Terex (TEX) Coverage Initiated at Morgan Stanley
Morgan Stanley began coverage on shares of Terex (NYSE:TEX) in a report issued on Friday morning, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $45.00 price target on the industrial products company’s stock.
Other equities research analysts have also recently issued research reports about the company. Robert W. Baird reaffirmed a buy rating and set a $52.00 price target on shares of Terex in a report on Thursday, December 21st. TheStreet cut Terex from a b rating to a c rating in a report on Wednesday, February 14th. Barclays initiated coverage on Terex in a report on Tuesday, December 12th. They set an equal weight rating and a $50.00 price target on the stock. Deutsche Bank cut their price target on Terex from $49.00 to $48.00 and set a hold rating on the stock in a report on Thursday, February 15th. Finally, Zacks Investment Research cut Terex from a strong-buy rating to a hold rating in a report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of Hold and an average price target of $45.27.
Terex (TEX) traded down $0.93 on Friday, hitting $39.09. The stock had a trading volume of 3,870,000 shares, compared to its average volume of 1,690,000. The company has a market capitalization of $3,290.00, a PE ratio of 31.02, a PEG ratio of 0.97 and a beta of 1.76. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.36 and a current ratio of 2.30. Terex has a 52 week low of $28.67 and a 52 week high of $50.17.
Terex declared that its board has approved a share buyback plan on Wednesday, February 7th that authorizes the company to buyback $325.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Friday, March 9th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Thursday, March 8th. This is a positive change from Terex’s previous quarterly dividend of $0.08. Terex’s dividend payout ratio (DPR) is currently 25.40%.
In other Terex news, insider Steve Filipov sold 8,984 shares of Terex stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $43.28, for a total value of $388,827.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Eric I. Cohen sold 10,121 shares of Terex stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $49.90, for a total transaction of $505,037.90. Following the completion of the transaction, the vice president now owns 185,897 shares in the company, valued at approximately $9,276,260.30. The disclosure for this sale can be found here. Insiders have purchased 987 shares of company stock worth $44,638 in the last quarter. Company insiders own 2.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB acquired a new position in Terex in the fourth quarter worth approximately $398,000. MetLife Investment Advisors LLC acquired a new position in Terex in the fourth quarter worth approximately $2,438,000. LPL Financial LLC acquired a new position in Terex in the fourth quarter worth approximately $211,000. Millennium Management LLC grew its position in Terex by 93.0% in the fourth quarter. Millennium Management LLC now owns 551,612 shares of the industrial products company’s stock worth $26,599,000 after buying an additional 265,755 shares during the last quarter. Finally, Flinton Capital Management LLC grew its position in Terex by 11.8% in the fourth quarter. Flinton Capital Management LLC now owns 17,102 shares of the industrial products company’s stock worth $825,000 after buying an additional 1,802 shares during the last quarter. Hedge funds and other institutional investors own 94.09% of the company’s stock.
Terex 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.
Receive News & Ratings for Terex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Terex and related companies with MarketBeat.com's FREE daily email newsletter.