Insider Selling: Terex Corporation (NYSE:TEX) Insider Sells 11,000 Shares of Stock
Terex Corporation (NYSE:TEX) insider Kevin A. Barr sold 11,000 shares of Terex Corporation stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $38.63, for a total value of $424,930.00. Following the completion of the transaction, the insider now owns 127,653 shares in the company, valued at approximately $4,931,235.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Terex Corporation (NYSE TEX) traded down 2.19% during midday trading on Thursday, hitting $37.90. The company had a trading volume of 2,155,364 shares. The firm has a 50-day moving average price of $37.81 and a 200-day moving average price of $33.84. The company’s market cap is $3.39 billion. Terex Corporation has a 12 month low of $21.88 and a 12 month high of $40.24.
Terex Corporation (NYSE:TEX) last released its quarterly 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. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. Equities analysts anticipate that Terex Corporation will post $1.15 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Wednesday, August 9th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.32 dividend on an annualized basis and a yield of 0.84%. Terex Corporation’s dividend payout ratio is presently -50.79%.
Terex Corporation declared that its board has initiated a share repurchase program on Tuesday, May 30th that permits the company to buyback $280.00 million in outstanding shares. This buyback authorization permits the industrial products company to buy up to 8.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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Several equities analysts have issued reports on TEX shares. Credit Suisse Group reiterated a “buy” rating and issued a $38.00 target price on shares of Terex Corporation in a research note on Thursday, April 13th. Barclays PLC lifted their target price on Terex Corporation from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Wednesday, April 19th. BMO Capital Markets reiterated a “hold” rating and issued a $35.00 target price on shares of Terex Corporation in a research note on Thursday, April 20th. J P Morgan Chase & Co upgraded Terex Corporation from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $30.00 to $47.00 in a research note on Tuesday, April 25th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $33.00 target price on shares of Terex Corporation in a research note on Wednesday, April 26th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $36.63.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in Terex Corporation by 19.5% in the second quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock worth $142,000 after buying an additional 619 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Terex Corporation by 7.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock worth $175,000 after buying an additional 403 shares in the last quarter. US Bancorp DE increased its position in Terex Corporation by 9.3% in the first quarter. US Bancorp DE now owns 5,989 shares of the industrial products company’s stock worth $188,000 after buying an additional 510 shares in the last quarter. National Planning Corp purchased a new position in Terex Corporation during the second quarter worth about $209,000. Finally, CIBC World Markets Inc. purchased a new position in Terex Corporation during the second quarter worth about $210,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.
Terex Corporation Company Profile
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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