Shares of Terex Co. (NYSE:TEX) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $35.28 and last traded at $35.23, with a volume of 29596 shares trading hands. The stock had previously closed at $36.84.
A number of analysts have issued reports on TEX shares. UBS Group set a $52.00 target price on shares of Terex and gave the company a “buy” rating in a research note on Wednesday, August 22nd. Zacks Investment Research upgraded shares of Terex from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Tuesday, July 17th. Seaport Global Securities set a $49.00 target price on shares of Terex and gave the company a “buy” rating in a research note on Friday, July 13th. ValuEngine upgraded shares of Terex from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Finally, Wells Fargo & Co cut shares of Terex from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 19th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.50.
The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.19 and a current ratio of 2.11. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 0.54 and a beta of 1.52.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Friday, November 9th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, November 8th. Terex’s payout ratio is 29.63%.
Terex announced that its Board of Directors has authorized a share buyback program on Thursday, July 12th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the industrial products company to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
In other news, insider Kevin A. Barr sold 11,937 shares of the business’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $38.43, for a total value of $458,738.91. Following the completion of the sale, the insider now directly owns 101,980 shares in the company, valued at $3,919,091.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steve Filipov sold 6,929 shares of the business’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $38.85, for a total transaction of $269,191.65. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 1,344 shares of company stock valued at $52,633 and sold 38,866 shares valued at $1,514,531. 3.50% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Delta Capital Management LLC bought a new position in Terex during the second quarter worth $212,000. Lido Advisors LLC bought a new position in Terex during the second quarter worth $246,000. Strs Ohio bought a new position in Terex during the second quarter worth $307,000. Pinnacle Associates Ltd. increased its position in Terex by 32.4% during the second quarter. Pinnacle Associates Ltd. now owns 8,170 shares of the industrial products company’s stock worth $345,000 after acquiring an additional 2,001 shares during the period. Finally, GAM Holding AG bought a new position in Terex during the second quarter worth $360,000. 98.76% of the stock is currently owned by institutional investors and hedge funds.
Terex Company Profile (NYSE:TEX)
Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.
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