Terex Co. (NYSE:TEX – Get Rating) CEO John L. Garrison, Jr. sold 9,904 shares of the business’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $60.01, for a total value of $594,339.04. Following the sale, the chief executive officer now owns 456,019 shares of the company’s stock, valued at approximately $27,365,700.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Terex Stock Performance
TEX opened at $59.40 on Tuesday. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.66 and a beta of 1.67. The company has a quick ratio of 0.97, a current ratio of 1.96 and a debt-to-equity ratio of 0.65. Terex Co. has a 12-month low of $26.64 and a 12-month high of $60.85. The business has a 50 day moving average of $50.79 and a 200-day moving average of $42.42.
Terex (NYSE:TEX – Get Rating) last posted its quarterly earnings data on Friday, February 10th. The industrial products company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.21. Terex had a return on equity of 27.44% and a net margin of 6.79%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the company earned $0.82 EPS. The company’s revenue was up 23.0% on a year-over-year basis. On average, equities research analysts expect that Terex Co. will post 4.89 earnings per share for the current year.
Terex Increases Dividend
Terex announced that its Board of Directors has authorized a share buyback plan on Monday, December 19th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Institutional Investors Weigh In On Terex
Large investors have recently modified their holdings of the business. Bessemer Group Inc. boosted its holdings in shares of Terex by 130.6% in the 3rd quarter. Bessemer Group Inc. now owns 934 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 529 shares in the last quarter. PrairieView Partners LLC acquired a new stake in shares of Terex during the 3rd quarter valued at $30,000. Ronald Blue Trust Inc. boosted its holdings in shares of Terex by 60.9% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,163 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 440 shares in the last quarter. Money Concepts Capital Corp acquired a new stake in shares of Terex during the 4th quarter valued at $47,000. Finally, Wipfli Financial Advisors LLC acquired a new stake in shares of Terex during the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 87.37% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on TEX. JPMorgan Chase & Co. boosted their target price on Terex from $48.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, February 13th. Morgan Stanley upped their price objective on Terex from $52.00 to $54.00 and gave the company an “equal weight” rating in a report on Monday, February 13th. KeyCorp upped their price objective on Terex from $56.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, February 13th. The Goldman Sachs Group upped their price objective on Terex from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, December 15th. Finally, Barclays upped their price objective on Terex from $38.00 to $56.00 and gave the company an “equal weight” rating in a report on Monday, February 13th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $54.83.
Terex Corp. engages in the manufacturing of aerial work platforms, cranes, and materials processing machinery. It operates through the Material Processing and Aerial Work Platforms segments. The Materials Processing segment designs, manufactures, services and markets materials processing and equipment, including crushers, washing systems, screens, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and their related components and replacement parts.
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