Terex Corp. (TEX) Sets New 52-Week High Following Dividend Announcement
Terex Corp. (NYSE:TEX) shares hit a new 52-week high on Friday after the company announced a dividend. The stock traded as high as $25.85 and last traded at $25.19, with a volume of 892,021 shares changing hands. The stock had previously closed at $23.89.
The newly announced dividend which will be paid on Monday, December 19th. Investors of record on Thursday, November 10th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.17%. Terex Corp.’s dividend payout ratio (DPR) is presently 57.14%.
Several research firms recently commented on TEX. Bank of America Corp. upgraded shares of Terex Corp. from an “underperform” rating to a “buy” rating and upped their price target for the company from $21.00 to $29.00 in a research note on Friday. Deutsche Bank AG upped their price target on shares of Terex Corp. from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of Terex Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 4th. Credit Agricole SA began coverage on shares of Terex Corp. in a research note on Friday, September 30th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Morgan Stanley restated a “hold” rating and issued a $21.00 price target on shares of Terex Corp. in a research note on Friday, September 16th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $24.50.
The stock has a 50-day moving average of $24.28 and a 200-day moving average of $23.24. The stock has a market capitalization of $2.73 billion, a PE ratio of 50.95 and a beta of 2.93.
Terex Corp. (NYSE:TEX) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.10. Terex Corp. had a return on equity of 9.63% and a net margin of 0.92%. The company earned $1.30 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Terex Corp.’s revenue was down 10.1% on a year-over-year basis. Equities research analysts forecast that Terex Corp. will post $0.96 earnings per share for the current year.
In other news, Director G Chris Andersen sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $24.02, for a total transaction of $480,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark I. Clair sold 7,489 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $24.23, for a total value of $181,458.47. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of TEX. Nisa Investment Advisors LLC raised its position in shares of Terex Corp. by 0.8% in the third quarter. Nisa Investment Advisors LLC now owns 76,620 shares of the company’s stock valued at $1,947,000 after buying an additional 600 shares during the last quarter. Creative Planning raised its position in shares of Terex Corp. by 3.1% in the third quarter. Creative Planning now owns 8,864 shares of the company’s stock valued at $225,000 after buying an additional 264 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Terex Corp. by 3.5% in the third quarter. Fisher Asset Management LLC now owns 441,605 shares of the company’s stock valued at $11,221,000 after buying an additional 15,043 shares during the last quarter. Triangle Securities Wealth Management acquired a new position in shares of Terex Corp. during the third quarter valued at approximately $217,000. Finally, Northwestern Mutual Investment Management Company LLC raised its position in shares of 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 valued at $383,000 after buying an additional 116 shares during the last quarter. 81.01% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Terex Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex Corp. and related companies with MarketBeat.com's FREE daily email newsletter.