KBC Group NV Sells 6,367 Shares of Terex Corporation (NYSE:TEX)

KBC Group NV lessened its position in Terex Corporation (NYSE:TEX - Free Report) by 66.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,223 shares of the industrial products company's stock after selling 6,367 shares during the quarter. KBC Group NV's holdings in Terex were worth $122,000 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 position in shares of Terex in the fourth quarter worth about $29,000. Jones Financial Companies Lllp bought a new stake in Terex during the 4th quarter valued at approximately $31,000. Smartleaf Asset Management LLC boosted its position in Terex by 46.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 222 shares in the last quarter. UMB Bank n.a. boosted its position in Terex by 83.0% during the 1st quarter. UMB Bank n.a. now owns 732 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 332 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in Terex by 88.1% during the 1st quarter. Fifth Third Bancorp now owns 905 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 424 shares in the last quarter. Institutional investors own 92.88% of the company's stock.

Terex Stock Down 1.4%

TEX opened at $49.11 on Tuesday. The firm has a 50-day simple moving average of $45.26 and a two-hundred day simple moving average of $43.05. Terex Corporation has a 52 week low of $31.53 and a 52 week high of $68.08. The company has a market capitalization of $3.26 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 5.24 and a beta of 1.58. The company has a quick ratio of 1.07, a current ratio of 2.11 and a debt-to-equity ratio of 1.40.

Terex (NYSE:TEX - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The industrial products company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.26. Terex had a net margin of 4.89% and a return on equity of 18.79%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm earned $1.60 EPS. The firm's revenue for the quarter was down 4.9% compared to the same quarter last year. Analysts forecast that Terex Corporation will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Friday, June 6th. Terex's dividend payout ratio (DPR) is presently 18.53%.

Insider Activity at Terex

In other news, insider Joshua Gross sold 5,389 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $40.75, for a total transaction of $219,601.75. Following the transaction, the insider directly owned 38,755 shares in the company, valued at approximately $1,579,266.25. This trade represents a 12.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

TEX has been the subject of a number of recent analyst reports. The Goldman Sachs Group upgraded shares of Terex from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $45.00 to $60.00 in a report on Tuesday, May 27th. Wall Street Zen upgraded shares of Terex from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Truist Financial boosted their price objective on shares of Terex from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Robert W. Baird upgraded shares of Terex from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $48.00 to $66.00 in a report on Tuesday, May 13th. Finally, UBS Group upgraded shares of Terex from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $34.00 to $48.00 in a report on Friday, May 16th. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $51.40.

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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