Terex Co. (NYSE:TEX – Get Rating) VP Amy George sold 5,000 shares of Terex stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the transaction, the vice president now directly owns 91,240 shares of the company’s stock, valued at $5,474,400. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Amy George also recently made the following trade(s):
- On Wednesday, February 22nd, Amy George sold 5,000 shares of Terex stock. The shares were sold at an average price of $56.00, for a total transaction of $280,000.00.
Terex Trading Down 1.5 %
TEX stock opened at $59.40 on Tuesday. Terex Co. has a 52-week low of $26.64 and a 52-week high of $60.85. The company has a quick ratio of 0.97, a current ratio of 1.96 and a debt-to-equity ratio of 0.65. The firm has a market cap of $4.01 billion, a P/E ratio of 13.69, a PEG ratio of 0.66 and a beta of 1.67. The company’s 50-day simple moving average is $50.79 and its 200-day simple moving average is $42.42.
Terex declared that its board has authorized a stock repurchase plan on Monday, December 19th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Terex Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 20th. Investors of record on Thursday, March 9th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.01%. This is a boost from Terex’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Wednesday, March 8th. Terex’s payout ratio is presently 11.98%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on TEX. Citigroup cut Terex from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $45.00 to $63.00 in a research report on Wednesday, February 15th. Credit Suisse Group boosted their price target on Terex from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, February 13th. Barclays increased their price objective on shares of Terex from $38.00 to $56.00 and gave the company an “equal weight” rating in a research report on Monday, February 13th. Stifel Nicolaus boosted their target price on shares of Terex from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, January 20th. Finally, The Goldman Sachs Group lifted their price objective on shares of Terex from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, December 15th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $54.83.
Institutional Trading of Terex
Several large investors have recently made changes to their positions in TEX. Chartwell Investment Partners LLC grew its holdings in shares of Terex by 6.0% during the fourth quarter. Chartwell Investment Partners LLC now owns 21,479 shares of the industrial products company’s stock worth $917,000 after buying an additional 1,217 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new position in Terex in the 4th quarter worth approximately $239,000. State of Wisconsin Investment Board boosted its holdings in shares of Terex by 1.4% during the 4th quarter. State of Wisconsin Investment Board now owns 115,649 shares of the industrial products company’s stock worth $4,941,000 after purchasing an additional 1,632 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Terex in the fourth quarter valued at approximately $4,701,000. Finally, Legal & General Group Plc lifted its position in Terex by 2.3% during the fourth quarter. Legal & General Group Plc now owns 107,647 shares of the industrial products company’s stock worth $4,599,000 after buying an additional 2,442 shares in the last quarter. 87.37% of the stock is currently owned by hedge funds and other institutional investors.
Terex Company Profile
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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