Insider Sale: Terex Co. (NYSE: TEX) CFO sells 29,332 shares
Terex Co. (NYSE: TEX) CFO John D. Sheehan sold 29,332 shares of Terex in a transaction on Monday, November 15th. The shares were sold at an average price of $ 49.07 for a total transaction of $ 1,439,321.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares in TEX traded around $ 1.19 during Wednesday’s trading hours to hit $ 47.29. The company had a trading volume of 20,171 shares versus an average volume of 669,442. The company has a 50-day simple moving average of $ 45.02 and a 200-day simple moving average of $ 47.63. The company has a current metric of 2.13, a quick ratio of 1.34 and debt of 0.84. The company has a market capitalization of $ 3.30 billion, a price / earnings ratio of 18.62, and a beta of 1.69. Terex Co. has a 12-month low of $ 28.98 and a 12-month high of $ 55.60.
Terex (NYSE: TEX) last released its earnings results on Wednesday October 27th. The industrial products company reported earnings per share of $ 0.67 for the quarter, missing the Thomson Reuters consensus estimate of $ 0.73 ($ 0.06). Terex had a net margin of 4.88% and a return on equity of 17.65%. The company had revenue of $ 993.80 million for the quarter, compared to analyst expectations of $ 1.01 billion. For the same quarter last year, the company had earnings per share of $ 0.31. The company’s sales increased by 29.8% compared to the same quarter of the previous year. Sell-side analysts predict that Terex Co. will achieve earnings per share of 2.8 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 17th. Investors registered on Tuesday November 9th will receive a dividend of $ 0.12. The ex-dividend date of this dividend is Monday November 8th. This equates to an annualized dividend of $ 0.48 and a dividend yield of 1.02%. Terex’s payout ratio is currently 18.90%.
Institutional investors and hedge funds have recently added or reduced their stake in the stock. Goldman Sachs Group Inc. increased its stake in Terex shares by 771.7% in the second quarter. Goldman Sachs Group Inc. now owns 1,900,799 shares in the industrial products company valued at $ 90,516,000 after purchasing an additional 1,682,731 shares during the reporting period. Invesco Ltd. increased its stake in Terex by 463.3% in the second quarter. Invesco Ltd. now owns 1,671,985 shares in the industrial products company valued at $ 79,620,000 after adding 1,375,183 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Terex by 3,044.0% in the second quarter. Price T Rowe Associates Inc., MD, now owns 1,213,285 shares in the industrial products company valued at $ 57,777,000 after purchasing an additional 1,174,694 shares during the period. Franklin Resources Inc. added a new position at Terex for $ 48,781,000 in the third quarter. Finally, Vanguard Group Inc. increased its stake in Terex by 8.5% in the second quarter. Vanguard Group Inc. now owns 6,944,174 shares in the industrial products company valued at $ 330,682,000, after acquiring an additional 544,495 shares during the period. 84.54% of the shares are currently owned by institutional investors and hedge funds.
A number of stock analysts recently rated the stock. Morgan Stanley lowered its price target for Terex shares from USD 55.00 to USD 50.00 and in a research report dated Wednesday, October 13, determined an “equilibrium” rating for the stock. Stifel Nicolaus confirmed a “Buy” rating on Terex shares in a research report on Tuesday, August 3rd. Citigroup raised its price target for Terex shares from USD 50.00 to USD 60.00 and gave the share a “Buy” rating in a research report on Tuesday, October 12th. Zacks Investment Research lowered Terex stock from a “strong buy” rating to a “hold” rating and set a price target of $ 47.00 for the stock. in a report on Wednesday September 29th. Finally, Barclays raised its target price on Terex shares from $ 50.00 to $ 55.00 and rated the company as “equilibrium” in a research release on Monday, August 2nd. Four research analysts have given the share a hold rating and twelve with a buy rating. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $ 54.40.
Terex Corp. is active in the manufacture of aerial work platforms, cranes and material processing machines. The company designs, builds, and supports products used in construction, maintenance, manufacturing, energy, minerals, and materials management applications. It operates in the following segments: aerial work platforms and material processing.
Further Reading: Trading Strategy Methods for Retail Investors
This instant news alert was generated through narrative science technology and financial data from MarketBeat to provide readers with the fastest, most accurate coverage. This story has been reviewed by the editorial staff of MarketBeat prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $ 1,000 in Terex now?
This is what you should hear before you consider Terex.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts are whispering to their customers to buy now, before the broader market takes hold … and Terex wasn’t on the list.
While Terex currently has a “Buy” rating from analysts, top-rated analysts think these five stocks are better buys.
Check out the 5 stocks here