Terex Corporation (TEX) Insider Matthew Fearon Sells 13,000 Shares of Stock
Terex Corporation (NYSE:TEX) insider Matthew Fearon sold 13,000 shares of Terex Corporation stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $38.00, for a total value of $494,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Terex Corporation (NYSE TEX) opened at 37.38 on Tuesday. Terex Corporation has a one year low of $21.88 and a one year high of $40.24. The stock has a 50 day moving average price of $38.34 and a 200-day moving average price of $34.20. The stock’s market cap is $3.34 billion.
Terex Corporation (NYSE:TEX) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.09. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 EPS. Equities research analysts expect that Terex Corporation will post $1.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Wednesday, August 9th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.86%. The ex-dividend date is Monday, August 7th. Terex Corporation’s dividend payout ratio (DPR) is presently -50.79%.
Terex Corporation declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 30th that authorizes the company to repurchase $280.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 8.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
A number of analysts have issued reports on TEX shares. TheStreet raised Terex Corporation from a “c” rating to a “b” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Thursday, July 13th. Credit Suisse Group set a $45.00 price objective on Terex Corporation and gave the stock a “buy” rating in a research note on Monday, June 26th. UBS AG reaffirmed a “buy” rating and issued a $44.00 price objective (up previously from $40.00) on shares of Terex Corporation in a research note on Wednesday, August 2nd. Finally, Deutsche Bank AG set a $44.00 price objective on Terex Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $36.63.
Institutional investors have recently modified their holdings of the stock. M&T Bank Corp boosted its position in shares of Terex Corporation by 1.5% in the first quarter. M&T Bank Corp now owns 8,905 shares of the industrial products company’s stock valued at $279,000 after buying an additional 130 shares during the period. Thrivent Financial For Lutherans boosted its position in shares of Terex Corporation by 8.3% in the first quarter. Thrivent Financial For Lutherans now owns 19,920 shares of the industrial products company’s stock valued at $625,000 after buying an additional 1,520 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Terex Corporation by 13.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,515 shares of the industrial products company’s stock valued at $267,000 after buying an additional 1,014 shares during the period. Geode Capital Management LLC boosted its position in shares of Terex Corporation by 7.6% in the first quarter. Geode Capital Management LLC now owns 824,753 shares of the industrial products company’s stock valued at $25,897,000 after buying an additional 58,306 shares during the period. Finally, Schneider Capital Management Corp boosted its position in shares of Terex Corporation by 0.7% in the first quarter. Schneider Capital Management Corp now owns 720,711 shares of the industrial products company’s stock valued at $22,630,000 after buying an additional 5,000 shares during the period. Hedge funds and other institutional investors own 99.28% of the company’s stock.
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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