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

Terex Co. (NYSE:TEX) CEO Simon Meester sold 9,877 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total transaction of $505,109.78. Following the sale, the chief executive officer now directly owns 127,858 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Terex Stock Down 2.2 %

TEX stock traded down $1.09 during midday trading on Friday, reaching $49.55. 794,539 shares of the company were exchanged, compared to its average volume of 801,780. The stock’s 50-day simple moving average is $53.64 and its 200 day simple moving average is $54.71. Terex Co. has a 1-year low of $48.11 and a 1-year high of $68.08. 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 company has a market cap of $3.31 billion, a price-to-earnings ratio of 7.23, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53.

Terex (NYSE:TEX) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company earned $1.75 earnings per share. Terex’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, equities analysts forecast that Terex Co. will post 6.07 earnings per share for the current year.

Terex Announces Dividend

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 given a $0.17 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.68 annualized dividend and a yield of 1.37%. Terex’s dividend payout ratio (DPR) is 9.93%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. TCW Group Inc. purchased a new position in shares of Terex in the 2nd quarter valued at approximately $566,000. Chartwell Investment Partners LLC purchased a new position in Terex in the 3rd quarter valued at $559,000. Edgestream Partners L.P. increased its stake in Terex by 181.6% in 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 during the period. GSA Capital Partners LLP acquired a new position in Terex in the 3rd quarter valued at $615,000. Finally, AQR Capital Management LLC raised its position in 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 worth $99,045,000 after buying an additional 285,750 shares during the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TEX has been the topic of a number of recent research reports. Citigroup cut their price objective on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. Robert W. Baird cut their price target on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. The Goldman Sachs Group lowered their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. JPMorgan Chase & Co. reduced their target price 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. Finally, Evercore ISI lowered their price target on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $59.56.

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.