Insider Selling: Terex Corp. CEO Sells 3,469 Shares of Stock (TEX)
Terex Corp. (NYSE:TEX) CEO Ronald Defeo unloaded 3,469 shares of Terex Corp. stock on the open market in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $35.00, for a total transaction of $121,415.00. Following the completion of the sale, the chief executive officer now directly owns 1,595,798 shares in the company, valued at approximately $55,852,930. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Terex Corp. (NYSE:TEX) traded down 0.27% on Wednesday, hitting $33.55. The stock had a trading volume of 3,081,311 shares. Terex Corp. has a 52 week low of $20.41 and a 52 week high of $37.12. The stock’s 50-day moving average is $32.1 and its 200-day moving average is $30.88. The company has a market cap of $3.734 billion and a price-to-earnings ratio of 95.30.
Terex Corp. (NYSE:TEX) last announced its earnings results on Wednesday, July 24th. The company reported $0.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.55. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. Analysts expect that Terex Corp. will post $2.00 EPS for the current fiscal year.
A number of analysts have recently weighed in on TEX shares. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Terex Corp. in a research note to investors on Thursday, October 3rd. Separately, analysts at Zacks upgraded shares of Terex Corp. from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, September 24th. They now have a $35.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Terex Corp. currently has a consensus rating of “Hold” and a consensus target price of $35.27.
Terex Corporation is a diversified global equipment manufacturer of machinery products. The Company is focused on delivering reliable, customer-driven solutions for a wide range of commercial applications, including the construction, infrastructure, quarrying, mining, manufacturing, shipping, transportation, refining, energy and utility industries.
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