Terex Corp. (TEX) Shares Down 5.7%
Terex Corp. (NYSE:TEX) was down 5.7% during trading on Tuesday . The company traded as low as $19.67 and last traded at $19.68, with a volume of 765,154 shares changing hands. The stock had previously closed at $20.88.
A number of equities research analysts have recently commented on TEX shares. Jefferies Group reiterated a “buy” rating on shares of Terex Corp. in a report on Monday, May 16th. Royal Bank Of Canada increased their price target on shares of Terex Corp. from $22.00 to $26.00 and gave the company a “sector perform” rating in a report on Tuesday, May 17th. Morgan Stanley cut shares of Terex Corp. from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $26.00 to $21.00 in a report on Tuesday, May 31st. They noted that the move was a valuation call. Evercore ISI cut shares of Terex Corp. from a “buy” rating to a “hold” rating and cut their price target for the company from $31.00 to $21.00 in a report on Friday, May 27th. Finally, Robert W. Baird upgraded shares of Terex Corp. from a “neutral” rating to an “outperform” rating and increased their price target for the company from $24.00 to $30.00 in a report on Tuesday, May 17th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. Terex Corp. currently has a consensus rating of “Hold” and an average target price of $24.21.
The firm has a market cap of $2.15 billion and a price-to-earnings ratio of 29.206. The firm has a 50-day moving average of $21.70 and a 200-day moving average of $21.72.
Terex Corp. (NYSE:TEX) last posted its quarterly earnings results on Tuesday, April 26th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). During the same quarter in the prior year, the firm posted $0.01 EPS. The business earned $1.43 billion during the quarter, compared to the consensus estimate of $1.32 billion. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. Analysts predict that Terex Corp. will post $1.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 20th. Stockholders of record on Friday, June 10th were issued a $0.07 dividend. The ex-dividend date was Wednesday, June 8th. This represents a $0.28 annualized dividend and a dividend yield of 1.41%.
In related news, CAO Mark I. Clair sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $21.20, for a total transaction of $106,000.00. Following the completion of the transaction, the chief accounting officer now owns 66,570 shares in the company, valued at approximately $1,411,284. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Matthew Fearon sold 2,250 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $21.00, for a total transaction of $47,250.00. Following the transaction, the insider now owns 118,719 shares of the company’s stock, valued at approximately $2,493,099. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently bought and sold shares of the company. Liberty Mutual Group Asset Management Inc. raised its position in Terex Corp. by 49.5% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 69,042 shares of the company’s stock valued at $1,276,000 after buying an additional 22,853 shares during the period. Mutual of America Capital Management LLC raised its position in Terex Corp. by 3.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 75,104 shares of the company’s stock valued at $1,388,000 after buying an additional 2,640 shares during the period. Retirement Systems of Alabama raised its position in Terex Corp. by 1.3% in the fourth quarter. Retirement Systems of Alabama now owns 139,418 shares of the company’s stock valued at $2,576,000 after buying an additional 1,819 shares during the period. Engineers Gate Manager LP purchased a new position in Terex Corp. during the fourth quarter valued at approximately $3,054,000. Finally, California State Teachers Retirement System raised its position in Terex Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 200,938 shares of the company’s stock valued at $3,713,000 after buying an additional 3,162 shares during the period.
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.