Terex (NYSE:TEX) Hits New 1-Year Low After Insider Selling

Terex Co. (NYSE:TEX) shares reached a new 52-week low during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $47.92 and last traded at $48.00, with a volume of 624118 shares trading hands. The stock had previously closed at $49.55.

Specifically, 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 transaction of $505,109.78. Following the sale, the chief executive officer now owns 127,858 shares in the company, valued at approximately $6,538,658.12. This trade represents a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

Several research analysts have commented on TEX shares. JPMorgan Chase & Co. lowered their price objective on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Truist Financial raised their price objective on Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Evercore ISI lowered their target price on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, August 19th. Robert W. Baird reduced their price target 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, The Goldman Sachs Group lowered their price objective on shares of Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $59.56.

Terex Stock Down 2.9 %

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39. The stock’s fifty day simple moving average is $53.53 and its two-hundred day simple moving average is $54.49. The stock has a market capitalization of $3.22 billion, a P/E ratio of 7.03, a price-to-earnings-growth ratio of 4.00 and a beta of 1.53.

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

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.41%. Terex’s dividend payout ratio (DPR) is 9.93%.

Institutional Trading of Terex

Institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its holdings in Terex by 1.0% in the third quarter. Franklin Resources Inc. now owns 81,450 shares of the industrial products company’s stock valued at $4,512,000 after buying an additional 795 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Terex in the 3rd quarter valued at about $40,000. Sanctuary Advisors LLC boosted its position in shares of Terex by 7.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,610 shares of the industrial products company’s stock valued at $571,000 after purchasing an additional 717 shares in the last quarter. Virtu Financial LLC acquired a new stake in Terex during the third quarter worth approximately $704,000. Finally, Invst LLC bought a new stake in Terex in the third quarter worth approximately $206,000. 92.88% of the stock is currently owned by 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.