Invesco Ltd. Cuts Stake in Terex Corporation $TEX

Invesco Ltd. cut its stake in shares of Terex Corporation (NYSE:TEX) by 67.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 399,192 shares of the industrial products company’s stock after selling 813,489 shares during the quarter. Invesco Ltd. owned about 0.60% of Terex worth $15,081,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TEX. Neo Ivy Capital Management purchased a new stake in Terex during the 4th quarter valued at about $29,000. 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 worth $28,000 after buying an additional 332 shares in the last quarter. Private Trust Co. NA lifted its stake in shares of Terex by 128.0% in 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 in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Terex by 56.9% during 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 position in shares of Terex by 88.1% during the first 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 in the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Terex Stock Up 6.5%

Terex stock opened at $51.51 on Friday. Terex Corporation has a one year low of $31.53 and a one year high of $58.66. The stock has a fifty day moving average of $49.36 and a 200 day moving average of $44.01. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.11 and a current ratio of 2.08. The stock has a market cap of $3.38 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 4.87 and a beta of 1.62.

Terex (NYSE:TEX) last released its quarterly earnings results on Thursday, July 31st. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.05. Terex had a return on equity of 15.95% and a net margin of 3.46%.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 company posted $2.16 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. Terex has set its FY 2025 guidance at 4.700-5.100 EPS. As a group, sell-side analysts predict that Terex Corporation will post 4.83 EPS for the current year.

Terex Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 1.3%. The ex-dividend date is Monday, August 11th. Terex’s payout ratio is 25.37%.

Analysts Set New Price Targets

TEX has been the topic of several analyst reports. Robert W. Baird raised Terex from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $48.00 to $66.00 in a research report on Tuesday, May 13th. UBS Group boosted their price target on Terex from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 10th. The Goldman Sachs Group raised Terex from a “neutral” rating to a “buy” rating and upped their price target for the company from $45.00 to $60.00 in a report on Tuesday, May 27th. Wall Street Zen raised Terex from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Evercore ISI boosted their target price on Terex from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $52.22.

Insider Buying and Selling

In other Terex news, VP Scott Posner sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the vice president directly owned 70,308 shares in the company, valued at approximately $3,550,554. This trade represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

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.