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

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 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Friday, August 9th.

Terex has raised its dividend payment by an average of 74.7% annually over the last three years. Terex has a 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 Stock Performance

Shares of TEX opened at $65.68 on Wednesday. The stock’s 50-day simple moving average is $57.14 and its 200 day simple moving average is $58.97. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 8.70 and a beta of 1.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 2.16. Terex has a 52-week low of $43.70 and a 52-week high of $68.08.

Terex (NYSE:TEX) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the firm posted $2.35 EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. Research analysts forecast that Terex will post 7.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on TEX. UBS Group raised their price target on Terex from $62.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Raymond James began coverage on Terex in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Citigroup began coverage on Terex in a report on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 price target on the stock. Truist Financial lowered their price target on Terex from $73.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. raised their price objective on Terex from $59.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Terex currently has a consensus rating of “Hold” and an average price target of $64.33.

Insider Buying and Selling

In related news, VP Scott Posner sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $60.48, for a total transaction of $756,000.00. Following the transaction, the vice president now directly owns 58,224 shares in the company, valued at approximately $3,521,387.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Kieran Hegarty sold 17,190 shares of Terex 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 sale, the insider now directly owns 200,029 shares in the company, valued at approximately $11,653,689.54. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Scott Posner sold 12,500 shares of Terex stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $60.48, for a total value of $756,000.00. Following the completion of the sale, the vice president now owns 58,224 shares in the company, valued at $3,521,387.52. The disclosure for this sale can be found here. Insiders have sold a total of 32,929 shares of company stock worth $1,958,307 in the last ninety days. 1.90% of the stock is owned by insiders.

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.