Kovitz Investment Group Partners LLC Has $1.06 Million Stake in Terex Corporation $TEX

Key Points

• Kovitz Investment Group Partners LLC reduced its stake in Terex Corporation by 54.4%, selling 33,414 shares and holding 28,064 shares worth approximately $1,060,000.
• Terex's recent quarterly earnings exceeded analysts' expectations, reporting $1.49 EPS and revenue of $1.49 billion, marking a 7.6% year-over-year growth.
• The company declared a quarterly dividend of $0.17, with an annualized yield of 1.3%, and has a dividend payout ratio of 25.37%.

Kovitz Investment Group Partners LLC decreased its stake in shares of Terex Corporation (NYSE:TEX - Free Report) by 54.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,064 shares of the industrial products company's stock after selling 33,414 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Terex were worth $1,060,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of TEX. Wealth Enhancement Advisory Services LLC purchased a new stake in Terex during the 4th quarter worth about $59,179,000. Fuller & Thaler Asset Management Inc. boosted its position in shares of Terex by 94.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,150,673 shares of the industrial products company's stock valued at $99,404,000 after purchasing an additional 1,046,600 shares during the period. Nuveen LLC acquired a new stake in shares of Terex in the 1st quarter valued at about $6,985,000. Balyasny Asset Management L.P. boosted its position in shares of Terex by 66.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 352,780 shares of the industrial products company's stock valued at $16,305,000 after purchasing an additional 141,352 shares during the period. Finally, Paradoxiom Capital L.P. acquired a new stake in Terex during the 4th quarter worth approximately $5,862,000. Hedge funds and other institutional investors own 92.88% of the company's stock.

Insider Buying and Selling at Terex

In other news, VP Scott Posner sold 5,000 shares of the company's stock in a transaction 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 transaction, the vice president directly owned 70,308 shares of the company's stock, valued at approximately $3,550,554. This represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.90% of the company's stock.

Terex Stock Performance

Shares of NYSE TEX traded up $3.15 during midday trading on Friday, hitting $51.51. 755,984 shares of the company's stock were exchanged, compared to its average volume of 757,244. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.08 and a quick ratio of 1.11. The stock's 50 day moving average price is $49.36 and its 200-day moving average price is $44.01. The firm has a market cap of $3.38 billion, a P/E ratio of 19.22, a PEG ratio of 4.87 and a beta of 1.62. Terex Corporation has a twelve month low of $31.53 and a twelve month high of $58.66.

Terex (NYSE:TEX - Get Free Report) last released its earnings results on Thursday, July 31st. The industrial products company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.05. Terex had a return on equity of 15.95% and a net margin of 3.46%.The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the firm posted $2.16 earnings per share. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. Equities research analysts anticipate that Terex Corporation will post 4.83 EPS for the current year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, August 11th. Terex's payout ratio is 25.37%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TEX. The Goldman Sachs Group raised Terex from a "neutral" rating to a "buy" rating and raised their price target for the company from $45.00 to $60.00 in a report on Tuesday, May 27th. JPMorgan Chase & Co. raised their price objective on Terex from $43.00 to $50.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Baird R W raised Terex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. 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, UBS Group lifted their price objective on Terex from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Terex presently has an average rating of "Moderate Buy" and a consensus target price 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.