Terex Corp. (TEX) Plans Quarterly Dividend of $0.07
Terex Corp. (NYSE:TEX) declared a quarterly dividend on Thursday, October 13th. Shareholders of record on Thursday, November 10th will be given a dividend of 0.07 per share on Monday, December 19th. This represents a $0.28 annualized dividend and a yield of 1.17%.
Terex Corp. (NYSE:TEX) opened at 23.89 on Friday. The firm’s 50-day moving average is $24.28 and its 200 day moving average is $23.24. Terex Corp. has a 52-week low of $13.62 and a 52-week high of $25.66. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 48.36 and a beta of 2.93.
Terex Corp. (NYSE:TEX) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.10. The firm earned $1.30 billion during the quarter, compared to the consensus estimate of $1.61 billion. Terex Corp. had a return on equity of 9.63% and a net margin of 0.92%. The firm’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 earnings per share. On average, equities research analysts predict that Terex Corp. will post $0.96 EPS for the current fiscal year.
A number of equities analysts recently issued reports on TEX shares. Bank of America Corp. reaffirmed an “underperform” rating on shares of Terex Corp. in a report on Thursday, July 7th. Credit Agricole SA started coverage on Terex Corp. in a report on Friday, September 30th. They issued a “buy” rating and a $30.00 price objective for the company. Zacks Investment Research raised Terex Corp. from a “strong sell” rating to a “hold” rating in a report on Monday, September 12th. Barclays PLC decreased their price objective on Terex Corp. from $25.00 to $20.00 and set an “equal weight” rating for the company in a report on Monday, July 11th. Finally, Deutsche Bank AG increased their price objective on Terex Corp. from $26.00 to $28.00 and gave the company a “hold” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $24.22.
In related news, insider Kevin A. Barr sold 10,000 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $23.75, for a total transaction of $237,500.00. Following the sale, the insider now owns 153,788 shares of the company’s stock, valued at $3,652,465. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director G Chris Andersen sold 20,000 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $24.02, for a total value of $480,400.00. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. BOKF NA raised its stake in Terex Corp. by 97.1% in the second quarter. BOKF NA now owns 5,237 shares of the company’s stock worth $107,000 after buying an additional 2,580 shares during the last quarter. Croft Leominster Inc. bought a new stake in Terex Corp. during the second quarter worth approximately $264,000. Cubist Systematic Strategies LLC raised its stake in Terex Corp. by 196.5% in the second quarter. Cubist Systematic Strategies LLC now owns 14,774 shares of the company’s stock worth $300,000 after buying an additional 9,792 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Terex Corp. by 11.5% in the second quarter. Thrivent Financial for Lutherans now owns 15,610 shares of the company’s stock worth $317,000 after buying an additional 1,610 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in Terex Corp. by 5.7% in the second quarter. Ameritas Investment Partners Inc. now owns 17,266 shares of the company’s stock worth $351,000 after buying an additional 930 shares during the last quarter. 81.01% of the stock is currently owned by institutional investors and hedge funds.
Terex Corp. Company Profile
Terex Corporation is a lifting and material handling solutions company. The Company is focused on providing its operations and delivering solutions for a range of commercial applications, including the construction, infrastructure, mining, manufacturing, transportation, energy and utility industries.
Receive News & Stock Ratings for Terex Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex Corp. and related stocks with our FREE daily email newsletter.