Terex Co. (TEX) VP Eric I. Cohen Sells 10,000 Shares of Stock

Terex Co. (NYSE:TEX) VP Eric I. Cohen sold 10,000 shares of the stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $39.01, for a total value of $390,100.00. Following the transaction, the vice president now owns 182,905 shares in the company, valued at approximately $7,135,124.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Eric I. Cohen also recently made the following trade(s):

  • On Friday, June 22nd, Eric I. Cohen sold 12,502 shares of Terex stock. The stock was sold at an average price of $40.40, for a total value of $505,080.80.

Shares of NYSE:TEX opened at $39.61 on Tuesday. The company has a market cap of $2.83 billion, a P/E ratio of 29.34, a P/E/G ratio of 0.57 and a beta of 1.57. Terex Co. has a 1 year low of $35.30 and a 1 year high of $50.17. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.19 and a current ratio of 2.11.

Terex (NYSE:TEX) last issued its quarterly earnings results on Tuesday, July 31st. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.08. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.40 billion. Terex had a return on equity of 16.66% and a net margin of 2.91%. analysts anticipate that Terex Co. will post 2.9 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 19th. Investors of record on Thursday, August 9th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Wednesday, August 8th. Terex’s dividend payout ratio is currently 29.63%.

Terex announced that its Board of Directors has initiated a share buyback program on Thursday, July 12th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

A number of brokerages have recently weighed in on TEX. Zacks Investment Research lowered Terex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Seaport Global Securities set a $49.00 target price on Terex and gave the stock a “buy” rating in a research note on Friday, July 13th. ValuEngine upgraded Terex from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Bank of America increased their target price on Terex from $36.00 to $40.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 1st. Finally, Jefferies Financial Group upgraded Terex from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Terex presently has a consensus rating of “Hold” and a consensus price target of $45.50.

A number of large investors have recently modified their holdings of TEX. BlackRock Inc. grew its position in Terex by 5.9% during the first quarter. BlackRock Inc. now owns 7,277,665 shares of the industrial products company’s stock worth $272,258,000 after buying an additional 404,164 shares in the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Terex in the 2nd quarter valued at $16,876,000. Bank of Montreal Can boosted its holdings in shares of Terex by 836.0% in the 2nd quarter. Bank of Montreal Can now owns 405,341 shares of the industrial products company’s stock valued at $17,101,000 after purchasing an additional 362,037 shares in the last quarter. UBS Group AG boosted its holdings in shares of Terex by 374.6% in the 1st quarter. UBS Group AG now owns 259,259 shares of the industrial products company’s stock valued at $9,698,000 after purchasing an additional 353,658 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Terex in the 1st quarter valued at $10,678,000. 98.73% of the stock is currently owned by institutional investors and hedge funds.

About Terex

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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