Terex Co. (NYSE:TEX) declared a quarterly dividend on Thursday, August 1st, RTT News reports. Investors of record on Monday, August 12th will be paid a dividend of 0.11 per share by the industrial products company on Thursday, September 19th. This represents a $0.44 annualized dividend and a yield of 1.66%. The ex-dividend date is Friday, August 9th.
Terex has increased its dividend payment by an average of 18.6% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Terex has a dividend payout ratio of 15.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Terex to earn $3.65 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 12.1%.
Shares of Terex stock opened at $26.55 on Thursday. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 8.26, a price-to-earnings-growth ratio of 0.89 and a beta of 1.73. Terex has a fifty-two week low of $25.47 and a fifty-two week high of $42.74. The company has a quick ratio of 1.43, a current ratio of 2.21 and a debt-to-equity ratio of 1.68. The stock has a 50 day simple moving average of $30.27.
A number of research analysts have commented on TEX shares. TheStreet upgraded Terex from a “c” rating to a “b-” rating in a research note on Thursday, May 2nd. Royal Bank of Canada set a $35.00 price target on Terex and gave the stock a “hold” rating in a research note on Wednesday, July 31st. UBS Group set a $34.00 price target on Terex and gave the stock a “hold” rating in a research note on Wednesday, July 31st. BMO Capital Markets decreased their price target on Terex to $30.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 31st. Finally, ValuEngine upgraded Terex from a “strong sell” rating to a “sell” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.92.
In other news, Director International Master F. Marcato sold 1,600,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $27.31, for a total value of $43,696,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have acquired 1,581 shares of company stock worth $46,020 over the last 90 days. 4.00% of the stock is owned by insiders.
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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