Insider Selling: Terex Corp. (TEX) VP Sells $89,910.00 in Stock
Terex Corp. (NYSE:TEX) VP Eric I. Cohen sold 2,997 shares of the stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $30.00, for a total value of $89,910.00. Following the completion of the sale, the vice president now owns 193,139 shares of the company’s stock, valued at $5,794,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 shares were sold at an average price of $26.44, for a total value of $257,763.56.
Shares of Terex Corp. (NYSE:TEX) opened at 30.52 on Thursday. Terex Corp. has a 1-year low of $13.62 and a 1-year high of $31.44. The firm has a 50-day moving average of $25.73 and a 200 day moving average of $23.67. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 31.08 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 analysts’ consensus estimates of $0.22 by $0.03. Terex Corp. had a net margin of 2.01% and a return on equity of 7.39%. The firm earned $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the firm posted $0.44 EPS. Terex Corp.’s revenue was down 15.9% compared to the same quarter last year. Equities research analysts forecast that Terex Corp. will post $0.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Thursday, November 10th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Tuesday, November 8th. Terex Corp.’s payout ratio is 28.57%.
Institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Terex Corp. by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,170 shares of the company’s stock worth $106,000 after buying an additional 407 shares during the last quarter. BOKF NA boosted its position in shares of Terex Corp. by 97.1% in the second quarter. BOKF NA now owns 5,237 shares of the company’s stock valued at $107,000 after buying an additional 2,580 shares in the last quarter. Riverhead Capital Management LLC bought a new position in shares of Terex Corp. during the third quarter valued at about $132,000. LS Investment Advisors LLC boosted its position in shares of Terex Corp. by 70.2% in the second quarter. LS Investment Advisors LLC now owns 6,648 shares of the company’s stock valued at $135,000 after buying an additional 2,743 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Terex Corp. by 47.5% in the third quarter. Sei Investments Co. now owns 5,284 shares of the company’s stock valued at $135,000 after buying an additional 1,701 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.
A number of analysts recently weighed in on TEX shares. Stifel Nicolaus set a $29.00 price objective on Terex Corp. and gave the company a “buy” rating in a report on Wednesday, August 3rd. Bank of America Corp. raised shares of Terex Corp. from an “underperform” rating to a “buy” rating and upped their price target for the company from $21.00 to $29.00 in a research report on Friday, October 14th. initiated coverage on shares of Terex Corp. in a research report on Friday, September 30th. They set a “buy” rating and a $30.00 price target on the stock. Morgan Stanley reaffirmed a “hold” rating and set a $21.00 price target on shares of Terex Corp. in a research report on Friday, September 16th. Finally, Zacks Investment Research raised shares of Terex Corp. from a “strong sell” rating to a “hold” rating in a research report on Monday, September 12th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Terex Corp. currently has a consensus rating of “Hold” and a consensus target price of $24.50.
About Terex Corp.
Terex Corporation is a lifting and material handling solutions company. The Company is focused on providing its operations and delivering solutions for a range of commercial applications, including the construction, infrastructure, mining, manufacturing, transportation, energy and utility industries.
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