Terex Corporation (NYSE:TEX) VP Eric I. Cohen sold 8,892 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $39.50, for a total transaction of $351,234.00. Following the completion of the sale, the vice president now owns 196,280 shares in the company, valued at approximately $7,753,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Eric I. Cohen also recently made the following trade(s):
- On Monday, August 14th, Eric I. Cohen sold 3,392 shares of Terex Corporation stock. The stock was sold at an average price of $39.23, for a total transaction of $133,068.16.
Terex Corporation (NYSE TEX) opened at 41.73 on Wednesday. The stock’s market capitalization is $3.73 billion. Terex Corporation has a 12-month low of $21.88 and a 12-month high of $41.89. The firm’s 50-day moving average is $38.56 and its 200 day moving average is $34.88.
Terex Corporation (NYSE:TEX) last posted its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.09. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the company posted $0.64 EPS. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. Equities analysts expect that Terex Corporation will post $1.15 EPS for the current year.
Terex Corporation declared that its board has authorized a share buyback program on Tuesday, May 30th that authorizes the company to buyback $280.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 8.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Wednesday, August 9th will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, August 7th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.77%. Terex Corporation’s dividend payout ratio (DPR) is presently -50.79%.
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Several analysts recently commented on TEX shares. TheStreet upgraded shares of Terex Corporation from a “c” rating to a “b” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Terex Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Thursday, July 13th. Credit Suisse Group set a $45.00 price target on shares of Terex Corporation and gave the company a “buy” rating in a research report on Monday, June 26th. UBS AG restated a “buy” rating and set a $44.00 price target (up previously from $40.00) on shares of Terex Corporation in a research report on Tuesday, August 8th. Finally, Deutsche Bank AG set a $44.00 price target on shares of Terex Corporation and gave the company a “buy” rating in a research report on Thursday, August 3rd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $36.63.
Several large investors have recently bought and sold shares of the company. Bank of Montreal Can grew its stake in Terex Corporation by 1.5% in the 1st quarter. Bank of Montreal Can now owns 46,148 shares of the industrial products company’s stock valued at $1,448,000 after acquiring an additional 661 shares during the last quarter. Nationwide Fund Advisors grew its stake in Terex Corporation by 6.7% in the 1st quarter. Nationwide Fund Advisors now owns 198,832 shares of the industrial products company’s stock valued at $6,243,000 after acquiring an additional 12,487 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in Terex Corporation by 1.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 37,491 shares of the industrial products company’s stock valued at $1,177,000 after acquiring an additional 500 shares during the last quarter. Wells Fargo & Company MN grew its stake in Terex Corporation by 6.5% in the 1st quarter. Wells Fargo & Company MN now owns 427,548 shares of the industrial products company’s stock valued at $13,425,000 after acquiring an additional 25,980 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Terex Corporation by 32.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 96,300 shares of the industrial products company’s stock valued at $3,024,000 after acquiring an additional 23,600 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.
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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