Terex Corporation (NYSE:TEX) has received a consensus recommendation of “Hold” from the twenty analysts that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $35.63.
Several equities analysts have commented on the stock. Seaport Global Securities increased their target price on shares of Terex Corporation from $30.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, May 4th. BidaskClub raised shares of Terex Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research raised shares of Terex Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, March 25th. Bank of America Corporation downgraded shares of Terex Corporation from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research report on Friday, April 28th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $33.00 target price on shares of Terex Corporation in a research report on Monday, June 5th.
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In other Terex Corporation news, SVP Kevin Bradley sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $38.23, for a total transaction of $114,690.00. Following the completion of the transaction, the senior vice president now owns 48,612 shares in the company, valued at $1,858,436.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Steve Filipov sold 7,395 shares of the firm’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $33.08, for a total transaction of $244,626.60. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 1,301 shares of company stock valued at $44,893 and have sold 75,903 shares valued at $2,629,667. 2.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. M&T Bank Corp boosted its position in shares of Terex Corporation by 1.5% in the first quarter. M&T Bank Corp now owns 8,905 shares of the industrial products company’s stock worth $279,000 after buying an additional 130 shares in the last quarter. Liberty Mutual Group Asset Management Inc. raised its stake in Terex Corporation by 0.4% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 47,951 shares of the industrial products company’s stock valued at $1,506,000 after buying an additional 170 shares during the last quarter. Capstone Asset Management Co. raised its stake in Terex Corporation by 1.5% in the second quarter. Capstone Asset Management Co. now owns 14,468 shares of the industrial products company’s stock valued at $543,000 after buying an additional 220 shares during the last quarter. Creative Planning raised its stake in Terex Corporation by 3.4% in the first quarter. Creative Planning now owns 9,221 shares of the industrial products company’s stock valued at $290,000 after buying an additional 307 shares during the last quarter. Finally, State Treasurer State of Michigan raised its stake in Terex Corporation by 0.9% in the first quarter. State Treasurer State of Michigan now owns 43,000 shares of the industrial products company’s stock valued at $1,350,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 91.45% of the company’s stock.
Terex Corporation (NYSE TEX) traded up 0.03% during midday trading on Monday, reaching $38.72. The company’s stock had a trading volume of 1,579,422 shares. The stock’s 50-day moving average price is $34.38 and its 200-day moving average price is $32.52. Terex Corporation has a 12 month low of $21.22 and a 12 month high of $39.04. The firm’s market capitalization is $3.78 billion.
Terex Corporation (NYSE:TEX) last posted its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.08. Terex Corporation had a negative net margin of 2.53% and a positive return on equity of 5.90%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $926.31 million. Analysts predict that Terex Corporation will post $0.98 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Wednesday, August 9th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Monday, August 7th. Terex Corporation’s payout ratio is presently -29.63%.
Terex Corporation declared that its Board of Directors has approved a share repurchase program on Tuesday, May 30th that allows the company to buyback $280.00 million in shares. This buyback authorization allows the industrial products company to buy up to 8.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
About Terex Corporation
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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