Livforsakringsbolaget Skandia Omsesidigt Sells 9,100 Shares of Terex Corporation $TEX

Key Points

• Livforsakringsbolaget Skandia Omsesidigt reduced its stake in Terex Corporation (NYSE:TEX) by 27.3%, owning 24,200 shares valued at approximately $1.13 million after selling 9,100 shares.
• Several hedge funds increased their stakes, with UMB Bank raising its position by 83%, reflecting growing institutional interest in Terex as 92.88% of the stock is owned by institutional investors.
• Terex's latest financial report showed earnings per share (EPS) of $1.49, exceeding estimates, and it declared a quarterly dividend of $0.17 per share, indicating a dividend yield of 1.3%.

Livforsakringsbolaget Skandia Omsesidigt cut its position in shares of Terex Corporation (NYSE:TEX - Free Report) by 27.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,200 shares of the industrial products company's stock after selling 9,100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Terex were worth $1,130,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Rise Advisors LLC grew its position in shares of Terex by 65.3% in the second quarter. Rise Advisors LLC now owns 610 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 241 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in Terex by 56.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 847 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 307 shares in the last quarter. UMB Bank n.a. lifted its position in shares of 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 during the period. Fifth Third Bancorp raised its position in shares of Terex by 88.1% during the 1st quarter. Fifth Third Bancorp now owns 905 shares of the industrial products company's stock worth $34,000 after purchasing an additional 424 shares during the last quarter. Finally, Private Trust Co. NA raised its position 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 during the last quarter. 92.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Terex Trading Down 2.5%

NYSE TEX traded down $1.34 on Friday, reaching $52.03. 1,502,568 shares of the company were exchanged, compared to its average volume of 729,526. Terex Corporation has a fifty-two week low of $31.53 and a fifty-two week high of $58.66. The business's fifty day moving average price is $50.88 and its 200 day moving average price is $45.15. The stock has a market capitalization of $3.41 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 5.24 and a beta of 1.65. 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 (NYSE:TEX - Get Free Report) last issued 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. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.46 billion. Terex had a return on equity of 15.95% and a net margin of 3.46%.Terex's revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.16 EPS. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. Analysts forecast that Terex Corporation will post 4.83 earnings per share for the current year.

Terex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Monday, August 11th were given a $0.17 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.68 annualized dividend and a yield of 1.3%. Terex's dividend payout ratio (DPR) is currently 25.37%.

Insider Buying and Selling

In other Terex news, VP Scott Posner sold 5,000 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $3,550,554. The trade was a 6.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.90% of the company's stock.

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.