Terex Corporation (NYSE:TEX) Insider John D. Sheehan Purchases 323 Shares
Terex Corporation (NYSE:TEX) insider John D. Sheehan bought 323 shares of Terex Corporation stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average cost of $38.65 per share, with a total value of $12,483.95. Following the completion of the acquisition, the insider now directly owns 114,520 shares in the company, valued at approximately $4,426,198. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
John D. Sheehan also recently made the following trade(s):
- On Friday, July 7th, John D. Sheehan bought 339 shares of Terex Corporation stock. The stock was purchased at an average cost of $36.84 per share, with a total value of $12,488.76.
Terex Corporation (NYSE:TEX) opened at 39.29 on Tuesday. The firm’s market cap is $3.76 billion. Terex Corporation has a 52-week low of $21.88 and a 52-week high of $39.90. The firm’s 50-day moving average price is $37.34 and its 200 day moving average price is $33.55.
Terex Corporation (NYSE:TEX) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.09. The company 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 business’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, equities analysts anticipate that Terex Corporation will post $1.13 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Wednesday, August 9th will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, August 7th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.81%. Terex Corporation’s dividend payout ratio (DPR) is presently -50.79%.
Terex Corporation announced that its board has authorized a share buyback plan on Tuesday, May 30th that allows the company to buyback $280.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 8.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
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Several brokerages recently issued reports on TEX. TheStreet upgraded Terex Corporation from a “c” rating to a “b” rating in a research report on Tuesday, August 1st. Credit Suisse Group restated a “buy” rating and issued a $38.00 price target on shares of Terex Corporation in a research report on Thursday, April 13th. Zacks Investment Research upgraded Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Thursday, July 13th. UBS AG restated a “buy” rating and issued a $44.00 price target (up previously from $40.00) on shares of Terex Corporation in a research report on Wednesday, August 2nd. Finally, Deutsche Bank AG set a $44.00 price target on Terex Corporation and gave the company a “buy” rating in a research report on Thursday, August 3rd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Terex Corporation has a consensus rating of “Hold” and a consensus price target of $35.94.
Several large investors have recently added to or reduced their stakes in TEX. BlackRock Inc. boosted its stake in Terex Corporation by 11,851.5% in the first quarter. BlackRock Inc. now owns 8,449,356 shares of the industrial products company’s stock worth $265,310,000 after buying an additional 8,378,659 shares during the period. Vanguard Group Inc. boosted its stake in Terex Corporation by 0.3% in the first quarter. Vanguard Group Inc. now owns 7,999,378 shares of the industrial products company’s stock worth $251,180,000 after buying an additional 22,797 shares during the period. Dimensional Fund Advisors LP boosted its stake in Terex Corporation by 17.1% in the first quarter. Dimensional Fund Advisors LP now owns 6,444,169 shares of the industrial products company’s stock worth $202,346,000 after buying an additional 943,237 shares during the period. Alliancebernstein L.P. boosted its stake in Terex Corporation by 160.8% in the first quarter. Alliancebernstein L.P. now owns 3,095,591 shares of the industrial products company’s stock worth $97,202,000 after buying an additional 1,908,447 shares during the period. Finally, State Street Corp boosted its stake in Terex Corporation by 1.1% in the first quarter. State Street Corp now owns 2,746,795 shares of the industrial products company’s stock worth $86,251,000 after buying an additional 30,608 shares during the period. 90.94% of the stock is currently owned by institutional investors.
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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