Burney Co. Sells 14,799 Shares of Terex Corporation (NYSE:TEX)

Key Points

• Burney Co. reduced its stake in Terex Corporation by 45.2%, owning 17,949 shares worth $678,000 after selling 14,799 shares during the first quarter.
• Several large investors have recently altered their positions in Terex, with Universal Beteiligungs acquiring a new position valued at approximately $539,000 and Victory Capital Management increasing its stake by 14.0%.
• Terex's earnings exceeded expectations with an EPS of $0.83, and the company declared a quarterly dividend of $0.17 per share, representing an annualized yield of 1.30%.

Burney Co. lowered its stake in shares of Terex Corporation (NYSE:TEX - Free Report) by 45.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 17,949 shares of the industrial products company's stock after selling 14,799 shares during the period. Burney Co.'s holdings in Terex were worth $678,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TEX. UMB Bank n.a. grew its position in shares of Terex by 83.0% in the first quarter. UMB Bank n.a. now owns 732 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 332 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Terex in the 4th quarter valued at about $29,000. Private Trust Co. NA boosted its stake in shares of Terex by 128.0% in the 1st 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. Hexagon Capital Partners LLC lifted its position in Terex by 56.9% in the first quarter. Hexagon Capital Partners LLC now owns 847 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 307 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Terex by 88.1% in the first quarter. Fifth Third Bancorp now owns 905 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 424 shares during the period. Hedge funds and other institutional investors own 92.88% of the company's stock.

Insiders Place Their Bets

In other Terex news, insider Joshua Gross sold 5,389 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $40.75, for a total transaction of $219,601.75. Following the transaction, the insider directly owned 38,755 shares in the company, valued at $1,579,266.25. This trade represents a 12.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.

Terex Stock Down 1.0%

TEX traded down $0.54 during trading on Monday, reaching $51.76. 341,473 shares of the stock traded hands, compared to its average volume of 963,126. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 5.33 and a beta of 1.58. Terex Corporation has a fifty-two week low of $31.53 and a fifty-two week high of $67.15. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.11 and a quick ratio of 1.07. The stock's 50-day simple moving average is $47.87 and its two-hundred day simple moving average is $43.58.

Terex (NYSE:TEX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.26. The firm had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.26 billion. Terex had a return on equity of 18.79% and a net margin of 4.89%. The business's revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.60 earnings per share. As a group, equities research analysts expect that Terex Corporation will post 4.83 EPS for the current year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Monday, August 11th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.68 annualized dividend and a yield of 1.31%. Terex's dividend payout ratio (DPR) is currently 18.53%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TEX shares. JPMorgan Chase & Co. boosted their price target on shares of Terex from $43.00 to $50.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Baird R W upgraded Terex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Truist Financial boosted their price objective on shares of Terex from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. The Goldman Sachs Group upgraded shares of Terex from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $45.00 to $60.00 in a research note on Tuesday, May 27th. Finally, Wall Street Zen raised shares of Terex from a "sell" rating to a "hold" rating in a research note on Wednesday, May 21st. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.44.

Terex Company Profile

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.