Eric I. Cohen Sells 3,392 Shares of Terex Corporation (TEX) Stock
Terex Corporation (NYSE:TEX) VP Eric I. Cohen sold 3,392 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $39.23, for a total transaction of $133,068.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Eric I. Cohen also recently made the following trade(s):
- On Friday, June 9th, Eric I. Cohen sold 10,000 shares of Terex Corporation stock. The stock was sold at an average price of $36.42, for a total transaction of $364,200.00.
Terex Corporation (NYSE:TEX) traded down 0.79% on Tuesday, hitting $38.85. 700,340 shares of the stock were exchanged. The firm’s market cap is $3.47 billion. The stock’s 50 day moving average price is $38.11 and its 200 day moving average price is $33.98. Terex Corporation has a 52-week low of $21.88 and a 52-week high of $40.24.
Terex Corporation (NYSE:TEX) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.42 by $0.09. The business 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 company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. Equities research analysts forecast that Terex Corporation will post $1.15 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Wednesday, August 9th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.32 annualized dividend and a yield of 0.82%. Terex Corporation’s dividend payout ratio (DPR) is currently -50.79%.
Terex Corporation announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 30th that authorizes the company to repurchase $280.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 8.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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A number of equities analysts have weighed in on TEX shares. TheStreet upgraded shares of Terex Corporation from a “c” rating to a “b” rating in a research report on Tuesday, August 1st. Credit Suisse Group AG set a $45.00 price target on shares of Terex Corporation and gave the stock a “buy” rating in a research report on Monday, June 26th. Zacks Investment Research upgraded shares of Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Thursday, July 13th. UBS AG reiterated a “buy” rating and issued a $44.00 price target (up from $40.00) on shares of Terex Corporation in a research report on Wednesday, August 2nd. Finally, Deutsche Bank AG set a $44.00 price target on shares of Terex Corporation and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Four research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $36.63.
Hedge funds have recently modified their holdings of the stock. Dean Capital Management bought a new stake in shares of Terex Corporation during the second quarter valued at about $2,434,000. Sterling Capital Management LLC bought a new stake in shares of Terex Corporation during the second quarter valued at about $768,000. Caxton Associates LP raised its stake in shares of Terex Corporation by 66.7% in the second quarter. Caxton Associates LP now owns 150,000 shares of the industrial products company’s stock valued at $5,625,000 after buying an additional 60,000 shares during the period. BlueCrest Capital Management Ltd bought a new stake in shares of Terex Corporation during the second quarter valued at about $2,872,000. Finally, Gotham Asset Management LLC raised its stake in shares of Terex Corporation by 30.9% in the second quarter. Gotham Asset Management LLC now owns 459,144 shares of the industrial products company’s stock valued at $17,218,000 after buying an additional 108,486 shares during the period. Hedge funds and other institutional investors own 99.28% of the company’s stock.
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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