Terex Corporation (TEX) Insider Kevin A. Barr Sells 2,682 Shares
Terex Corporation (NYSE:TEX) insider Kevin A. Barr sold 2,682 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $43.05, for a total transaction of $115,460.10. Following the transaction, the insider now owns 126,762 shares in the company, valued at $5,457,104.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Terex Corporation (NYSE:TEX) traded up 1.57% during midday trading on Friday, hitting $43.47. 2,436,631 shares of the stock were exchanged. Terex Corporation has a 1-year low of $21.88 and a 1-year high of $43.67. The stock’s 50-day moving average price is $39.01 and its 200-day moving average price is $35.16. The firm’s market capitalization is $3.89 billion.
Terex Corporation (NYSE:TEX) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.09. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm posted $0.64 EPS. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, analysts forecast that Terex Corporation will post $1.15 EPS for the current year.
Terex Corporation announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 30th that permits the company to repurchase $280.00 million in shares. This repurchase authorization permits the industrial products company to reacquire up to 8.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The company 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. This represents a $0.32 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Monday, August 7th. Terex Corporation’s dividend payout ratio (DPR) is currently -50.79%.
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Institutional investors and hedge funds have recently made changes to their positions in the stock. Sei Investments Co. increased its holdings in Terex Corporation by 19.5% in the 2nd quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock worth $142,000 after acquiring an additional 619 shares during the last quarter. Clear Perspective Advisors LLC purchased a new stake in Terex Corporation in the 2nd quarter worth about $198,000. PNC Financial Services Group Inc. increased its holdings in Terex Corporation by 7.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock worth $175,000 after acquiring an additional 403 shares during the last quarter. CIBC World Markets Inc. purchased a new stake in Terex Corporation in the 2nd quarter worth about $210,000. Finally, National Planning Corp purchased a new stake in Terex Corporation in the 2nd quarter worth about $209,000. 97.40% of the stock is owned by institutional investors.
A number of equities analysts recently weighed in on TEX shares. TheStreet upgraded shares of Terex Corporation from a “c” rating to a “b” rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Thursday, July 13th. Credit Suisse Group set a $45.00 target price on shares of Terex Corporation and gave the stock a “buy” rating in a report on Monday, June 26th. UBS AG restated a “buy” rating and set a $44.00 target price (up from $40.00) on shares of Terex Corporation in a report on Tuesday, August 8th. Finally, Deutsche Bank AG set a $44.00 target price on shares of Terex Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. Four analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Terex Corporation currently has an average rating of “Hold” and a consensus price target of $36.94.
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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