Insider Buying: Terex Co. (NYSE:TEX) Director Buys 20,000 Shares of Stock

Terex Co. (NYSE:TEX) Director David A. Sachs bought 20,000 shares of Terex stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $49.75 per share, for a total transaction of $995,000.00. Following the purchase, the director now owns 137,500 shares of the company’s stock, valued at approximately $6,840,625. This trade represents a 17.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Terex Stock Down 0.5 %

Shares of TEX traded down $0.26 during mid-day trading on Tuesday, hitting $47.88. 54,054 shares of the company traded hands, compared to its average volume of 800,717. Terex Co. has a 1-year low of $47.88 and a 1-year high of $68.08. 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 capitalization of $3.20 billion, a PE ratio of 7.03, a price-to-earnings-growth ratio of 4.00 and a beta of 1.53. The business has a 50 day moving average of $53.53 and a 200 day moving average of $54.49.

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

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be issued a $0.17 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.68 annualized dividend and a yield of 1.42%. Terex’s dividend payout ratio (DPR) is presently 9.93%.

Wall Street Analysts Forecast Growth

TEX has been the topic of a number of recent research reports. Citigroup dropped their price target on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. Truist Financial upped their price objective on shares of Terex from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. The Goldman Sachs Group reduced their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Robert W. Baird dropped their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $59.56.

Hedge Funds Weigh In On Terex

Hedge funds and other institutional investors have recently bought and sold shares of the business. Chartwell Investment Partners LLC acquired a new position in Terex in the 3rd quarter worth approximately $559,000. Edgestream Partners L.P. boosted its position in Terex by 181.6% during the second quarter. Edgestream Partners L.P. now owns 68,898 shares of the industrial products company’s stock worth $3,778,000 after acquiring an additional 44,432 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Terex during the third quarter worth about $615,000. AQR Capital Management LLC boosted its position in Terex by 18.4% during 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 last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Terex during the third quarter worth about $4,283,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

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.