Northern Trust Corp Sells 25,017 Shares of Terex Corporation $TEX

Key Points

• Northern Trust Corp reduced its stake in Terex Corporation by 2.8%, owning 868,597 shares worth approximately $32.8 million after selling 25,017 shares in Q1.
• Multiple analysts have upgraded Terex's stock rating, with price targets raised to as high as $66, reflecting increased optimism about its performance.
• Terex announced a quarterly dividend of $0.17 per share, representing an annualized yield of 1.4%, set to be paid on September 19th to shareholders on record as of August 11th.

Northern Trust Corp trimmed its stake in Terex Corporation (NYSE:TEX - Free Report) by 2.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 868,597 shares of the industrial products company's stock after selling 25,017 shares during the quarter. Northern Trust Corp owned about 1.31% of Terex worth $32,816,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its position 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 acquiring an additional 332 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Terex during the fourth quarter worth approximately $29,000. Private Trust Co. NA increased its position in shares of Terex by 128.0% in 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. Hexagon Capital Partners LLC increased its holdings in Terex by 56.9% in the first quarter. Hexagon Capital Partners LLC now owns 847 shares of the industrial products company's stock valued at $32,000 after buying an additional 307 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of Terex by 88.1% in 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 during the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Robert W. Baird upgraded Terex from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $48.00 to $66.00 in a research note on Tuesday, May 13th. Wall Street Zen raised Terex from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Evercore ISI lifted their price objective on shares of Terex from $59.00 to $62.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. The Goldman Sachs Group upgraded Terex from a "neutral" rating to a "buy" rating and increased their target price for the company from $45.00 to $60.00 in a research note on Tuesday, May 27th. Finally, Truist Financial set a $62.00 price target on shares of Terex in a research note on Monday, August 4th. One research 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $52.22.

Terex Stock Performance

NYSE TEX traded down $0.85 during trading on Wednesday, reaching $49.06. The company's stock had a trading volume of 214,520 shares, compared to its average volume of 932,863. The firm has a 50 day moving average price of $50.13 and a 200 day moving average price of $44.27. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 5.03 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 Corporation has a 12 month low of $31.53 and a 12 month high of $58.66.

Terex (NYSE:TEX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.44 by $0.05. Terex had a net margin of 3.46% and a return on equity of 15.95%. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the previous year, the business earned $2.16 earnings per share. The company's revenue was up 7.6% on a year-over-year basis. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. As a group, equities analysts anticipate that Terex Corporation will post 4.83 EPS for the current fiscal year.

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.68 annualized dividend and a dividend yield of 1.4%. Terex's dividend payout ratio (DPR) is presently 25.37%.

Insider Activity at Terex

In other news, VP Scott Posner sold 5,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $50.50, for a total value of $252,500.00. Following the completion of the sale, the vice president 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company 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.