Terex Co. (NYSE:TEX) declared a quarterly dividend on Friday, October 12th, RTT News reports. Shareholders of record on Friday, November 9th will be given a dividend of 0.10 per share by the industrial products company on Wednesday, December 19th. This represents a $0.40 annualized dividend and a yield of 1.10%.
Terex has raised its dividend by an average of 17.0% annually over the last three years and has raised its dividend every year for the last 4 years. Terex has a payout ratio of 13.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Terex to earn $3.75 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 10.7%.
NYSE:TEX opened at $36.29 on Friday. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 0.59 and a beta of 1.52. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.11 and a quick ratio of 1.19. Terex has a 1 year low of $35.30 and a 1 year high of $50.17.
Terex (NYSE:TEX) last released its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.08. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Terex had a return on equity of 16.66% and a net margin of 2.91%. As a group, sell-side analysts anticipate that Terex will post 2.9 EPS for the current year.
Terex declared that its Board of Directors has authorized a share repurchase plan on Thursday, July 12th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the industrial products company to reacquire up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of research analysts have recently weighed in on the company. Zacks Investment Research cut Terex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Seaport Global Securities set a $49.00 price target on Terex and gave the company a “buy” rating in a research report on Friday, July 13th. ValuEngine upgraded Terex from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. Bank of America raised their price target on Terex from $36.00 to $40.00 and gave the company an “underperform” rating in a research report on Wednesday, August 1st. Finally, Jefferies Financial Group upgraded Terex from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $45.50.
In related news, insider Kevin A. Barr sold 11,937 shares of Terex stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $38.43, for a total transaction of $458,738.91. Following the completion of the sale, the insider now owns 101,980 shares in the company, valued at approximately $3,919,091.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kevin A. Barr sold 10,000 shares of Terex stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $39.65, for a total value of $396,500.00. Following the sale, the insider now owns 113,908 shares of the company’s stock, valued at approximately $4,516,452.20. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 1,344 shares of company stock valued at $52,633 and have sold 38,866 shares valued at $1,514,531. Company insiders own 3.50% of the company’s stock.
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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