Federated Hermes Inc. Sells 196,224 Shares of Terex Corporation (NYSE:TEX)

Key Points

• Federated Hermes Inc. reduced its stake in Terex Corporation by 97.6% during the first quarter, holding only 4,885 shares worth $185,000 at the end of the period.
• Terex reported a quarterly EPS of $1.49, exceeding analysts' expectations, with a net margin of 3.46% and a revenue increase of 7.6% compared to the same quarter last year.
• The company declared a quarterly dividend of $0.17, expected to be paid out on September 19th, with a dividend yield of 1.4%.

Federated Hermes Inc. lowered its stake in Terex Corporation (NYSE:TEX - Free Report) by 97.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,885 shares of the industrial products company's stock after selling 196,224 shares during the period. Federated Hermes Inc.'s holdings in Terex were worth $185,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TEX. Envestnet Asset Management Inc. increased its holdings in shares of Terex by 0.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 36,671 shares of the industrial products company's stock valued at $1,695,000 after purchasing an additional 237 shares in the last quarter. Bank of Montreal Can boosted its stake in Terex by 5.4% in the fourth quarter. Bank of Montreal Can now owns 11,771 shares of the industrial products company's stock valued at $544,000 after acquiring an additional 604 shares during the last quarter. Advisory Services Network LLC bought a new position in Terex in the fourth quarter valued at approximately $527,000. Raymond James Financial Inc. bought a new position in Terex in the fourth quarter valued at approximately $2,291,000. Finally, Capital Fund Management S.A. boosted its stake in Terex by 28.7% in the fourth quarter. Capital Fund Management S.A. now owns 63,788 shares of the industrial products company's stock valued at $2,948,000 after acquiring an additional 14,209 shares during the last quarter. Institutional investors and hedge funds own 92.88% of the company's stock.

Wall Street Analyst Weigh In

TEX has been the topic of a number of recent research reports. The Goldman Sachs Group raised shares of Terex from a "neutral" rating to a "buy" rating and raised their price objective for the company from $45.00 to $60.00 in a research note on Tuesday, May 27th. Robert W. Baird raised shares of Terex from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $48.00 to $66.00 in a research report on Tuesday, May 13th. Baird R W raised shares of Terex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Wall Street Zen raised shares of Terex from a "sell" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Terex from $43.00 to $50.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 10th. Six equities 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $52.22.

Terex Stock Performance

Shares of Terex stock traded down $0.72 during trading on Thursday, hitting $51.84. 525,612 shares of the stock were exchanged, compared to its average volume of 954,435. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 5.11 and a beta of 1.62. The company has a fifty day moving average price of $48.89 and a 200-day moving average price of $43.87. Terex Corporation has a 1-year low of $31.53 and a 1-year high of $58.66. The company has a current ratio of 2.08, a quick ratio of 1.11 and a debt-to-equity ratio of 1.31.

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

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, August 11th. This represents a $0.68 annualized dividend and a dividend yield of 1.3%. Terex's payout ratio is currently 25.37%.

Insider Buying and Selling at Terex

In other news, VP Scott Posner sold 5,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $50.50, for a total transaction of $252,500.00. Following the transaction, the vice president directly owned 70,308 shares in the company, valued at $3,550,554. The trade was a 6.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is owned by corporate insiders.

Terex 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.