Insider Buying: Terex Corporation (TEX) Insider Acquires 273 Shares of Stock
Terex Corporation (NYSE:TEX) insider John D. Sheehan acquired 273 shares of the stock in a transaction on Wednesday, December 6th. The shares were bought at an average price of $45.87 per share, for a total transaction of $12,522.51. Following the purchase, the insider now owns 125,099 shares in the company, valued at $5,738,291.13. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
John D. Sheehan also recently made the following trade(s):
- On Monday, November 6th, John D. Sheehan acquired 273 shares of Terex stock. The shares were bought at an average price of $45.73 per share, for a total transaction of $12,484.29.
Shares of Terex Corporation (NYSE TEX) traded up $0.59 during mid-day trading on Thursday, hitting $45.91. The company’s stock had a trading volume of 936,509 shares, compared to its average volume of 1,440,837. The firm has a market cap of $3,868.60, a P/E ratio of 40.71, a PEG ratio of 3.18 and a beta of 1.88. Terex Corporation has a 52-week low of $28.67 and a 52-week high of $48.86. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.53 and a current ratio of 2.42.
Terex (NYSE:TEX) last issued its earnings results on Tuesday, October 31st. The industrial products company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.14. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.03 billion. Terex had a positive return on equity of 7.01% and a negative net margin of 2.62%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. analysts expect that Terex Corporation will post 1.29 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Thursday, November 9th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Wednesday, November 8th. Terex’s dividend payout ratio is presently -37.21%.
Terex announced that its Board of Directors has authorized a share buyback plan on Wednesday, September 6th that allows the company to repurchase $225.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 6.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Several hedge funds have recently modified their holdings of the business. TIAA CREF Investment Management LLC boosted its holdings in shares of Terex by 51.0% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,624,339 shares of the industrial products company’s stock valued at $135,913,000 after acquiring an additional 1,224,422 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Terex by 6.6% during the 2nd quarter. Alliancebernstein L.P. now owns 3,298,490 shares of the industrial products company’s stock valued at $123,693,000 after acquiring an additional 202,899 shares in the last quarter. TCW Group Inc. boosted its holdings in shares of Terex by 0.8% during the 3rd quarter. TCW Group Inc. now owns 2,835,710 shares of the industrial products company’s stock valued at $127,664,000 after acquiring an additional 23,301 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Terex by 27.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,241,830 shares of the industrial products company’s stock valued at $100,591,000 after acquiring an additional 481,903 shares in the last quarter. Finally, Teachers Advisors LLC boosted its holdings in shares of Terex by 14.9% during the 2nd quarter. Teachers Advisors LLC now owns 1,561,990 shares of the industrial products company’s stock valued at $58,575,000 after acquiring an additional 202,057 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have commented on TEX shares. Bank of America lowered their price objective on Terex from $42.00 to $40.00 and set an “underperform” rating on the stock in a research note on Wednesday, November 8th. KeyCorp restated a “hold” rating on shares of Terex in a research note on Wednesday, November 1st. OTR Global upgraded Terex to a “positive” rating in a research note on Tuesday. Deutsche Bank lowered Terex from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $44.00 to $43.00 in a research note on Thursday, September 21st. Finally, Wells Fargo & Company set a $52.00 price objective on Terex and gave the stock a “buy” rating in a research note on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $41.93.
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Terex 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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