Terex (NYSE:TEX) Shares Up 7.6% Following Earnings Beat

Terex Co. (NYSE:TEX)’s share price shot up 7.6% during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $39.49 and last traded at $39.15. 466,055 shares changed hands during trading, a decline of 53% from the average session volume of 1,000,177 shares. The stock had previously closed at $36.40.

The industrial products company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.26. Terex had a net margin of 6.54% and a return on equity of 21.99%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company posted $1.60 EPS. Terex’s quarterly revenue was down 4.9% compared to the same quarter last year.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Friday, March 7th. Terex’s dividend payout ratio is currently 13.71%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TEX. The Goldman Sachs Group dropped their target price on shares of Terex from $60.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. StockNews.com downgraded shares of Terex from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Citigroup decreased their target price on shares of Terex from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. UBS Group lowered Terex from a “neutral” rating to a “sell” rating and dropped their price target for the company from $49.00 to $32.00 in a research report on Monday, April 7th. Finally, Barclays reduced their price objective on Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.60.

Insider Buying and Selling at Terex

In related news, Director Andra Rush acquired 1,325 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $36.96 per share, for a total transaction of $48,972.00. Following the acquisition, the director now owns 23,308 shares in the company, valued at $861,463.68. The trade was a 6.03 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Terex

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cascade Investment Advisors Inc. purchased a new stake in shares of Terex in the 4th quarter valued at $1,070,000. Norges Bank purchased a new stake in Terex during the fourth quarter worth about $35,001,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Terex during the fourth quarter worth about $610,000. Barclays PLC boosted its stake in shares of Terex by 40.2% in the third quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock valued at $6,838,000 after purchasing an additional 37,072 shares during the period. Finally, J2 Capital Management Inc acquired a new position in shares of Terex in the fourth quarter valued at approximately $353,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Terex Stock Performance

The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16. The stock has a market capitalization of $2.64 billion, a PE ratio of 8.03, a P/E/G ratio of 4.53 and a beta of 1.40. The firm’s 50 day moving average is $37.48 and its two-hundred day moving average is $45.26.

About Terex

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.