Terex Corp. (TEX) Reaches New 1-Year High After Dividend Announcement
Terex Corp. (NYSE:TEX) shares reached a new 52-week high during mid-day trading on Friday after the company announced a dividend. The company traded as high as $25.85 and last traded at $25.19, with a volume of 892,021 shares traded. The stock had previously closed at $23.89.
The newly announced dividend which will be paid on Monday, December 19th. Investors of record on Thursday, November 10th will be issued a $0.07 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $0.28 dividend on an annualized basis and a yield of 1.11%. Terex Corp.’s payout ratio is 57.14%.
A number of equities analysts recently weighed in 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 target 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 reduced their price target 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 upped their price target on Terex Corp. from $26.00 to $28.00 and gave the stock a “hold” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $24.50.
The firm has a 50-day moving average of $24.32 and a 200 day moving average of $23.24. The firm has a market capitalization of $2.73 billion, a P/E ratio of 50.89 and a beta of 2.93.
Terex Corp. (NYSE:TEX) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.10. Terex Corp. had a return on equity of 9.63% and a net margin of 0.92%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The firm’s revenue for the quarter was down 10.1% compared to the same quarter last year. Equities research analysts anticipate that Terex Corp. will post $0.96 EPS for the current fiscal year.
In other Terex Corp. news, VP Eric I. Cohen sold 8,258 shares of Terex Corp. stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $24.29, for a total value of $200,586.82. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Matthew Fearon sold 3,632 shares of Terex Corp. stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $24.69, for a total transaction of $89,674.08. Following the sale, the insider now owns 111,114 shares of the company’s stock, valued at $2,743,404.66. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of TEX. Nisa Investment Advisors LLC increased its stake in Terex Corp. by 0.8% in the third quarter. Nisa Investment Advisors LLC now owns 76,620 shares of the company’s stock worth $1,947,000 after buying an additional 600 shares during the last quarter. Creative Planning increased its stake in Terex Corp. by 3.1% in the third quarter. Creative Planning now owns 8,864 shares of the company’s stock worth $225,000 after buying an additional 264 shares during the last quarter. Fisher Asset Management LLC increased its stake in Terex Corp. by 3.5% in the third quarter. Fisher Asset Management LLC now owns 441,605 shares of the company’s stock worth $11,221,000 after buying an additional 15,043 shares during the last quarter. Triangle Securities Wealth Management bought a new stake in Terex Corp. during the third quarter worth about $217,000. Finally, Northwestern Mutual Investment Management Company LLC increased its stake in Terex Corp. by 0.6% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 18,852 shares of the company’s stock worth $383,000 after buying an additional 116 shares during the last quarter. Institutional investors own 81.01% of the company’s stock.
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.
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