OTR Global lowered shares of Terex Corporation (NYSE:TEX) to a positive rating in a research report sent to investors on Wednesday morning, The Fly reports.
A number of other equities research analysts also recently weighed in on the stock. Credit Suisse Group set a $45.00 target price on shares of Terex Corporation and gave the company a buy rating in a research note on Monday, June 26th. BMO Capital Markets reissued a hold rating and set a $35.00 price target on shares of Terex Corporation in a research note on Thursday, July 20th. BidaskClub raised shares of Terex Corporation from a buy rating to a strong-buy rating in a research note on Tuesday, June 13th. Goldman Sachs Group, Inc. (The) downgraded shares of Terex Corporation from a buy rating to a neutral rating and set a $37.00 price target on the stock. in a research note on Thursday, June 15th. Finally, Wells Fargo & Company reissued an outperform rating and set a $41.00 price target (up from $38.50) on shares of Terex Corporation in a research note on Monday, June 19th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Terex Corporation currently has a consensus rating of Hold and a consensus target price of $38.00.
Shares of Terex Corporation (NYSE:TEX) opened at 43.47 on Wednesday. The firm’s 50-day moving average is $39.01 and its 200-day moving average is $35.16. Terex Corporation has a 12-month low of $21.88 and a 12-month high of $43.67. The company’s market capitalization is $3.89 billion.
Terex Corporation (NYSE:TEX) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.09. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.15 billion. Terex Corporation had a negative net margin of 1.76% and a positive return on equity of 4.98%. Terex Corporation’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. On average, equities analysts predict that Terex Corporation will post $1.15 EPS for the current year.
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Terex Corporation declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 30th that permits the company to repurchase $280.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 8.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Wednesday, August 9th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Monday, August 7th. Terex Corporation’s dividend payout ratio is -50.79%.
In other news, SVP Brian J. Henry sold 10,154 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $40.00, for a total value of $406,160.00. Following the transaction, the senior vice president now owns 313,263 shares in the company, valued at $12,530,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin Bradley sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $37.30, for a total transaction of $111,900.00. Following the completion of the transaction, the senior vice president now owns 51,612 shares in the company, valued at approximately $1,925,127.60. The disclosure for this sale can be found here. In the last 90 days, insiders bought 4,202 shares of company stock worth $159,449 and sold 87,560 shares worth $3,410,477. 2.50% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in TEX. Sei Investments Co. boosted its holdings in Terex Corporation by 19.5% in the second quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock valued at $142,000 after acquiring an additional 619 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Terex Corporation by 7.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,563 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 403 shares in the last quarter. US Bancorp DE boosted its holdings in Terex Corporation by 9.3% in the first quarter. US Bancorp DE now owns 5,989 shares of the industrial products company’s stock valued at $188,000 after acquiring an additional 510 shares in the last quarter. Clear Perspective Advisors LLC bought a new stake in Terex Corporation in the second quarter valued at $198,000. Finally, National Planning Corp bought a new stake in Terex Corporation in the second quarter valued at $209,000. Institutional investors and hedge funds own 97.40% of the company’s stock.
About Terex Corporation
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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