Terex Corp. (TEX) VP Mark I. Clair Sells 8,000 Shares
Terex Corp. (NYSE:TEX) VP Mark I. Clair sold 8,000 shares of the stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $28.75, for a total transaction of $230,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Terex Corp. (NYSE:TEX) traded down 0.63% during midday trading on Friday, hitting $28.54. The company had a trading volume of 1,533,893 shares. Terex Corp. has a 12 month low of $13.62 and a 12 month high of $28.88. The stock’s 50-day moving average price is $24.88 and its 200-day moving average price is $23.40. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 29.06 and a beta of 2.34.
Terex Corp. (NYSE:TEX) last released its earnings results on Tuesday, November 1st. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The business had revenue of $1.06 billion for 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 business’s quarterly revenue was down 15.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 earnings per share. On average, equities research analysts forecast that Terex Corp. will post $0.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Thursday, November 10th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Tuesday, November 8th. Terex Corp.’s dividend payout ratio (DPR) is currently 28.57%.
A number of analysts recently weighed in on the stock. Morgan Stanley restated a “hold” rating and set a $21.00 target price on shares of Terex Corp. in a research note on Friday, September 16th. Stifel Nicolaus set a $29.00 target price on shares of Terex Corp. and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. JPMorgan Chase & Co. set a $20.00 target price on shares of Terex Corp. and gave the stock a “hold” rating in a research note on Friday, August 5th. Credit Agricole SA restated an “underperform” rating on shares of Terex Corp. in a research note on Friday. Finally, Jefferies Group lowered shares of Terex Corp. from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research note on Tuesday, August 9th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $24.50.
Institutional investors have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC raised its stake in 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. raised its stake in 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 raised its stake in 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. purchased a new stake in Terex Corp. during the third quarter valued at about $31,182,000. Finally, Schroder Investment Management Group purchased a new stake in Terex Corp. during the second quarter valued at about $23,860,000. 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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