Terex Co. (NYSE:TEX) insider Matthew Fearon sold 30,306 shares of the stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $39.48, for a total value of $1,196,480.88. Following the completion of the sale, the insider now owns 114,664 shares of the company’s stock, valued at $4,526,934.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Terex Co. (NYSE TEX) traded up $0.13 during trading on Friday, reaching $38.94. The company had a trading volume of 1,510,250 shares, compared to its average volume of 1,579,106. The firm has a market capitalization of $3,159.00, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 0.96 and a beta of 1.76. Terex Co. has a 12-month low of $28.67 and a 12-month high of $50.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.36 and a current ratio of 2.30.
Terex (NYSE:TEX) last posted its earnings results on Wednesday, February 14th. The industrial products company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.25 by $0.08. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $999.18 million. Terex had a return on equity of 8.80% and a net margin of 2.95%. sell-side analysts anticipate that Terex Co. will post 2.51 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Friday, March 9th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.03%. This is a positive change from Terex’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, March 8th. Terex’s dividend payout ratio (DPR) is 29.63%.
Terex announced that its board has approved a stock repurchase program on Wednesday, February 7th that authorizes the company to buyback $325.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of institutional investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB acquired a new stake in Terex during the fourth quarter worth about $398,000. MetLife Investment Advisors LLC acquired a new stake in Terex during the fourth quarter worth about $2,438,000. LPL Financial LLC acquired a new stake in Terex during the fourth quarter worth about $211,000. Millennium Management LLC grew its holdings in Terex by 93.0% during the fourth quarter. Millennium Management LLC now owns 551,612 shares of the industrial products company’s stock worth $26,599,000 after acquiring an additional 265,755 shares during the period. Finally, Flinton Capital Management LLC grew its holdings in Terex by 11.8% during the fourth quarter. Flinton Capital Management LLC now owns 17,102 shares of the industrial products company’s stock worth $825,000 after acquiring an additional 1,802 shares during the period. 97.83% of the stock is currently owned by hedge funds and other institutional investors.
TEX has been the subject of several research analyst reports. Zacks Investment Research upgraded Terex from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective for the company in a research note on Monday, February 19th. Deutsche Bank reduced their price objective on Terex from $49.00 to $48.00 and set a “hold” rating for the company in a research note on Thursday, February 15th. Robert W. Baird restated a “buy” rating and issued a $52.00 price objective on shares of Terex in a research note on Thursday, December 21st. OTR Global upgraded Terex to a “positive” rating in a research note on Tuesday, December 5th. Finally, TheStreet cut Terex from a “b” rating to a “c” rating in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Terex currently has a consensus rating of “Hold” and an average target price of $45.27.
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Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries.
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