued at $29,000 after buying an additional 434 shares during the period. Principal Financial Group Inc. grew its position in Terex by 1.6% during the first quarter. Principal Financial Group Inc. now owns 227,876 shares of the industrial products company's stock valued at $8,609,000 after buying an additional 3,525 shares during the period. GAMMA Investing LLC grew its position in Terex by 65.3% during the first quarter. GAMMA Investing LLC now owns 1,309 shares of the industrial products company's stock valued at $49,000 after buying an additional 517 shares during the period. Finally, Bank of Montreal Can grew its position in Terex by 5.4% during the fourth quarter. Bank of Montreal Can now owns 11,771 shares of the industrial products company's stock valued at $544,000 after buying an additional 604 shares during the period. Institutional investors own 92.88% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on TEX shares. Truist Financial set a $62.00 price target on shares of Terex in a research report on Monday, August 4th. Robert W. Baird upgraded shares of Terex from a "neutral" rating to an "outperform" rating and increased their price target for the company from $48.00 to $66.00 in a research report on Tuesday, May 13th. JPMorgan Chase & Co. upped their price objective on shares of Terex from $43.00 to $50.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Baird R W raised shares of Terex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, The Goldman Sachs Group raised shares of Terex from a "neutral" rating to a "buy" rating and upped their price objective for the company from $45.00 to $60.00 in a report on Tuesday, May 27th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $52.22.

Terex Trading Down 2.9%

Shares of Terex stock opened at $50.27 on Friday. Terex Corporation has a 12-month low of $31.53 and a 12-month high of $58.66. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 5.07 and a beta of 1.62. The company has a current ratio of 2.08, a quick ratio of 1.11 and a debt-to-equity ratio of 1.31. The company's 50-day moving average price is $49.09 and its 200-day moving average price is $43.89.

Terex (NYSE:TEX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.05. Terex had a net margin of 3.46% and a return on equity of 15.95%. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm posted $2.16 earnings per share. The company's revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts expect that Terex Corporation will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Monday, August 11th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, August 11th. Terex's dividend payout ratio is presently 25.37%.

Insider Activity

In other news, VP Scott Posner sold 5,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $50.50, for a total value of $252,500.00. Following the sale, the vice president directly owned 70,308 shares of the company's stock, valued at approximately $3,550,554. This represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.90% of the company's stock.

About Terex

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.

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