Rhumbline Advisers Decreases Stake 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 reduced its position in shares of Terex Corporation (NYSE:TEX - Free Report) by 3.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 224,967 shares of the industrial products company's stock after selling 8,996 shares during the quarter. Rhumbline Advisers owned 0.34% of Terex worth $8,499,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Terex in the fourth quarter worth approximately $59,179,000. Millennium Management LLC grew its stake in shares of Terex by 1,086.3% in the first quarter. Millennium Management LLC now owns 256,054 shares of the industrial products company's stock worth $9,674,000 after acquiring an additional 234,470 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of Terex by 8.8% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,338,868 shares of the industrial products company's stock worth $88,362,000 after acquiring an additional 188,195 shares during the period. Nuveen LLC bought a new stake in shares of Terex in the first quarter worth approximately $6,985,000. Finally, Tema Etfs LLC grew its stake in shares of Terex by 235.5% in the first quarter. Tema Etfs LLC now owns 206,485 shares of the industrial products company's stock worth $7,801,000 after acquiring an additional 144,941 shares during the period. 92.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TEX shares. Truist Financial set a $62.00 price target on shares of Terex in a research note on Monday, August 4th. UBS Group lifted their target price on shares of Terex from $48.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday, July 10th. The Goldman Sachs Group raised shares of Terex from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $45.00 to $60.00 in a report on Tuesday, May 27th. Wall Street Zen raised shares of Terex from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Terex from $43.00 to $50.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.22.

Insider Activity at Terex

In other Terex news, VP Scott Posner sold 5,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $50.50, for a total transaction of $252,500.00. Following the completion of the sale, 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 filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.90% of the company's stock.

Terex Stock Up 1.3%

NYSE:TEX traded up $0.67 during mid-day trading on Wednesday, reaching $53.61. The company's stock had a trading volume of 193,824 shares, compared to its average volume of 920,293. Terex Corporation has a 1 year low of $31.53 and a 1 year high of $58.66. The stock has a fifty day moving average of $50.86 and a 200-day moving average of $44.85. The firm has a market capitalization of $3.52 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 5.39 and a beta of 1.65. The company has a quick ratio of 1.11, a current ratio of 2.08 and a debt-to-equity ratio of 1.31.

Terex (NYSE:TEX - Get Free Report) last released its quarterly earnings data 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 net margin of 3.46% and a return on equity of 15.95%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the firm earned $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 forecast that Terex Corporation will post 4.83 earnings per share for the current year.

Terex Announces Dividend

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