Several other brokerages have also recently issued reports on TEX. KeyCorp reiterated a hold rating on shares of Terex in a research note on Wednesday, November 1st. Citigroup boosted their price target on Terex from $39.00 to $49.00 and gave the company a neutral rating in a research note on Friday, October 13th. ValuEngine cut Terex from a buy rating to a hold rating in a research note on Friday, December 1st. Wells Fargo & Company set a $52.00 price target on Terex and gave the company a buy rating in a research note on Monday, October 16th. Finally, Zacks Investment Research upgraded Terex from a hold rating to a buy rating and set a $51.00 price target for the company in a research note on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Terex currently has an average rating of Hold and a consensus target price of $41.93.
Shares of Terex (TEX) traded down $0.33 during mid-day trading on Tuesday, hitting $46.00. The company had a trading volume of 1,062,400 shares, compared to its average volume of 1,445,564. The company has a current ratio of 2.42, a quick ratio of 1.53 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $3,896.35, a PE ratio of 41.00, a P/E/G ratio of 3.20 and a beta of 1.88. Terex has a fifty-two week low of $28.67 and a fifty-two week high of $48.86.
Terex declared that its Board of Directors has approved a stock repurchase plan on Wednesday, September 6th that permits the company to buyback $225.00 million in shares. This buyback authorization permits the industrial products company to repurchase up to 6.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Thursday, November 9th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.32 annualized dividend and a yield of 0.70%. Terex’s dividend payout ratio is currently -37.21%.
In other Terex news, insider Kevin A. Barr sold 2,682 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $43.05, for a total transaction of $115,460.10. Following the completion of the transaction, the insider now directly owns 126,762 shares in the company, valued at $5,457,104.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Eric I. Cohen sold 8,892 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $39.50, for a total transaction of $351,234.00. Following the transaction, the vice president now owns 196,280 shares of the company’s stock, valued at $7,753,060. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 1,204 shares of company stock valued at $51,805 and have sold 54,737 shares valued at $2,308,703. 2.50% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the company. Sei Investments Co. increased its holdings in shares of Terex by 19.5% during the second quarter. Sei Investments Co. now owns 3,800 shares of the industrial products company’s stock worth $142,000 after buying an additional 619 shares in the last quarter. Clear Perspective Advisors LLC acquired a new position in shares of Terex during the second quarter worth $198,000. Pacer Advisors Inc. increased its holdings in shares of Terex by 450.2% during the third quarter. Pacer Advisors Inc. now owns 4,446 shares of the industrial products company’s stock worth $200,000 after buying an additional 3,638 shares in the last quarter. Invictus RG increased its holdings in shares of Terex by 95.4% during the third quarter. Invictus RG now owns 4,618 shares of the industrial products company’s stock worth $208,000 after buying an additional 2,255 shares in the last quarter. Finally, National Planning Corp acquired a new position in shares of Terex during the second quarter worth $209,000. Institutional investors own 96.87% of the company’s stock.
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Terex Corporation is a manufacturer of lifting and material processing products and services that deliver lifecycle solutions. The Company has three business segments: Aerial Work Platforms (AWP), Cranes and Materials Processing (MP). It delivers lifecycle solutions to a range of industries, including the construction, infrastructure, manufacturing, shipping, utility, quarrying and mining industries.
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