Terex Corporation (NYSE:TEX) insider Steve Filipov sold 4,564 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $38.22, for a total transaction of $174,436.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Terex Corporation (NYSE TEX) opened at 38.70 on Thursday. Terex Corporation has a 1-year low of $21.88 and a 1-year high of $40.24. The stock’s market cap is $3.46 billion. The firm has a 50-day moving average price of $38.28 and a 200-day moving average price of $34.06.
Terex Corporation (NYSE:TEX) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. Equities analysts forecast that Terex Corporation will post $1.15 EPS for the current year.
Terex Corporation announced that its board has approved a share buyback plan on Tuesday, May 30th that allows the company to repurchase $280.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 8.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Wednesday, August 9th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.32 dividend on an annualized basis and a yield of 0.83%. Terex Corporation’s dividend payout ratio is currently -50.79%.
A number of large investors have recently bought and sold shares of TEX. Sei Investments Co. increased its stake in Terex Corporation by 19.5% in the second quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock worth $142,000 after buying an additional 619 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Terex Corporation by 7.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock worth $175,000 after buying an additional 403 shares in the last quarter. US Bancorp DE increased its stake in Terex Corporation by 9.3% in the first quarter. US Bancorp DE now owns 5,989 shares of the industrial products company’s stock worth $188,000 after buying an additional 510 shares in the last quarter. Clear Perspective Advisors LLC acquired a new stake in Terex Corporation during the second quarter worth approximately $198,000. Finally, National Planning Corp acquired a new stake in Terex Corporation during the second quarter worth approximately $209,000. Institutional investors own 99.28% of the company’s stock.
Several equities research analysts have recently commented on the stock. Goldman Sachs Group, Inc. (The) lowered shares of Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Thursday, June 15th. Deutsche Bank AG set a $44.00 price objective on Terex Corporation and gave the company a “buy” rating in a research note on Thursday, August 3rd. Credit Suisse Group reiterated an “outperform” rating and set a $40.00 price objective (up from $38.00) on shares of Terex Corporation in a research note on Thursday, May 4th. TheStreet upgraded Terex Corporation from a “c” rating to a “b” rating in a research note on Tuesday, August 1st. Finally, J P Morgan Chase & Co upgraded Terex Corporation from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $30.00 to $47.00 in a research note on Tuesday, April 25th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $36.63.
Terex Corporation Company Profile
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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