Insider Selling: Terex Corp. (TEX) Insider Sells $892,850.00 in Stock
Terex Corp. (NYSE:TEX) insider Kenneth D. Lousberg sold 35,000 shares of Terex Corp. stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $25.51, for a total value of $892,850.00. Following the sale, the insider now directly owns 82,720 shares of the company’s stock, valued at approximately $2,110,187.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Kenneth D. Lousberg also recently made the following trade(s):
- On Tuesday, October 11th, Kenneth D. Lousberg bought 105 shares of Terex Corp. stock. The shares were purchased at an average cost of $24.69 per share, with a total value of $2,592.45.
Shares of Terex Corp. (NYSE:TEX) opened at 28.17 on Tuesday. The stock’s 50 day moving average price is $24.33 and its 200 day moving average price is $23.27. Terex Corp. has a 12-month low of $13.62 and a 12-month high of $28.88. The company has a market capitalization of $2.98 billion, a PE ratio of 28.69 and a beta of 2.34.
Terex Corp. (NYSE:TEX) last issued its earnings results on Tuesday, November 1st. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.22 by $0.03. Terex Corp. had a return on equity of 7.39% and a net margin of 2.01%. The company earned $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business earned $0.44 EPS. The firm’s revenue for the quarter was down 15.9% compared to the same quarter last year. On average, equities research analysts forecast that Terex Corp. will post $0.77 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Thursday, November 10th will be paid a $0.07 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $0.28 annualized dividend and a yield of 0.99%. Terex Corp.’s dividend payout ratio is currently 28.57%.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pzena Investment Management LLC increased its position in shares of Terex Corp. by 49.1% in the second quarter. Pzena Investment Management LLC now owns 7,164,504 shares of the company’s stock valued at $145,511,000 after buying an additional 2,359,735 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Terex Corp. by 2,882.0% in the second quarter. Prudential Financial Inc. now owns 1,992,054 shares of the company’s stock valued at $40,459,000 after buying an additional 1,925,252 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Terex Corp. by 105.3% in the second quarter. TIAA CREF Investment Management LLC now owns 3,191,643 shares of the company’s stock valued at $64,822,000 after buying an additional 1,636,964 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in shares of Terex Corp. during the third quarter valued at approximately $31,182,000. Finally, Schroder Investment Management Group bought a new position in shares of Terex Corp. during the second quarter valued at approximately $23,860,000. Institutional investors and hedge funds own 82.27% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Morgan Stanley reissued a “hold” rating and set a $21.00 target price on shares of Terex Corp. in a report on Friday, September 16th. Stifel Nicolaus set a $29.00 price target on Terex Corp. and gave the company a “buy” rating in a research note on Wednesday, August 3rd. JPMorgan Chase & Co. set a $20.00 price target on Terex Corp. and gave the company a “hold” rating in a research note on Friday, August 5th. Jefferies Group downgraded Terex Corp. from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research note on Tuesday, August 9th. They noted that the move was a valuation call. Finally, Deutsche Bank AG started coverage on Terex Corp. in a research note on Tuesday, September 6th. They issued a “hold” rating and a $26.00 price target for the company. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $24.50.
About Terex Corp.
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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