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 lowered its stake in shares of Terex Corporation (NYSE:TEX - Free Report) by 17.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,998 shares of the industrial products company's stock after selling 12,043 shares during the quarter. Great Lakes Advisors LLC owned about 0.09% of Terex worth $2,153,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Neo Ivy Capital Management bought a new stake in shares of Terex during the 4th quarter valued at $29,000. UMB Bank n.a. raised its stake in 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. Private Trust Co. NA lifted 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 worth $29,000 after purchasing an additional 434 shares during the period. Hexagon Capital Partners LLC lifted its position in 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 grew its stake in 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 buying an additional 424 shares in the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Terex

In related news, VP Scott Posner sold 5,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $50.50, for a total value of $252,500.00. Following the transaction, the vice president directly owned 70,308 shares in the company, valued at $3,550,554. This trade represents a 6.64% decrease in their position. The sale 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 insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TEX shares. JPMorgan Chase & Co. boosted their target price on shares of Terex from $43.00 to $50.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. Truist Financial set a $62.00 price objective on shares of Terex in a research report on Monday, August 4th. UBS Group upped their target price on Terex from $48.00 to $52.00 and gave the stock a "neutral" rating in a research note on Thursday, July 10th. The Goldman Sachs Group upgraded Terex from a "neutral" rating to a "buy" rating and lifted their price target for the company from $45.00 to $60.00 in a research note on Tuesday, May 27th. Finally, Evercore ISI upped their price objective on Terex from $59.00 to $62.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $52.22.

Terex Stock Performance

Terex stock opened at $52.53 on Thursday. The business has a 50 day moving average of $50.60 and a 200-day moving average of $44.52. The company has a market capitalization of $3.45 billion, a P/E ratio of 19.60, a P/E/G ratio of 5.16 and a beta of 1.65. Terex Corporation has a 1 year low of $31.53 and a 1 year high of $58.66. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.08 and a quick ratio of 1.11.

Terex (NYSE:TEX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.49 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $1.46 billion. During the same quarter in the prior year, the business 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. On average, equities research analysts predict that Terex Corporation will post 4.83 earnings per share for the current year.

Terex Dividend Announcement

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 issued 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%.

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.

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