Terex (NYSE:TEX) has earned a consensus recommendation of “Hold” from the twenty research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $46.07.
A number of equities research analysts recently commented on TEX shares. Zacks Investment Research lowered Terex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Robert W. Baird reiterated a “buy” rating and issued a $52.00 target price on shares of Terex in a research report on Thursday, December 21st. Deutsche Bank dropped their target price on Terex from $49.00 to $48.00 and set a “hold” rating on the stock in a research report on Thursday, February 15th. Credit Suisse Group dropped their target price on Terex from $61.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Finally, TheStreet lowered Terex from a “b” rating to a “c” rating in a research report on Wednesday, February 14th.
NYSE TEX traded up $0.65 during trading hours on Wednesday, reaching $40.29. The stock had a trading volume of 1,464,054 shares, compared to its average volume of 1,533,664. The firm has a market cap of $3,163.86, a P/E ratio of 29.84, a P/E/G ratio of 0.95 and a beta of 1.80. Terex has a 52-week low of $31.25 and a 52-week high of $50.17. The company has a quick ratio of 1.36, a current ratio of 2.30 and a debt-to-equity ratio of 0.80.
Terex announced that its board has approved a stock buyback program on Wednesday, February 7th that authorizes the company to repurchase $325.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 19th. Shareholders of record on Friday, March 9th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, March 8th. This is a positive change from Terex’s previous quarterly dividend of $0.08. Terex’s dividend payout ratio is currently 29.63%.
In other news, insider Matthew Fearon sold 30,306 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $39.48, for a total transaction of $1,196,480.88. Following the completion of the transaction, the insider now directly owns 114,664 shares of the company’s stock, valued at approximately $4,526,934.72. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director David A. Sachs bought 6,500 shares of Terex stock in a transaction dated Friday, March 23rd. The shares were acquired at an average cost of $36.59 per share, with a total value of $237,835.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 11,343 shares of company stock worth $419,457 and sold 49,411 shares worth $2,090,346. Corporate insiders own 3.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Xact Kapitalforvaltning AB acquired a new position in shares of Terex during the 4th quarter worth approximately $398,000. MetLife Investment Advisors LLC acquired a new position in shares of Terex during the 4th quarter worth approximately $2,438,000. LPL Financial LLC acquired a new position in shares of Terex during the 4th quarter worth approximately $211,000. Millennium Management LLC raised its stake in shares of Terex by 93.0% during the 4th quarter. Millennium Management LLC now owns 551,612 shares of the industrial products company’s stock worth $26,599,000 after buying an additional 265,755 shares during the period. Finally, Flinton Capital Management LLC raised its stake in shares of Terex by 11.8% during the 4th quarter. Flinton Capital Management LLC now owns 17,102 shares of the industrial products company’s stock worth $825,000 after buying an additional 1,802 shares during the period. 97.80% of the stock is owned by institutional investors and hedge funds.
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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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