Terex Corp. (TEX) Sees Unusually-High Trading Volume
Shares of Terex Corp. (NYSE:TEX) saw unusually-strong trading volume on Thursday . Approximately 2,663,518 shares changed hands during mid-day trading, an increase of 94% from the previous session’s volume of 1,372,169 shares.The stock last traded at $24.00 and had previously closed at $24.02.
A number of equities research analysts have weighed in on the stock. Jefferies Group reissued a “buy” rating on shares of Terex Corp. in a report on Monday, May 16th. Wells Fargo & Co. raised shares of Terex Corp. from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 17th. Royal Bank Of Canada upped 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. Robert W. Baird raised shares of Terex Corp. from a “neutral” rating to an “outperform” rating and upped their price target for the company from $24.00 to $30.00 in a report on Tuesday, May 17th. Finally, Evercore ISI downgraded 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. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $23.43.
The stock has a market cap of $2.61 billion and a PE ratio of 48.58. The company has a 50-day moving average price of $22.49 and a 200-day moving average price of $22.69.
Terex Corp. (NYSE:TEX) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.10. The firm earned $1.30 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. Terex Corp.’s revenue for the quarter was down 10.1% compared to the same quarter last year. Analysts expect that Terex Corp. will post $0.95 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 19th. Investors of record on Wednesday, August 10th will be given a $0.07 dividend. The ex-dividend date is Monday, August 8th. This represents a $0.28 dividend on an annualized basis and a yield of 1.17%.
In related news, insider Matthew Fearon sold 2,250 shares of Terex Corp. stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $21.00, for a total value of $47,250.00. Following the completion of the sale, the insider now directly owns 118,719 shares in the company, valued at $2,493,099. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Brian J. Henry sold 5,000 shares of Terex Corp. stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $24.29, for a total value of $121,450.00. Following the completion of the sale, the senior vice president now owns 316,729 shares of the company’s stock, valued at $7,693,347.41. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Terex Corp. stock. Mutual of America Capital Management LLC increased its position in Terex Corp. (NYSE:TEX) by 3.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 75,104 shares of the company’s stock after buying an additional 2,640 shares during the period. Mutual of America Capital Management LLC owned 0.07% of Terex Corp. worth $1,388,000 as of its most recent SEC filing.
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.