Terex (NYSE:TEX) Shares Gap Down to $65.70

Terex Co. (NYSE:TEX) gapped down before the market opened on Wednesday . The stock had previously closed at $65.70, but opened at $62.65. Terex shares last traded at $60.59, with a volume of 89,760 shares.

Analyst Ratings Changes

TEX has been the subject of several research analyst reports. Truist Financial lowered their target price on Terex from $73.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. UBS Group boosted their target price on Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. 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 research note on Thursday, July 11th. Robert W. Baird upped their price objective on Terex from $58.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Citigroup began coverage on shares of Terex in a research report on Wednesday, June 26th. They set a “neutral” rating and a $60.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $64.33.

Terex Trading Down 3.7 %

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 2.16. The business has a fifty day moving average of $57.17 and a 200-day moving average of $59.00. The company has a market capitalization of $4.26 billion, a P/E ratio of 8.38 and a beta of 1.57.

Terex (NYSE:TEX) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.10. Terex had a return on equity of 30.53% and a net margin of 9.87%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the business earned $2.35 EPS. The business’s revenue was down 1.5% on a year-over-year basis. Analysts anticipate that Terex Co. will post 7.09 earnings per share for the current fiscal year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 9th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Friday, August 9th. Terex’s dividend payout ratio is presently 9.01%.

Insider Buying and Selling

In other Terex news, CAO Stephen Johnston sold 3,239 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total value of $200,818.00. Following the completion of the transaction, 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. In other news, CAO Stephen Johnston sold 3,239 shares of Terex 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 completion of 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 is accessible through this hyperlink. Also, insider Kieran Hegarty sold 17,190 shares of Terex stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $58.26, for a total value of $1,001,489.40. Following the sale, the insider now owns 200,029 shares of the company’s stock, valued at approximately $11,653,689.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,929 shares of company stock valued at $1,958,307. 1.90% of the stock is owned by insiders.

Institutional Trading of Terex

A number of hedge funds have recently bought and sold shares of the company. Blue Trust Inc. increased its stake in Terex by 57.5% in the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 187 shares during the period. SummerHaven Investment Management LLC increased its stake in Terex by 1.6% in the 4th quarter. SummerHaven Investment Management LLC now owns 11,692 shares of the industrial products company’s stock worth $672,000 after purchasing an additional 188 shares during the period. Greenwich Wealth Management LLC increased its stake in Terex by 0.3% in the 4th quarter. Greenwich Wealth Management LLC now owns 61,670 shares of the industrial products company’s stock worth $3,544,000 after purchasing an additional 209 shares during the period. FCG Investment Co increased its stake in Terex by 3.5% in the 2nd quarter. FCG Investment Co now owns 6,534 shares of the industrial products company’s stock worth $358,000 after purchasing an additional 220 shares during the period. Finally, QRG Capital Management Inc. increased its stake in shares of Terex by 4.6% during the fourth quarter. QRG Capital Management Inc. now owns 5,332 shares of the industrial products company’s stock valued at $306,000 after buying an additional 234 shares during the period. Institutional investors own 92.88% of the company’s stock.

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.