Terex Co. (TEX) to Issue Quarterly Dividend of $0.17 on September 19th

Terex Co. (NYSE:TEX) declared a quarterly dividend on Tuesday, July 30th, RTT News reports. Investors of record on Friday, August 9th will be given a dividend of 0.17 per share by the industrial products company on Thursday, September 19th. This represents a $0.68 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Friday, August 9th.

Terex has raised its dividend payment by an average of 74.7% annually over the last three years. Terex has a payout ratio of 9.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Terex to earn $7.00 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 9.7%.

Terex Stock Down 3.7 %

Terex stock opened at $63.26 on Thursday. The stock’s 50 day moving average price is $57.17 and its 200 day moving average price is $59.00. Terex has a 1-year low of $43.70 and a 1-year high of $68.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.16 and a quick ratio of 1.06. The company has a market cap of $4.26 billion, a PE ratio of 8.38 and a beta of 1.57.

Terex (NYSE:TEX) last released its earnings results on Tuesday, July 30th. The industrial products company reported $2.16 EPS for the quarter, topping the consensus estimate of $2.06 by $0.10. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. Terex had a net margin of 9.55% and a return on equity of 28.71%. Terex’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.35 EPS. On average, sell-side analysts predict that Terex will post 7.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on TEX shares. Jefferies Financial Group decreased their price target on shares of Terex from $68.00 to $55.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. JPMorgan Chase & Co. boosted their price target on shares of Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Citigroup assumed coverage on Terex in a research report on Wednesday, June 26th. They set a “neutral” rating and a $60.00 price target on the stock. UBS Group boosted their price target on Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Finally, Truist Financial decreased their target price on Terex from $73.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Terex currently has an average rating of “Hold” and a consensus price target of $64.33.

Insiders Place Their Bets

In related news, VP Scott Posner sold 12,500 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $60.48, for a total value of $756,000.00. Following the transaction, the vice president now directly owns 58,224 shares in the company, valued at approximately $3,521,387.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Kieran Hegarty sold 17,190 shares of Terex stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $58.26, for a total value of $1,001,489.40. Following the completion of the sale, the insider now owns 200,029 shares of the company’s stock, valued at approximately $11,653,689.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Scott Posner sold 12,500 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $60.48, for a total transaction of $756,000.00. Following the transaction, the vice president now owns 58,224 shares of the company’s stock, valued at $3,521,387.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,929 shares of company stock worth $1,958,307. 1.90% of the stock is currently owned by insiders.

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.