Insider Selling: Terex Corporation (TEX) VP Sells $351,234.00 in Stock
Terex Corporation (NYSE:TEX) VP Eric I. Cohen sold 8,892 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $39.50, for a total transaction of $351,234.00. Following the completion of the transaction, the vice president now directly owns 196,280 shares of the company’s stock, valued at $7,753,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Eric I. Cohen also recently made the following trade(s):
- On Monday, August 14th, Eric I. Cohen sold 3,392 shares of Terex Corporation stock. The shares were sold at an average price of $39.23, for a total transaction of $133,068.16.
Terex Corporation (NYSE:TEX) opened at 42.73 on Thursday. The stock’s market capitalization is $3.82 billion. The firm’s 50-day moving average is $38.64 and its 200 day moving average is $34.96. Terex Corporation has a 1-year low of $21.88 and a 1-year high of $42.91.
Terex Corporation (NYSE:TEX) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.15 billion. During the same period last year, the company earned $0.64 EPS. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. Equities analysts anticipate that Terex Corporation will post $1.15 EPS for the current fiscal year.
Terex Corporation announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 30th that authorizes the company to repurchase $280.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 8.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Wednesday, August 9th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Monday, August 7th. Terex Corporation’s dividend payout ratio (DPR) is presently -50.79%.
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Institutional investors and hedge funds have recently modified their holdings of the business. Sei Investments Co. increased its stake in shares of Terex Corporation by 19.5% in the 2nd quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock worth $142,000 after acquiring an additional 619 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Terex Corporation by 7.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock worth $175,000 after acquiring an additional 403 shares during the last quarter. US Bancorp DE increased its stake in shares of Terex Corporation by 9.3% in the 1st quarter. US Bancorp DE now owns 5,989 shares of the industrial products company’s stock worth $188,000 after acquiring an additional 510 shares during the last quarter. Clear Perspective Advisors LLC acquired a new stake in shares of Terex Corporation in the 2nd quarter worth $198,000. Finally, National Planning Corp acquired a new stake in shares of Terex Corporation in the 2nd quarter worth $209,000. 97.40% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on TEX shares. Credit Suisse Group set a $45.00 target price on shares of Terex Corporation and gave the company a “buy” rating in a report on Monday, June 26th. BMO Capital Markets reissued a “hold” rating and issued a $35.00 target price on shares of Terex Corporation in a report on Thursday, July 20th. BidaskClub raised shares of Terex Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 13th. Goldman Sachs Group, Inc. (The) lowered shares of Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Thursday, June 15th. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $41.00 target price (up from $38.50) on shares of Terex Corporation in a report on Monday, June 19th. Four analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Terex Corporation presently has an average rating of “Hold” and a consensus target price of $36.94.
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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