Terex Co. (NYSE:TEX) CEO Sells $505,109.78 in Stock

Terex Co. (NYSE:TEX) CEO Simon Meester sold 9,877 shares of Terex stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Terex Stock Down 2.1 %

Shares of NYSE TEX opened at $49.57 on Friday. Terex Co. has a 52 week low of $48.11 and a 52 week high of $68.08. The business has a 50-day simple moving average of $53.61 and a two-hundred day simple moving average of $54.63. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.31 billion, a P/E ratio of 7.24, a P/E/G ratio of 4.09 and a beta of 1.53.

Terex (NYSE:TEX) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.16 billion. During the same quarter last year, the firm posted $1.75 EPS. The company’s revenue was down 6.0% compared to the same quarter last year. Research analysts anticipate that Terex Co. will post 6.07 earnings per share for the current fiscal year.

Terex Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TEX. Truist Financial boosted their price objective on Terex from $62.00 to $65.00 and gave the company a “buy” rating in a report on Monday, November 4th. The Goldman Sachs Group decreased their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Evercore ISI decreased their price objective on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, August 19th. Citigroup decreased 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. Finally, Robert W. Baird decreased their price target on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Terex presently has a consensus rating of “Hold” and an average target price of $59.56.

Hedge Funds Weigh In On Terex

Large investors have recently modified their holdings of the company. TCW Group Inc. purchased a new position in shares of Terex during the 2nd quarter valued at about $566,000. Chartwell Investment Partners LLC purchased a new position in shares of Terex during the 3rd quarter valued at about $559,000. Edgestream Partners L.P. raised its holdings in shares of Terex by 181.6% during the 2nd quarter. Edgestream Partners L.P. now owns 68,898 shares of the industrial products company’s stock valued at $3,778,000 after buying an additional 44,432 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Terex during the 3rd quarter valued at about $615,000. Finally, AQR Capital Management LLC raised its holdings in shares of Terex by 18.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock valued at $99,045,000 after buying an additional 285,750 shares in the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.

About Terex

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.