Terex Corporation (NYSE:TEX) Insider Kevin A. Barr Sells 15,000 Shares
Terex Corporation (NYSE:TEX) insider Kevin A. Barr sold 15,000 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $38.92, for a total transaction of $583,800.00. Following the transaction, the insider now owns 143,304 shares in the company, valued at $5,577,391.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Terex Corporation (NYSE TEX) traded down 0.48% during trading on Friday, reaching $37.53. 1,524,861 shares of the company’s stock traded hands. The company’s market capitalization is $3.36 billion. Terex Corporation has a 12 month low of $21.88 and a 12 month high of $40.24. The firm’s 50 day moving average is $38.35 and its 200-day moving average is $34.12.
Terex Corporation (NYSE:TEX) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.09. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the business posted $0.64 earnings per share. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. Analysts expect that Terex Corporation will post $1.15 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Wednesday, August 9th will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, August 7th. This represents a $0.32 annualized dividend and a yield of 0.85%. Terex Corporation’s dividend payout ratio is currently -50.79%.
Terex Corporation announced that its Board of Directors has authorized a stock buyback program on Tuesday, May 30th that permits the company to buyback $280.00 million in shares. This buyback authorization permits the industrial products company to repurchase up to 8.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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A number of brokerages have weighed in on TEX. UBS AG reissued a “buy” rating and set a $44.00 target price (up from $40.00) on shares of Terex Corporation in a report on Tuesday, August 8th. BMO Capital Markets reissued a “hold” rating and set a $35.00 target price on shares of Terex Corporation in a report on Thursday, July 20th. Zacks Investment Research raised shares of Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Thursday, July 13th. TheStreet raised shares of Terex Corporation from a “c” rating to a “b” rating in a report on Tuesday, August 1st. Finally, Deutsche Bank AG set a $44.00 target price on shares of Terex Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $36.63.
A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Terex Corporation by 11,851.5% in the first quarter. BlackRock Inc. now owns 8,449,356 shares of the industrial products company’s stock valued at $265,310,000 after buying an additional 8,378,659 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Terex Corporation by 0.3% in the first quarter. Vanguard Group Inc. now owns 7,999,378 shares of the industrial products company’s stock valued at $251,180,000 after buying an additional 22,797 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Terex Corporation by 17.1% in the first quarter. Dimensional Fund Advisors LP now owns 6,444,169 shares of the industrial products company’s stock valued at $202,346,000 after buying an additional 943,237 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Terex Corporation by 51.0% in the second quarter. TIAA CREF Investment Management LLC now owns 3,624,339 shares of the industrial products company’s stock valued at $135,913,000 after buying an additional 1,224,422 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Terex Corporation by 6.6% in the second quarter. Alliancebernstein L.P. now owns 3,298,490 shares of the industrial products company’s stock valued at $123,693,000 after buying an additional 202,899 shares in the last quarter. 99.28% of the stock is owned by hedge funds and other institutional investors.
About Terex Corporation
Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries.
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