Victory Capital Management Inc. Grows Position in Terex Corporation (NYSE:TEX)

Victory Capital Management Inc. lifted its stake in shares of Terex Corporation (NYSE:TEX - Free Report) by 14.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 848,839 shares of the industrial products company's stock after acquiring an additional 104,554 shares during the quarter. Victory Capital Management Inc. owned approximately 1.28% of Terex worth $32,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TEX. Envestnet Asset Management Inc. grew its stake in shares of Terex by 0.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 36,671 shares of the industrial products company's stock valued at $1,695,000 after buying an additional 237 shares during the period. Barnett & Company Inc. increased its stake in Terex by 4.3% during the 4th quarter. Barnett & Company Inc. now owns 7,300 shares of the industrial products company's stock valued at $337,000 after purchasing an additional 300 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings 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 last quarter. UMB Bank n.a. lifted its stake in shares of 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 buying an additional 332 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Terex by 21.1% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,300 shares of the industrial products company's stock valued at $106,000 after buying an additional 400 shares during the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.

Terex Stock Up 1.0%

Shares of TEX stock traded up $0.51 during mid-day trading on Thursday, hitting $51.97. The company's stock had a trading volume of 775,877 shares, compared to its average volume of 812,609. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.07 and a current ratio of 2.11. Terex Corporation has a 52-week low of $31.53 and a 52-week high of $68.08. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 5.24 and a beta of 1.58. The business has a 50-day moving average price of $47.79 and a 200 day moving average price of $43.56.

Terex (NYSE:TEX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The industrial products company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.26. Terex had a net margin of 4.89% and a return on equity of 18.79%. The firm had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the previous year, the company earned $1.60 earnings per share. The firm's quarterly revenue was down 4.9% on a year-over-year basis. Research analysts predict that Terex Corporation will post 4.83 EPS for the current fiscal year.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Monday, August 11th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Monday, August 11th. Terex's dividend payout ratio (DPR) is presently 18.53%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Robert W. Baird upgraded shares of Terex from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $48.00 to $66.00 in a report on Tuesday, May 13th. The Goldman Sachs Group upgraded Terex from a "neutral" rating to a "buy" rating and increased their target price for the stock from $45.00 to $60.00 in a research report on Tuesday, May 27th. Truist Financial boosted their price objective on shares of Terex from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. JPMorgan Chase & Co. raised their price target on shares of Terex from $43.00 to $50.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Finally, Citigroup lowered their price objective on Terex from $45.00 to $36.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $51.44.

Insiders Place Their Bets

In other Terex news, insider Joshua Gross sold 5,389 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $40.75, for a total transaction of $219,601.75. Following the completion of the sale, the insider directly owned 38,755 shares in the company, valued at $1,579,266.25. The trade was a 12.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate 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.