Front Street Capital Management Inc. Sells 23,581 Shares of Terex Corporation $TEX

Key Points

• Front Street Capital Management Inc. has reduced its holdings in Terex Corporation by 8.3%, now owning approximately $9.85 million in shares, making it the 16th largest position in their investment portfolio.
• In the first quarter, several institutional investors increased their stakes in Terex, with Millennium Management LLC raising its stake by 1,086.3% to own 256,054 shares worth around $9.67 million.
• Research analysts have recently upgraded Terex, with Baird R W changing its rating from "hold" to "strong-buy" and boosting target prices to as high as $66.00.

Front Street Capital Management Inc. cut its stake in Terex Corporation (NYSE:TEX - Free Report) by 8.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 260,837 shares of the industrial products company's stock after selling 23,581 shares during the quarter. Terex makes up 1.9% of Front Street Capital Management Inc.'s portfolio, making the stock its 16th biggest holding. Front Street Capital Management Inc. owned 0.39% of Terex worth $9,854,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Petrus Trust Company LTA acquired a new position in shares of Terex in the first quarter worth $214,000. Millennium Management LLC increased 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 worth $9,674,000 after acquiring an additional 234,470 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Terex by 23.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 618,958 shares of the industrial products company's stock worth $23,385,000 after acquiring an additional 119,330 shares during the last quarter. Hancock Whitney Corp increased its stake in shares of Terex by 7.8% in the first quarter. Hancock Whitney Corp now owns 204,149 shares of the industrial products company's stock worth $7,713,000 after acquiring an additional 14,827 shares during the last quarter. Finally, Concentric Capital Strategies LP acquired a new position in shares of Terex in the first quarter worth $1,202,000. 92.88% of the stock is owned by institutional investors and hedge funds.

Terex Stock Performance

TEX stock traded down $1.46 during mid-day trading on Tuesday, reaching $51.23. 1,100,278 shares of the stock traded hands, compared to its average volume of 660,163. The company has a quick ratio of 1.11, a current ratio of 2.08 and a debt-to-equity ratio of 1.31. Terex Corporation has a 52 week low of $31.53 and a 52 week high of $58.66. The business has a 50-day moving average of $50.55 and a two-hundred day moving average of $44.46. The firm has a market capitalization of $3.36 billion, a PE ratio of 19.12, a P/E/G ratio of 5.31 and a beta of 1.65.

Terex (NYSE:TEX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same period in the prior year, the company earned $2.16 earnings per share. The business's quarterly revenue was up 7.6% compared to the same quarter last year. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. As a group, equities analysts predict that Terex Corporation will post 4.83 EPS for the current fiscal year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Monday, August 11th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, August 11th. Terex's dividend payout ratio (DPR) is presently 25.37%.

Insider Buying and Selling at Terex

In related 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 completion of the sale, the vice president owned 70,308 shares in the company, valued at approximately $3,550,554. This trade represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Evercore ISI upped their price objective on shares of Terex from $59.00 to $62.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Wall Street Zen upgraded shares of Terex from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Baird R W upgraded shares of Terex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. The Goldman Sachs Group upgraded shares of Terex from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $45.00 to $60.00 in a report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Terex from $43.00 to $50.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Terex currently has an average rating of "Moderate Buy" and an average price target of $52.22.

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.