Terex Corp. (TEX) VP Eric I. Cohen Sells 9,749 Shares of Stock
Terex Corp. (NYSE:TEX) VP Eric I. Cohen sold 9,749 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $26.44, for a total transaction of $257,763.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Terex Corp. (NYSE:TEX) opened at 28.17 on Tuesday. The company has a market cap of $2.98 billion, a PE ratio of 28.69 and a beta of 2.34. Terex Corp. has a 1-year low of $13.62 and a 1-year high of $28.08. The firm’s 50 day moving average is $24.33 and its 200-day moving average is $23.27.
Terex Corp. (NYSE:TEX) last released its earnings results on Tuesday, November 1st. The company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.03. The company earned $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Terex Corp. had a net margin of 2.01% and a return on equity of 7.39%. The firm’s revenue was down 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 earnings per share. Equities analysts expect that Terex Corp. will post $0.77 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Thursday, November 10th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Tuesday, November 8th. Terex Corp.’s payout ratio is currently 28.57%.
Several equities research analysts recently issued reports on TEX shares. Stifel Nicolaus set a $29.00 target price on shares of Terex Corp. and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Bank of America Corp. upgraded shares of Terex Corp. from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $21.00 to $29.00 in a research report on Friday, October 14th. Credit Agricole SA initiated coverage on shares of Terex Corp. in a research report on Friday, September 30th. They set a “buy” rating and a $30.00 price objective for the company. Morgan Stanley restated a “hold” rating and set a $21.00 price objective on shares of Terex Corp. in a research report on Friday, September 16th. Finally, Zacks Investment Research upgraded shares of Terex Corp. from a “strong sell” rating to a “hold” rating in a research report on Monday, September 12th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Terex Corp. currently has an average rating of “Hold” and an average target price of $24.50.
Several hedge funds have recently made changes to their positions in TEX. BlackRock Group LTD boosted its stake 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 boosted its stake 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. acquired a new stake in shares of Terex Corp. during the first quarter worth approximately $2,503,000. Renaissance Technologies LLC acquired a new stake in shares of Terex Corp. during the first quarter worth approximately $11,101,000. Finally, Springbok Capital Management LLC boosted its stake 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.
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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