Terex Corporation (TEX) Insider John D. Sheehan Purchases 323 Shares
Terex Corporation (NYSE:TEX) insider John D. Sheehan bought 323 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average cost of $38.65 per share, with a total value of $12,483.95. Following the acquisition, the insider now directly owns 114,520 shares in the company, valued at approximately $4,426,198. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.
John D. Sheehan also recently made the following trade(s):
- On Friday, July 7th, John D. Sheehan bought 339 shares of Terex Corporation stock. The stock was purchased at an average cost of $36.84 per share, with a total value of $12,488.76.
Shares of Terex Corporation (TEX) traded down 0.18% on Monday, hitting $39.29. 1,137,781 shares of the company were exchanged. Terex Corporation has a 52-week low of $21.88 and a 52-week high of $39.90. The stock’s market capitalization is $3.76 billion. The firm’s 50-day moving average is $37.34 and its 200-day moving average is $33.55.
Terex Corporation (NYSE:TEX) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.09. The firm had revenue of $1.18 billion for 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%. Terex Corporation’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 earnings per share. Equities research analysts predict that Terex Corporation will post $1.13 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Wednesday, August 9th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.32 dividend on an annualized basis and a yield of 0.81%. Terex Corporation’s payout ratio is presently -50.79%.
Terex Corporation declared that its board has authorized a share repurchase program on Tuesday, May 30th that allows the company to buyback $280.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 8.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
Several research analysts recently weighed in on the stock. TheStreet raised shares of Terex Corporation from a “c” rating to a “b” rating in a report on Tuesday, August 1st. UBS AG reaffirmed a “buy” rating and issued a $44.00 target price (up previously from $40.00) on shares of Terex Corporation in a report on Wednesday, August 2nd. 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. Zacks Investment Research raised shares of Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Thursday, July 13th. Finally, J P Morgan Chase & Co raised shares of Terex Corporation from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $30.00 to $47.00 in a report on Tuesday, April 25th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $35.94.
A number of institutional investors have recently bought and sold shares of TEX. Sei Investments Co. raised its position in Terex Corporation by 19.5% in the second quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock worth $142,000 after buying an additional 619 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Terex Corporation by 7.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock worth $175,000 after buying an additional 403 shares during the last quarter. National Planning Corp acquired a new position in Terex Corporation during the second quarter worth $209,000. US Bancorp DE raised its position in Terex Corporation by 9.3% in the first quarter. US Bancorp DE now owns 5,989 shares of the industrial products company’s stock worth $188,000 after buying an additional 510 shares during the last quarter. Finally, New England Research & Management Inc. acquired a new position in Terex Corporation during the second quarter worth $274,000. Hedge funds and other institutional investors own 90.94% 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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