Eric I. Cohen Sells 2,997 Shares of Terex Corp. (TEX) Stock
Terex Corp. (NYSE:TEX) VP Eric I. Cohen sold 2,997 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $30.00, for a total value of $89,910.00. Following the completion of the transaction, the vice president now directly owns 193,139 shares of the company’s stock, valued at $5,794,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Eric I. Cohen also recently made the following trade(s):
- On Thursday, November 10th, Eric I. Cohen sold 9,749 shares of Terex Corp. stock. The shares were sold at an average price of $26.44, for a total value of $257,763.56.
Terex Corp. (NYSE:TEX) opened at 29.72 on Wednesday. The company has a market cap of $3.15 billion, a PE ratio of 30.26 and a beta of 2.34. The company has a 50-day moving average price of $25.73 and a 200-day moving average price of $23.67. Terex Corp. has a 1-year low of $13.62 and a 1-year high of $31.44.
Terex Corp. (NYSE:TEX) last announced its quarterly 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. The company earned $1.06 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 EPS. On average, analysts expect that Terex Corp. will post $0.77 EPS for the current fiscal 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 issued a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.94%. Terex Corp.’s dividend payout ratio (DPR) is presently 28.57%.
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Several hedge funds have recently bought and sold shares of the company. IBM Retirement Fund increased its stake in Terex Corp. by 1.1% in the second quarter. IBM Retirement Fund now owns 10,682 shares of the company’s stock worth $217,000 after buying an additional 113 shares during the period. 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 period. 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 period. PNC Financial Services Group Inc. increased its stake in Terex Corp. by 3.8% in the second quarter. PNC Financial Services Group Inc. now owns 8,875 shares of the company’s stock worth $182,000 after buying an additional 323 shares during the period. Finally, Farmers & Merchants Investments Inc. increased its stake in Terex Corp. by 0.9% in the second quarter. Farmers & Merchants Investments Inc. now owns 36,813 shares of the company’s stock worth $748,000 after buying an additional 346 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.
Several research firms have recently issued reports on TEX. Zacks Investment Research raised Terex Corp. from a “strong sell” rating to a “hold” rating in a report on Monday, September 12th. Clsa Americas lowered Terex Corp. from a “buy” rating to an “underperform” rating in a report on Friday, November 18th. CLSA lowered Terex Corp. from a “buy” rating to an “underperform” rating in a report on Friday, November 18th. Stifel Nicolaus set a $29.00 price objective on Terex Corp. and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Finally, Barclays PLC downgraded Terex Corp. from an “equal weight” rating to an “underweight” rating and set a $20.00 price objective on the stock. in a research note on Monday, October 24th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $24.50.
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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