Terex Co. (NYSE:TEX) CEO Simon Meester Sells 9,877 Shares

Terex Co. (NYSE:TEX) CEO Simon Meester sold 9,877 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total value of $505,109.78. Following the completion of the sale, the chief executive officer now directly owns 127,858 shares of the company’s stock, valued at approximately $6,538,658.12. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Terex Stock Performance

Shares of TEX stock opened at $49.57 on Friday. The business’s 50-day moving average price is $53.61 and its 200-day moving average price is $54.63. Terex Co. has a 12 month low of $48.11 and a 12 month high of $68.08. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 4.09 and a beta of 1.53. The company has a current ratio of 2.39, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32.

Terex (NYSE:TEX) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. Terex had a return on equity of 24.92% and a net margin of 9.08%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm posted $1.75 earnings per share. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. Equities research analysts forecast that Terex Co. will post 6.07 EPS for the current year.

Terex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, November 8th. Terex’s payout ratio is 9.93%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TEX. Citigroup cut their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. JPMorgan Chase & Co. cut their price target on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Evercore ISI cut their price target on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Truist Financial raised their price target on Terex from $62.00 to $65.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group cut their price target on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $59.56.

Hedge Funds Weigh In On Terex

A number of hedge funds and other institutional investors have recently made changes to their positions in TEX. AQR Capital Management LLC lifted its stake in shares of Terex by 18.4% in the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock worth $99,045,000 after acquiring an additional 285,750 shares during the period. American Century Companies Inc. increased its holdings in Terex by 25.6% in the second quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock worth $72,538,000 after purchasing an additional 269,777 shares in the last quarter. Millennium Management LLC increased its holdings in Terex by 169.0% in the second quarter. Millennium Management LLC now owns 264,885 shares of the industrial products company’s stock worth $14,526,000 after purchasing an additional 166,429 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Terex by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock worth $154,224,000 after purchasing an additional 109,885 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Terex in the third quarter worth approximately $4,283,000. 92.88% of the stock is owned by institutional investors and hedge funds.

Terex Company Profile

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.