Terex Corp. (NYSE:TEX) VP Eric I. Cohen sold 1,494 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $29.00, for a total value of $43,326.00. Following the sale, the vice president now owns 196,136 shares of the company’s stock, valued at $5,687,944. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Eric I. Cohen also recently made the following trade(s): On Thursday, November 10th, Eric I. Cohen sold 9,749 shares of Terex Corp. stock. The stock was sold at an average price of $26.44, for a total value of $257,763.56.
Terex Corp. (NYSE:TEX) opened at 30.96 on Friday. The firm has a 50-day moving average price of $25.38 and a 200-day moving average price of $23.58. Terex Corp. has a 1-year low of $13.62 and a 1-year high of $31.01. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 31.53 and a beta of 2.34.
Terex Corp. (NYSE:TEX) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.03. Terex Corp. had a net margin of 2.01% and a return on equity of 7.39%. The business earned $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The business’s quarterly revenue was down 15.9% on a year-over-year basis. On average, analysts expect that Terex Corp. will post $0.77 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Thursday, November 10th will be given a $0.07 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.90%. Terex Corp.’s payout ratio is 28.57%.
TEX has been the subject of a number of research reports. Stifel Nicolaus set a $29.00 price objective on Terex Corp. and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. set a $20.00 price objective on Terex Corp. and gave the stock a “hold” rating in a research report on Friday, August 5th. Jefferies Group lowered Terex Corp. from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research report on Tuesday, August 9th. They noted that the move was a valuation call. BMO Capital Markets reiterated a “hold” rating and set a $24.00 price target on shares of Terex Corp. in a report on Monday, August 29th. Finally, Deutsche Bank AG assumed coverage on Terex Corp. in a report on Tuesday, September 6th. They set a “hold” rating and a $26.00 price target for the company. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $24.50.
Several hedge funds have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC raised its position in shares of Terex Corp. by 49.1% in the second quarter. Pzena Investment Management LLC now owns 7,164,504 shares of the company’s stock worth $145,511,000 after buying an additional 2,359,735 shares during the period. Prudential Financial Inc. raised its position in shares of Terex Corp. by 2,882.0% in the second quarter. Prudential Financial Inc. now owns 1,992,054 shares of the company’s stock worth $40,459,000 after buying an additional 1,925,252 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Terex Corp. by 105.3% in the second quarter. TIAA CREF Investment Management LLC now owns 3,191,643 shares of the company’s stock worth $64,822,000 after buying an additional 1,636,964 shares during the period. Deprince Race & Zollo Inc. purchased a new position in shares of Terex Corp. during the third quarter worth $31,182,000. Finally, Schroder Investment Management Group purchased a new position in shares of Terex Corp. during the second quarter worth $23,860,000. 84.20% of the stock is owned by institutional investors.
About Terex Corp.