Insider Selling: 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 dated Wednesday, December 11th. The shares were 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 of the company’s stock, valued at $6,538,658.12. The trade was a 7.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Terex Stock Performance

NYSE:TEX opened at $49.55 on Monday. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 7.23, a PEG ratio of 4.00 and a beta of 1.53. Terex Co. has a 1 year low of $48.11 and a 1 year high of $68.08. The stock’s 50 day simple moving average is $53.61 and its two-hundred day simple moving average is $54.57. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16.

Terex (NYSE:TEX) last posted its 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. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.16 billion. Terex had a net margin of 9.08% and a return on equity of 24.92%. Terex’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the firm posted $1.75 earnings per share. As a group, equities analysts anticipate that Terex Co. will post 6.07 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, December 19th. Stockholders 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 dividend yield of 1.37%. The ex-dividend date is Friday, November 8th. Terex’s dividend payout ratio is 9.93%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Blue Trust Inc. raised its position in Terex by 57.5% during the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 187 shares during the period. GAMMA Investing LLC increased its position in shares of Terex by 83.3% during the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 335 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Terex during the 3rd quarter valued at $40,000. Truvestments Capital LLC bought a new stake in Terex in the third quarter worth $41,000. Finally, Farther Finance Advisors LLC boosted its stake in Terex by 74.6% during the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after buying an additional 504 shares during the period. Institutional investors own 92.88% of the company’s stock.

Analyst Upgrades and Downgrades

TEX has been the subject of several recent research reports. JPMorgan Chase & Co. cut their price target on Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Truist Financial boosted their price objective on Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Robert W. Baird cut their target price on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Citigroup lowered their price target on Terex from $60.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. Finally, Evercore ISI dropped their price target on Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a research note 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $59.56.

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.