Great Lakes Advisors LLC Sells 12,043 Shares of Terex Corporation $TEX

Key Points

• Great Lakes Advisors LLC reduced its stake in Terex Corporation by 17.4% during the first quarter, following a sale of 12,043 shares, which leaves them with 56,998 shares valued at approximately $2.15 million.
• Several institutional investors, including UMB Bank and Private Trust Co. NA, have significantly increased their holdings in Terex, reflecting a growing interest as institutional ownership now stands at 92.88%.
• Wall Street analysts have raised their target prices for Terex stock, with outlooks ranging from $50.00 to $62.00, indicating a positive market sentiment about the company's growth prospects.

Great Lakes Advisors LLC lessened its position in Terex Corporation (NYSE:TEX - Free Report) by 17.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,998 shares of the industrial products company's stock after selling 12,043 shares during the quarter. Great Lakes Advisors LLC owned 0.09% of Terex worth $2,153,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new stake in Terex during the fourth quarter valued at about $29,000. UMB Bank n.a. boosted its position in Terex by 83.0% during the first quarter. UMB Bank n.a. now owns 732 shares of the industrial products company's stock valued at $28,000 after buying an additional 332 shares during the period. Private Trust Co. NA boosted 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. Hexagon Capital Partners LLC boosted its holdings in shares of Terex by 56.9% during the first quarter. Hexagon Capital Partners LLC now owns 847 shares of the industrial products company's stock worth $32,000 after purchasing an additional 307 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Terex by 88.1% during the first quarter. Fifth Third Bancorp now owns 905 shares of the industrial products company's stock worth $34,000 after purchasing an additional 424 shares during the period. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Terex Stock Down 1.8%

Shares of TEX traded down $0.96 on Tuesday, hitting $52.56. 128,185 shares of the stock traded hands, compared to its average volume of 921,059. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.11 and a current ratio of 2.08. Terex Corporation has a one year low of $31.53 and a one year high of $58.66. The company has a market capitalization of $3.45 billion, a PE ratio of 19.61, a P/E/G ratio of 5.31 and a beta of 1.65. The business has a 50 day simple moving average of $50.81 and a 200 day simple moving average of $44.80.

Terex (NYSE:TEX - Get Free Report) last posted its earnings results on Thursday, July 31st. The industrial products company reported $1.49 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 business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the firm posted $2.16 EPS. The firm's revenue was up 7.6% on a year-over-year basis. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. As a group, equities analysts forecast that Terex Corporation will post 4.83 earnings per share for the current fiscal 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 given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, August 11th. Terex's payout ratio is 25.37%.

Insider Buying and Selling

In other Terex news, VP Scott Posner sold 5,000 shares of Terex stock in a transaction that occurred on 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 of the company's stock, valued at approximately $3,550,554. The trade was a 6.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TEX. The Goldman Sachs Group upgraded shares of Terex from a "neutral" rating to a "buy" rating and increased their target price for the stock from $45.00 to $60.00 in a report on Tuesday, May 27th. Truist Financial set a $62.00 target price on shares of Terex in a report on Monday, August 4th. UBS Group increased their target price on shares of Terex from $48.00 to $52.00 and gave the stock a "neutral" rating in a report on Thursday, July 10th. Wall Street Zen upgraded shares of Terex from a "hold" rating to a "buy" rating in a report on Friday, August 22nd. Finally, JPMorgan Chase & Co. increased their target price 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 investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Terex has an average rating of "Moderate Buy" and an average price target of $52.22.

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.