LVZ Inc. Has $309,000 Stock Holdings in Terex Co. (NYSE:TEX)

Financial News Live · Mar 22, 2023 22:54

LVZ Inc. grew its holdings in Terex Co. (NYSE:TEX – Get Rating) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,237 shares of the industrial products company's stock after purchasing an additional 303 shares during the quarter. LVZ Inc.'s holdings in Terex were worth $309,000 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. Teza Capital Management LLC raised its stake in Terex by 35.4% during the 3rd quarter. Teza Capital Management LLC now owns 11,958 shares of the industrial products company's stock worth $356,000 after buying an additional 3,124 shares during the period. Capital Fund Management S.A. raised its stake in Terex by 69.4% during the 3rd quarter. Capital Fund Management S.A. now owns 22,060 shares of the industrial products company's stock worth $656,000 after buying an additional 9,041 shares during the period. Fox Run Management L.L.C. acquired a new position in Terex during the 3rd quarter worth approximately $263,000. Comerica Bank raised its stake in Terex by 1.8% during the 3rd quarter. Comerica Bank now owns 48,695 shares of the industrial products company's stock worth $1,662,000 after buying an additional 880 shares during the period. Finally, Waterfront Wealth Inc. raised its stake in Terex by 45.9% during the 3rd quarter. Waterfront Wealth Inc. now owns 29,865 shares of the industrial products company's stock worth $1,107,000 after buying an additional 9,392 shares during the period. 87.37% of the stock is owned by institutional investors and hedge funds.

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Terex Stock Performance

NYSE TEX traded down $0.13 on Wednesday, hitting $49.15. 48,657 shares of the stock traded hands, compared to its average volume of 919,103. The business's fifty day moving average is $52.71 and its two-hundred day moving average is $43.64. Terex Co. has a 12 month low of $26.64 and a 12 month high of $60.85. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 0.49 and a beta of 1.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.97 and a current ratio of 1.96.

Terex (NYSE:TEX – Get Rating) last announced its quarterly earnings data on Friday, February 10th. The industrial products company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.21. Terex had a return on equity of 27.44% and a net margin of 6.79%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the company earned $0.82 earnings per share. Terex's revenue was up 23.0% compared to the same quarter last year. As a group, equities analysts anticipate that Terex Co. will post 4.89 EPS for the current fiscal year.

Terex announced that its Board of Directors has initiated a share buyback program on Monday, December 19th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Terex Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 20th. Shareholders of record on Thursday, March 9th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.22%. This is a positive change from Terex's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Wednesday, March 8th. Terex's dividend payout ratio is 13.82%.

Insider Buying and Selling at Terex

In other Terex news, CAO Stephen Johnston sold 2,428 shares of the stock in a transaction on Monday, February 13th. The stock was sold at an average price of $55.51, for a total transaction of $134,778.28. Following the completion of the transaction, the chief accounting officer now directly owns 12,340 shares of the company's stock, valued at $684,993.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Stephen Johnston sold 2,428 shares of the firm's stock in a transaction on Monday, February 13th. The stock was sold at an average price of $55.51, for a total value of $134,778.28. Following the completion of the transaction, the chief accounting officer now directly owns 12,340 shares of the company's stock, valued at $684,993.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John L. Garrison, Jr. sold 150,000 shares of the firm's stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $56.16, for a total value of $8,424,000.00. Following the completion of the transaction, the chief executive officer now directly owns 646,609 shares of the company's stock, valued at $36,313,561.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 374,481 shares of company stock valued at $21,446,276. Company insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. The Goldman Sachs Group increased their price objective on Terex from $39.00 to $43.00 and gave the stock a "neutral" rating in a research note on Thursday, December 15th. JPMorgan Chase & Co. increased their price objective on Terex from $48.00 to $55.00 and gave the stock an "overweight" rating in a research note on Monday, February 13th. Morgan Stanley increased their price objective on Terex from $52.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Monday, February 13th. Credit Suisse Group increased their price objective on Terex from $50.00 to $59.00 and gave the stock a "neutral" rating in a research note on Monday, February 13th. Finally, Bank of America downgraded Terex from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $66.00 to $54.00 in a research note on Friday, March 17th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $55.45.

Terex Company Profile

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Terex Corp. engages in the manufacturing of aerial work platforms, cranes, and materials processing machinery. It operates through the Material Processing and Aerial Work Platforms segments. The Materials Processing segment designs, manufactures, services and markets materials processing and equipment, including crushers, washing systems, screens, 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 their related components and replacement parts.