Terex (NYSE:TEX) Reaches New 1-Year Low Following Insider Selling

Terex Co. (NYSE:TEX)’s stock price reached a new 52-week low during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $47.92 and last traded at $48.00, with a volume of 624118 shares changing 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 stock was sold at an average price of $51.14, for a total value of $505,109.78. Following the transaction, the chief executive officer now owns 127,858 shares of the company’s stock, valued at $6,538,658.12. This represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Robert W. Baird lowered their target price on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Citigroup lowered their price objective on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd. Truist Financial raised their target price on shares of Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, November 4th. The Goldman Sachs Group lowered their price target 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. 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 research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $59.56.

Terex Trading Down 1.8 %

The company’s 50 day simple moving average is $53.41 and its two-hundred day simple moving average is $54.40. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 6.90, a P/E/G ratio of 4.00 and a beta of 1.53. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32.

Terex (NYSE:TEX) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the firm earned $1.75 EPS. The business’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, research analysts anticipate that Terex Co. will post 6.07 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.44%. The ex-dividend date is Friday, November 8th. Terex’s dividend payout ratio is presently 9.93%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in shares of Terex by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock worth $154,224,000 after purchasing an additional 109,885 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Terex by 18.4% in 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 period. Geode Capital Management LLC raised its holdings in shares of Terex by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,596,070 shares of the industrial products company’s stock worth $84,463,000 after purchasing an additional 8,624 shares during the last quarter. American Century Companies Inc. lifted its position in Terex by 25.6% during the second quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock valued at $72,538,000 after purchasing an additional 269,777 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Terex by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 790,118 shares of the industrial products company’s stock valued at $43,330,000 after purchasing an additional 26,377 shares during the last quarter. 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.