Kevin A. Barr Sells 2,682 Shares of Terex Corporation (TEX) Stock
Terex Corporation (NYSE:TEX) insider Kevin A. Barr sold 2,682 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $43.05, for a total transaction of $115,460.10. Following the sale, the insider now owns 126,762 shares in the company, valued at approximately $5,457,104.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Terex Corporation (TEX) traded up 0.91% on Friday, hitting $43.19. 565,975 shares of the stock traded hands. The stock has a 50-day moving average price of $38.87 and a 200 day moving average price of $35.07. The stock’s market cap is $3.86 billion. Terex Corporation has a 12-month low of $21.88 and a 12-month high of $43.42.
Terex Corporation (NYSE:TEX) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.09. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm posted $0.64 EPS. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. On average, equities analysts expect that Terex Corporation will post $1.15 EPS for the current fiscal year.
Terex Corporation declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 30th that permits the company to buyback $280.00 million in shares. This buyback authorization permits the industrial products company to purchase up to 8.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Wednesday, August 9th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Monday, August 7th. Terex Corporation’s dividend payout ratio is currently -50.79%.
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A number of hedge funds have recently made changes to their positions in TEX. Sei Investments Co. raised its stake in shares of 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 acquiring an additional 619 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of 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 acquiring an additional 403 shares during the last quarter. US Bancorp DE raised its stake in shares of 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 acquiring an additional 510 shares during the last quarter. Clear Perspective Advisors LLC bought a new position in shares of Terex Corporation in the second quarter worth about $198,000. Finally, National Planning Corp bought a new position in shares of Terex Corporation in the second quarter worth about $209,000. 97.40% of the stock is owned by hedge funds and other institutional investors.
TEX has been the topic of several research reports. Credit Suisse Group set a $45.00 price objective on shares of Terex Corporation and gave the stock a “buy” rating in a research note on Monday, June 26th. BMO Capital Markets reiterated a “hold” rating and set 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. 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 on the stock. in a research note on Thursday, June 15th. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $41.00 price objective (up previously from $38.50) on shares of Terex Corporation in a research note on Monday, June 19th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $36.94.
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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