Terex Corporation (NYSE:TEX) Insider Kevin A. Barr Sells 15,000 Shares
Terex Corporation (NYSE:TEX) insider Kevin A. Barr sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $38.92, for a total transaction of $583,800.00. Following the sale, the insider now owns 143,304 shares of the company’s stock, valued at approximately $5,577,391.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Terex Corporation (TEX) traded down 0.165% during trading on Monday, hitting $39.295. 1,132,946 shares of the stock traded hands. Terex Corporation has a 12 month low of $21.88 and a 12 month high of $39.90. The firm’s 50-day moving average price is $37.34 and its 200-day moving average price is $33.55. The stock’s market cap is $3.76 billion.
Terex Corporation (NYSE:TEX) last released its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.09. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.15 billion. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. The business’s revenue was down 8.9% on a year-over-year basis. During the same quarter last year, the business earned $0.64 EPS. Analysts anticipate that Terex Corporation will post $1.13 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Wednesday, August 9th will be issued a $0.08 dividend. The ex-dividend date is Monday, August 7th. This represents a $0.32 annualized dividend and a dividend yield of 0.81%. Terex Corporation’s dividend payout ratio (DPR) is presently -50.79%.
Terex Corporation announced that its board has initiated a stock buyback 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 buy up to 8.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
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Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Terex Corporation by 11,851.5% in the first quarter. BlackRock Inc. now owns 8,449,356 shares of the industrial products company’s stock worth $265,310,000 after buying an additional 8,378,659 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Terex Corporation by 160.8% in the first quarter. Alliancebernstein L.P. now owns 3,095,591 shares of the industrial products company’s stock worth $97,202,000 after buying an additional 1,908,447 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Terex Corporation by 17.1% in the first quarter. Dimensional Fund Advisors LP now owns 6,444,169 shares of the industrial products company’s stock worth $202,346,000 after buying an additional 943,237 shares during the last quarter. Columbus Circle Investors bought a new stake in shares of Terex Corporation during the first quarter worth $27,629,000. Finally, Jennison Associates LLC raised its stake in shares of Terex Corporation by 123.1% in the second quarter. Jennison Associates LLC now owns 1,071,708 shares of the industrial products company’s stock worth $40,189,000 after buying an additional 591,334 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.
A number of research analysts recently weighed in on TEX shares. Bank of America Corporation lowered shares of Terex Corporation from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research note on Friday, April 28th. Credit Suisse Group reiterated a “buy” rating and issued a $38.00 price objective on shares of Terex Corporation in a research note on Thursday, April 13th. BMO Capital Markets reiterated a “hold” rating and issued a $35.00 price objective on shares of Terex Corporation in a research note on Thursday, July 20th. BidaskClub upgraded shares of Terex Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 13th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Thursday, June 15th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Terex Corporation presently has an average rating of “Hold” and a consensus price target of $35.94.
About Terex Corporation
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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