Terex Co. (NYSE:TEX)’s share price fell 1.4% during trading on Friday . The stock traded as low as $36.77 and last traded at $36.30. 1,025,047 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 1,573,818 shares. The stock had previously closed at $36.83.
Several research firms have commented on TEX. Robert W. Baird reiterated a “buy” rating and issued a $52.00 target price on shares of Terex in a research report on Thursday, December 21st. Zacks Investment Research downgraded Terex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Barclays began coverage on Terex in a research report on Tuesday, December 12th. They issued an “equal weight” rating and a $50.00 target price for the company. OTR Global upgraded Terex to a “positive” rating in a research report on Tuesday, December 5th. Finally, ValuEngine downgraded Terex from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Terex presently has an average rating of “Hold” and a consensus target price of $45.27.
The company has a debt-to-equity ratio of 0.80, a current ratio of 2.30 and a quick ratio of 1.36. The firm has a market capitalization of $2,983.23, a PE ratio of 26.56, a PEG ratio of 0.91 and a beta of 1.76.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 19th. Investors of record on Friday, March 9th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $0.40 annualized dividend and a yield of 1.12%. This is a boost from Terex’s previous quarterly dividend of $0.08. Terex’s dividend payout ratio (DPR) is currently 29.63%.
Terex announced that its board has approved a stock repurchase program on Wednesday, February 7th that allows the company to buyback $325.00 million in shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Steve Filipov sold 8,984 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $43.28, for a total transaction of $388,827.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew Fearon sold 30,306 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $39.48, for a total value of $1,196,480.88. Following the sale, the insider now directly owns 114,664 shares of the company’s stock, valued at approximately $4,526,934.72. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 1,044 shares of company stock valued at $44,621 and have sold 49,411 shares valued at $2,090,346. Company insiders own 2.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB acquired a new stake in Terex during the fourth quarter worth approximately $398,000. MetLife Investment Advisors LLC acquired a new stake in Terex during the fourth quarter worth approximately $2,438,000. LPL Financial LLC acquired a new stake in Terex during the fourth quarter worth approximately $211,000. Millennium Management LLC grew its stake in Terex by 93.0% during the fourth quarter. Millennium Management LLC now owns 551,612 shares of the industrial products company’s stock worth $26,599,000 after purchasing an additional 265,755 shares during the period. Finally, Flinton Capital Management LLC grew its stake in Terex by 11.8% during the fourth quarter. Flinton Capital Management LLC now owns 17,102 shares of the industrial products company’s stock worth $825,000 after purchasing an additional 1,802 shares during the period. 97.80% of the stock is owned by institutional investors and hedge funds.
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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.
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