Terex Corp. (TEX) Insider Kevin A. Barr Sells 11,877 Shares of Stock
Terex Corp. (NYSE:TEX) insider Kevin A. Barr sold 11,877 shares of the company’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $27.20, for a total value of $323,054.40. Following the transaction, the insider now directly owns 142,065 shares of the company’s stock, valued at $3,864,168. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Terex Corp. (NYSE:TEX) opened at 28.17 on Tuesday. The stock has a market capitalization of $2.98 billion, a P/E ratio of 28.69 and a beta of 2.34. Terex Corp. has a 52 week low of $13.62 and a 52 week high of $28.88. The stock’s 50 day moving average price is $24.33 and its 200-day moving average price is $23.27.
Terex Corp. (NYSE:TEX) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.03. The firm earned $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. Terex Corp. had a return on equity of 7.39% and a net margin of 2.01%. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. Equities research analysts expect 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 dividend on an annualized basis and a yield of 0.99%. Terex Corp.’s payout ratio is currently 28.57%.
Institutional investors have recently modified their holdings of the stock. BlackRock Group LTD increased its position in shares of Terex Corp. by 31.0% in the first quarter. BlackRock Group LTD now owns 85,515 shares of the company’s stock worth $2,126,000 after buying an additional 20,240 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Terex Corp. by 6.2% in the first quarter. Geode Capital Management LLC now owns 669,634 shares of the company’s stock worth $16,660,000 after buying an additional 38,945 shares during the last quarter. Kennedy Capital Management Inc. bought a new position in shares of Terex Corp. during the first quarter worth approximately $2,503,000. Renaissance Technologies LLC bought a new position in shares of Terex Corp. during the first quarter worth approximately $11,101,000. Finally, Springbok Capital Management LLC increased its position in shares of Terex Corp. by 1,939.5% in the first quarter. Springbok Capital Management LLC now owns 28,553 shares of the company’s stock worth $710,000 after buying an additional 27,153 shares during the last quarter. Institutional investors own 82.27% of the company’s stock.
Several research analysts have recently issued reports on the company. Zacks Investment Research cut Terex Corp. from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 4th. Barclays PLC cut Terex Corp. from an “equal weight” rating to an “underweight” rating and set a $20.00 price objective for the company. in a research report on Monday, October 24th. Deutsche Bank AG assumed coverage on Terex Corp. in a research report on Tuesday, September 6th. They set a “hold” rating and a $26.00 price objective for the company. Jefferies Group cut Terex Corp. from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research report on Tuesday, August 9th. They noted that the move was a valuation call. Finally, Morgan Stanley reaffirmed a “hold” rating and set a $21.00 price objective on shares of Terex Corp. in a research report on Friday, September 16th. 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 a consensus rating of “Hold” and a consensus 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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