Eric I. Cohen Sells 3,392 Shares of Terex Corporation (TEX) Stock
Terex Corporation (NYSE:TEX) VP Eric I. Cohen sold 3,392 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $39.23, for a total value of $133,068.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Eric I. Cohen also recently made the following trade(s):
- On Friday, June 9th, Eric I. Cohen sold 10,000 shares of Terex Corporation stock. The shares were sold at an average price of $36.42, for a total value of $364,200.00.
Terex Corporation (NYSE:TEX) traded down 0.79% during midday trading on Tuesday, reaching $38.85. The company had a trading volume of 700,340 shares. Terex Corporation has a one year low of $21.88 and a one year high of $40.24. The company’s market capitalization is $3.47 billion. The stock’s 50 day moving average is $38.11 and its 200 day moving average is $33.98.
Terex Corporation (NYSE:TEX) last announced its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. Equities research analysts forecast that Terex Corporation will post $1.15 earnings per share for the current fiscal year.
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 paid a $0.08 dividend. 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 0.82%. Terex Corporation’s dividend payout ratio (DPR) is -50.79%.
Terex Corporation declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 30th that permits the company to repurchase $280.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 8.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
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TEX has been the subject of several recent research reports. Credit Suisse Group AG set a $45.00 price target on Terex Corporation and gave the company a “buy” rating in a report on Monday, June 26th. Zacks Investment Research raised Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Thursday, July 13th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $41.00 price target (up previously from $38.50) on shares of Terex Corporation in a report on Monday, June 19th. Goldman Sachs Group, Inc. (The) cut Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Thursday, June 15th. Finally, Bank of America Corporation cut Terex Corporation from a “neutral” rating to an “underperform” rating and upped their price target for the company from $29.00 to $33.00 in a report on Thursday, May 11th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $36.63.
A number of hedge funds and other institutional investors have recently made changes to their positions in TEX. M&T Bank Corp boosted its position in shares of Terex Corporation by 1.5% in the first quarter. M&T Bank Corp now owns 8,905 shares of the industrial products company’s stock worth $279,000 after buying an additional 130 shares during the period. Liberty Mutual Group Asset Management Inc. boosted its stake in Terex Corporation by 0.4% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 47,951 shares of the industrial products company’s stock worth $1,506,000 after buying an additional 170 shares during the last quarter. Capstone Asset Management Co. boosted its stake in Terex Corporation by 1.5% in the second quarter. Capstone Asset Management Co. now owns 14,468 shares of the industrial products company’s stock worth $543,000 after buying an additional 220 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Terex Corporation by 4.7% in the second quarter. PNC Financial Services Group Inc. now owns 5,825 shares of the industrial products company’s stock worth $220,000 after buying an additional 262 shares during the last quarter. Finally, Creative Planning boosted its stake in Terex Corporation by 3.4% in the first quarter. Creative Planning now owns 9,221 shares of the industrial products company’s stock worth $290,000 after buying an additional 307 shares during the last quarter. 99.28% of the stock is currently owned by institutional investors and hedge funds.
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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