Terex Co. (NYSE:TEX) Announces Quarterly Dividend of $0.17

Terex Co. (NYSE:TEX) announced a quarterly dividend on Tuesday, July 30th, RTT News reports. Investors of record on Friday, August 9th will be paid a dividend of 0.17 per share by the industrial products company on Thursday, September 19th. This represents a $0.68 annualized dividend and a dividend yield of 1.03%.

Terex has raised its dividend by an average of 74.7% per year over the last three years. Terex has a dividend payout ratio of 9.7% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of TEX stock traded up $0.03 on Tuesday, hitting $66.29. 42,688 shares of the company’s stock were exchanged, compared to its average volume of 815,436. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.16 and a quick ratio of 1.06. Terex has a 12 month low of $43.70 and a 12 month high of $68.08. The stock has a market cap of $4.46 billion, a P/E ratio of 8.77 and a beta of 1.57. The company has a 50 day moving average of $57.07 and a 200 day moving average of $58.91.

Insider Activity

In other news, insider Kieran Hegarty sold 17,190 shares of the 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 $11,653,689.54. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Stephen Johnston sold 3,239 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total transaction of $200,818.00. Following the sale, the chief accounting officer now owns 14,606 shares in the company, valued at approximately $905,572. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kieran Hegarty sold 17,190 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 200,029 shares in the company, valued at approximately $11,653,689.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,929 shares of company stock valued at $1,958,307. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on TEX shares. Truist Financial dropped their price objective on Terex from $73.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Robert W. Baird upped their target price on Terex from $58.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. upped their target price on Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Jefferies Financial Group lowered their target price on Terex from $68.00 to $55.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Finally, Citigroup began coverage on Terex in a report on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Terex has an average rating of “Hold” and a consensus price target of $64.33.

Terex Company Profile

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.