Jupiter Asset Management Ltd. Sells 32,357 Shares of Terex Corporation (NYSE:TEX)

Key Points

• Jupiter Asset Management Ltd. has reduced its holdings in Terex Corporation by 26.9%, now owning 88,080 shares worth approximately $3.33 million after selling 32,357 shares.
• Terex recently reported earnings of $1.49 EPS for the quarter, exceeding analysts' estimates, with a 7.6% year-over-year increase in revenue.
• The company announced a quarterly dividend of $0.17 per share, reflecting an annual yield of 1.4%, with a payout ratio of 18.53%.

Jupiter Asset Management Ltd. trimmed its holdings in Terex Corporation (NYSE:TEX - Free Report) by 26.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 88,080 shares of the industrial products company's stock after selling 32,357 shares during the period. Jupiter Asset Management Ltd. owned about 0.13% of Terex worth $3,328,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in TEX. UMB Bank n.a. grew its stake 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 worth $28,000 after purchasing an additional 332 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Terex during the 4th quarter worth about $29,000. Private Trust Co. NA raised its stake in shares of Terex by 128.0% during the 1st 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 in the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Terex by 56.9% during the 1st 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 grew its holdings in Terex by 88.1% in the 1st quarter. Fifth Third Bancorp now owns 905 shares of the industrial products company's stock valued at $34,000 after buying an additional 424 shares during the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

Terex Stock Performance

Shares of TEX traded down $0.14 on Thursday, reaching $48.45. 647,900 shares of the company's stock traded hands, compared to its average volume of 965,185. The company has a current ratio of 2.08, a quick ratio of 1.11 and a debt-to-equity ratio of 1.31. The stock has a market cap of $3.18 billion, a PE ratio of 18.08, a PEG ratio of 4.98 and a beta of 1.62. The stock's 50 day simple moving average is $48.45 and its two-hundred day simple moving average is $43.83. Terex Corporation has a 52-week low of $31.53 and a 52-week high of $58.66.

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 for the quarter, topping 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 analysts' expectations of $1.46 billion. During the same quarter in the prior year, the firm posted $2.16 earnings per share. The business's quarterly revenue was up 7.6% on a year-over-year basis. On average, analysts forecast that Terex Corporation will post 4.83 earnings per share for the current fiscal year.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Monday, August 11th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, August 11th. Terex's payout ratio is presently 25.37%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley decreased their price objective on Terex from $43.00 to $30.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Truist Financial set a $62.00 target price on Terex in a research report on Monday. UBS Group raised their target price on Terex from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Evercore ISI lifted their price objective on Terex from $59.00 to $62.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Finally, Robert W. Baird upgraded Terex from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $48.00 to $66.00 in a research report on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.