Kevin A. Barr Sells 2,682 Shares of Terex Corporation (TEX) Stock
Terex Corporation (NYSE:TEX) insider Kevin A. Barr sold 2,682 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $43.05, for a total value of $115,460.10. Following the completion of the sale, the insider now owns 126,762 shares of the company’s stock, valued at approximately $5,457,104.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Terex Corporation (TEX) opened at 43.47 on Friday. The stock’s market capitalization is $3.89 billion. Terex Corporation has a one year low of $21.88 and a one year high of $43.67. The stock has a 50 day moving average price of $39.01 and a 200 day moving average price of $35.16.
Terex Corporation (NYSE:TEX) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. Terex Corporation had a positive return on equity of 4.98% and a negative net margin of 1.76%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. Equities analysts forecast that Terex Corporation will post $1.15 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Wednesday, August 9th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Monday, August 7th. Terex Corporation’s dividend payout ratio is presently -50.79%.
Terex Corporation announced that its Board of Directors has initiated a share repurchase plan on Tuesday, May 30th that permits the company to repurchase $280.00 million in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 8.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
A number of analysts have commented on TEX shares. Credit Suisse Group set a $45.00 price target on Terex Corporation and gave the stock a “buy” rating in a research report on Monday, June 26th. BMO Capital Markets reaffirmed a “hold” rating and issued a $35.00 price objective on shares of Terex Corporation in a research note on Thursday, July 20th. BidaskClub raised Terex Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 13th. Goldman Sachs Group, Inc. (The) lowered Terex Corporation from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Thursday, June 15th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $41.00 price objective (up previously from $38.50) on shares of Terex Corporation in a research note on Monday, June 19th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $38.00.
A number of hedge funds and other institutional investors have recently made changes to their positions in TEX. Sei Investments Co. raised 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 valued at $142,000 after purchasing an additional 619 shares during the period. PNC Financial Services Group Inc. raised 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 valued at $175,000 after purchasing an additional 403 shares during the period. US Bancorp DE raised 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 valued at $188,000 after purchasing an additional 510 shares during the period. Clear Perspective Advisors LLC purchased a new stake in Terex Corporation in the second quarter valued at approximately $198,000. Finally, National Planning Corp purchased a new stake in Terex Corporation in the second quarter valued at approximately $209,000. 97.40% of the stock is currently owned by institutional investors.
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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