Rhumbline Advisers Lowers Position in Terex Corporation $TEX

Key Points

• Rhumbline Advisers has reduced its stake in Terex Corporation by 3.8%, now owning approximately 0.34% of the company, valued at $8.5 million.
• Multiple research analysts have upgraded Terex's stock ratings, with Goldman Sachs boosting its price target from $45 to $60, indicating a shift towards a more positive outlook.
• Terex announced a quarterly dividend of $0.17 per share, reflecting a 1.3% yield, which corresponds to a payout ratio of 25.37%.

Rhumbline Advisers trimmed its stake in Terex Corporation (NYSE:TEX - Free Report) by 3.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 224,967 shares of the industrial products company's stock after selling 8,996 shares during the quarter. Rhumbline Advisers owned about 0.34% of Terex worth $8,499,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TEX. UMB Bank n.a. grew its holdings 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 during the period. Neo Ivy Capital Management purchased a new stake in Terex in the fourth quarter valued at approximately $29,000. Private Trust Co. NA grew its stake 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 buying an additional 434 shares during the period. Strs Ohio purchased a new stake in Terex during the first quarter worth approximately $30,000. Finally, Hexagon Capital Partners LLC grew its stake 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 buying an additional 307 shares during the period. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TEX shares. Wall Street Zen upgraded shares of Terex from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Truist Financial set a $62.00 price objective on shares of Terex in a research note on Monday, August 4th. UBS Group boosted their price objective on shares of Terex from $48.00 to $52.00 and gave the stock a "neutral" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of Terex from $43.00 to $50.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Finally, 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 research note on Tuesday, May 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $52.22.

Terex Price Performance

Shares of TEX stock opened at $53.20 on Friday. The company has a market capitalization of $3.49 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 5.29 and a beta of 1.65. The firm has a fifty day simple moving average of $50.67 and a 200-day simple moving average of $44.60. The company has a current ratio of 2.08, a quick ratio of 1.11 and a debt-to-equity ratio of 1.31. 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 announced its earnings results 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. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. Terex had a net margin of 3.46% and a return on equity of 15.95%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.16 earnings per share. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. Equities research analysts anticipate that Terex Corporation will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.68 annualized dividend and a yield of 1.3%. Terex's dividend payout ratio is currently 25.37%.

Insider Transactions at Terex

In related 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 sale, the vice president directly owned 70,308 shares of the company's stock, valued at $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 is accessible through this link. 1.90% of the stock is owned by corporate insiders.

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.

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