Insider Buying: Terex Corporation (TEX) Insider Acquires 413 Shares of Stock
Terex Corporation (NYSE:TEX) insider John D. Sheehan acquired 413 shares of the firm’s stock in a transaction on Thursday, October 5th. The stock was acquired at an average cost of $45.44 per share, with a total value of $18,766.72. The purchase was disclosed in a filing with the SEC, which is available at this link.
Shares of Terex Corporation (TEX) traded up 0.80% during midday trading on Tuesday, hitting $45.51. 1,120,744 shares of the company were exchanged. The firm’s market cap is $4.07 billion. The company’s 50 day moving average price is $41.70 and its 200 day moving average price is $36.80. Terex Corporation has a one year low of $21.88 and a one year high of $45.93.
Terex Corporation (NYSE:TEX) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.42 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. Equities analysts expect that Terex Corporation will post $1.15 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Wednesday, August 9th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Monday, August 7th. Terex Corporation’s payout ratio is presently -50.79%.
Terex Corporation announced that its Board of Directors has approved a stock repurchase program on Wednesday, September 6th that allows the company to buyback $225.00 million in outstanding shares. This buyback authorization allows the industrial products company to buy up to 6.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
ILLEGAL ACTIVITY WARNING: “Insider Buying: Terex Corporation (TEX) Insider Acquires 413 Shares of Stock” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/10/10/insider-buying-terex-corporation-tex-insider-acquires-413-shares-of-stock.html.
A number of research firms have commented on TEX. BMO Capital Markets reaffirmed a “hold” rating and issued a $35.00 price objective on shares of Terex Corporation in a report on Monday, August 21st. Goldman Sachs Group, Inc. (The) downgraded shares of 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. Deutsche Bank AG set a $44.00 price target on shares of Terex Corporation and gave the company a “buy” rating in a report on Thursday, August 3rd. Royal Bank Of Canada reissued a “hold” rating and set a $38.00 price target on shares of Terex Corporation in a report on Wednesday, September 13th. Finally, TheStreet raised shares of Terex Corporation from a “c” rating to a “b” rating in a report on Tuesday, August 1st. Four analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $38.50.
Several hedge funds have recently made changes to their positions in the company. M&T Bank Corp grew its holdings in shares of Terex Corporation by 1.5% during the first quarter. M&T Bank Corp now owns 8,905 shares of the industrial products company’s stock worth $279,000 after purchasing an additional 130 shares during the last quarter. Liberty Mutual Group Asset Management Inc. grew its holdings in shares of Terex Corporation by 0.4% during 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 purchasing an additional 170 shares during the last quarter. Capstone Asset Management Co. grew its holdings in shares of Terex Corporation by 1.5% during the second quarter. Capstone Asset Management Co. now owns 14,468 shares of the industrial products company’s stock worth $543,000 after purchasing an additional 220 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Terex Corporation by 4.7% during the second quarter. PNC Financial Services Group Inc. now owns 5,825 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 262 shares during the last quarter. Finally, Mirador Capital Partners LP grew its holdings in shares of Terex Corporation by 4.5% during the second quarter. Mirador Capital Partners LP now owns 9,118 shares of the industrial products company’s stock worth $360,000 after purchasing an additional 394 shares during the last quarter. Institutional investors own 97.38% 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.
Receive News & Ratings for Terex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex Corporation and related companies with MarketBeat.com's FREE daily email newsletter.