Insider Buying: Terex Corporation (TEX) Director Acquires 3,000 Shares of Stock
Terex Corporation (NYSE:TEX) Director David A. Sachs purchased 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was purchased at an average price of $37.97 per share, for a total transaction of $113,910.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Terex Corporation (NYSE TEX) traded down 0.40% during trading on Monday, hitting $37.38. 1,005,696 shares of the company traded hands. The stock has a 50-day moving average price of $38.35 and a 200-day moving average price of $34.12. The firm’s market capitalization is $3.34 billion. Terex Corporation has a 12-month low of $21.88 and a 12-month high of $40.24.
Terex Corporation (NYSE:TEX) last issued its 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. 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 for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. Terex Corporation’s revenue for the quarter was down 8.9% on a year-over-year basis. Equities analysts expect that Terex Corporation will post $1.15 EPS for the current fiscal 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 given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, August 7th. Terex Corporation’s payout ratio is -50.79%.
Terex Corporation announced that its board has approved a share repurchase plan on Tuesday, May 30th that authorizes the company to repurchase $280.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 8.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
Several analysts have commented on the stock. Bank of America Corporation downgraded shares of Terex Corporation from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a report on Friday, April 28th. 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. BMO Capital Markets restated a “hold” rating and set a $35.00 target price on shares of Terex Corporation in a report on Thursday, July 20th. BidaskClub upgraded shares of Terex Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 13th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Thursday, June 15th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $36.63.
A number of large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. raised its stake 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 stake 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. US Bancorp DE raised its stake 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. Clear Perspective Advisors LLC bought a new stake in Terex Corporation during the second quarter worth approximately $198,000. Finally, National Planning Corp bought a new stake in Terex Corporation during the second quarter worth approximately $209,000. 99.28% of the stock is 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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