Terex (NYSE:TEX) insider Matthew Fearon sold 30,306 shares of the firm’s 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 transaction, the insider now owns 114,664 shares of the company’s stock, valued at approximately $4,526,934.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NYSE TEX opened at $36.11 on Friday. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $3,034.26, a price-to-earnings ratio of 26.75, a PEG ratio of 0.92 and a beta of 1.80. Terex has a 1 year low of $30.89 and a 1 year high of $50.17.
Terex (NYSE:TEX) last announced its quarterly earnings data on Wednesday, February 14th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.08. Terex had a net margin of 2.95% and a return on equity of 8.80%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $999.18 million. sell-side analysts predict that Terex will post 2.51 earnings per share for the current fiscal year.
Terex announced that its board has authorized a stock buyback plan on Wednesday, February 7th that authorizes the company to buyback $325.00 million in shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Monday, March 19th. Stockholders of record on Friday, March 9th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Thursday, March 8th. This is an increase from Terex’s previous quarterly dividend of $0.08. Terex’s payout ratio is currently 29.63%.
Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its stake in shares of Terex by 388.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 2,028 shares in the last quarter. Landaas & Co. WI ADV raised its stake in shares of Terex by 602.6% during the fourth quarter. Landaas & Co. WI ADV now owns 3,513 shares of the industrial products company’s stock valued at $169,000 after acquiring an additional 3,013 shares in the last quarter. Investors Research Corp bought a new stake in shares of Terex during the fourth quarter valued at approximately $203,000. LPL Financial LLC bought a new stake in shares of Terex during the fourth quarter valued at approximately $211,000. Finally, Pacer Advisors Inc. raised its stake in shares of Terex by 450.2% during the third quarter. Pacer Advisors Inc. now owns 4,446 shares of the industrial products company’s stock valued at $200,000 after acquiring an additional 3,638 shares in the last quarter. 97.80% of the stock is owned by hedge funds and other institutional investors.
TEX has been the subject of several recent research reports. Zacks Investment Research upgraded Terex from a “hold” rating to a “strong-buy” rating and set a $50.00 price target for the company in a research report on Monday, February 19th. Deutsche Bank dropped their price target on Terex from $49.00 to $48.00 and set a “hold” rating for the company in a research report on Thursday, February 15th. Robert W. Baird reiterated a “buy” rating and issued a $52.00 price target on shares of Terex in a research report on Thursday, December 21st. ValuEngine upgraded Terex from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, TheStreet lowered Terex from a “b” rating to a “c” rating in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Terex has a consensus rating of “Hold” and a consensus target price of $45.27.
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Terex Company Profile
Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.
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