Terex Co. (NYSE: TEX) announces quarterly dividend of $ 0.12. out
Terex Co. (NYSE: TEX) announced a quarterly dividend on Friday, July 16, reports RTT News. Shareholders registered on Thursday, August 12, will be paid a dividend of 0.12 per share by the industrial products company on Monday, September 20. This equates to an annual dividend of $ 0.48 and a dividend yield of 1.10%.
Terex has reduced its dividend payment by 62.5% over the past three years and has increased its dividend annually for the past 1 consecutive years.
The TEX share traded around $ 1.59 during Friday’s trading and hit $ 43.56. The company had a trading volume of 1,290,629 shares versus an average volume of 686,932. The company has a 50-day simple moving average of $ 49.04. The company has a market cap of $ 3.04 billion, a P / E of 56.49, and a beta of 1.69. The company has a debt of 1.03, a quick ratio of 1.48 and a current ratio of 2.27. Terex has a twelve month low of $ 18.00 and a twelve month high of $ 55.60.
Terex (NYSE: TEX) last released its earnings results on Thursday, April 29th. The industrial products company reported $ 0.56 EPS for the quarter, beating analysts’ consensus estimate of $ 0.22 by $ 0.34. The company posted revenue of $ 864.20 million for the quarter, compared to analyst expectations of $ 821.19 million. Terex had a net margin of 1.75% and a return on equity of 8.34%. As a group, the analysts expect Terex to post earnings per share of 2.57 for the current year.
TEX has been the subject of a number of new analyst reports. JPMorgan Chase & Co. upgraded Terex shares from a “neutral” rating to an “overweight” rating and set a price target of $ 61.00 for the company in a research release on Tuesday. Deutsche Bank Aktiengesellschaft upgraded Terex stock from a “Hold” rating to a “Buy” rating and lowered its price target for the company from $ 53.00 in a research note on Thursday, July 8th $ 52.00. Robert W. Baird raised his price target for Terex shares from USD 50.00 to USD 57.00 and rated the company as “outperform” in a research release on Friday April 30th. Morgan Stanley raised its price target on Terex shares from $ 51.00 to $ 54.00 and gave the company an “equilibrium” rating in a research note on Tuesday. Finally, KeyCorp raised its price target on Terex shares from $ 57.00 to $ 59.00 and rated the company as “overweight” in a research release on Wednesday, May 19. One analyst rated the stock with a sell rating, six with a hold rating and eleven with a buy rating. The company currently has an average rating of “Buy” and an average price target of $ 46.18.
In related news, CEO John L. Garrison, Jr. sold 50,000 shares in the company in one transaction on Tuesday, May 4. The shares were sold at an average price of $ 50.09 for a total value of $ 2,504,500.00. Upon completion of the sale, the chief executive officer now owns 639,010 shares in the company valued at approximately $ 32,008,010.90. The sale was announced in a legal filing with the SEC, which is available through this hyperlink. In addition, director Andra Rush sold 11,587 shares in the company in one transaction on Wednesday May 12th. The stock was sold at an average price of $ 52.81 for a total transaction of $ 611,909.47. Upon completion of the sale, the director now directly owns 18,645 shares in the company valued at approximately $ 984,642.45. The disclosure for this sale can be found here. In the past three months, insiders sold 146,323 shares in the company, valued at $ 7,578,284. 2.90% of the shares are owned by insiders.
Terex Corporation manufactures and sells aerial work platforms and material processing machines worldwide. The company operates in two segments, Aerial Work Platforms (AWP) and Materials Processing (MP). The AWP segment develops, manufactures, services and markets aerial work platform equipment, utility equipment and telehandlers, mainly under the Terex and Genie brand names.
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