Terex Corporation (NYSE:TEX) insider John D. Sheehan purchased 413 shares of Terex Corporation stock in a transaction that occurred on Thursday, October 5th. The shares were bought at an average price of $45.44 per share, for a total transaction of $18,766.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Terex Corporation (NYSE:TEX) last released its earnings results 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. The firm 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 company’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Thursday, November 9th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.70%. Terex Corporation’s dividend payout ratio is -50.79%.
Terex Corporation declared that its board has approved a share repurchase plan on Wednesday, September 6th that allows the company to buyback $225.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 6.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. M&T Bank Corp grew its stake in shares of Terex Corporation by 1.5% during the first quarter. M&T Bank Corp now owns 8,905 shares of the industrial products company’s stock valued at $279,000 after buying an additional 130 shares during the last quarter. Thrivent Financial For Lutherans grew its stake in Terex Corporation by 8.3% in the first quarter. Thrivent Financial For Lutherans now owns 19,920 shares of the industrial products company’s stock worth $625,000 after purchasing an additional 1,520 shares in the last quarter. Legal & General Group Plc grew its stake in Terex Corporation by 5.7% in the second quarter. Legal & General Group Plc now owns 170,769 shares of the industrial products company’s stock worth $6,400,000 after purchasing an additional 9,152 shares in the last quarter. AHL Partners LLP grew its stake in Terex Corporation by 7.6% in the second quarter. AHL Partners LLP now owns 77,063 shares of the industrial products company’s stock worth $2,890,000 after purchasing an additional 5,423 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Terex Corporation by 13.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,515 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 1,014 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on TEX. BMO Capital Markets restated a “hold” rating and set a $35.00 price target on shares of Terex Corporation in a research report on Thursday, July 20th. Deutsche Bank AG set a $44.00 price target on Terex Corporation and gave the stock a “buy” rating in a research report on Thursday, August 3rd. UBS AG restated a “buy” rating and set a $44.00 price target (up from $40.00) on shares of Terex Corporation in a research report on Wednesday, August 2nd. TheStreet upgraded Terex Corporation from a “c” rating to a “b” rating in a research report on Tuesday, August 1st. Finally, Royal Bank Of Canada restated a “hold” rating and set a $38.00 price target on shares of Terex Corporation in a research report on Wednesday, September 13th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $39.71.
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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