Terex (NYSE:TEX) Hits New 52-Week Low on Insider Selling

Shares of Terex Co. (NYSE:TEX) reached a new 52-week low during mid-day trading on Monday following insider selling activity. The stock traded as low as $47.92 and last traded at $48.00, with a volume of 624118 shares trading hands. The stock had previously closed at $49.55.

Specifically, CEO Simon Meester sold 9,877 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total transaction of $505,109.78. Following the completion of the transaction, the chief executive officer now directly owns 127,858 shares in the company, valued at $6,538,658.12. The trade was 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 at this link.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TEX shares. The Goldman Sachs Group decreased their price target on shares of Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. JPMorgan Chase & Co. lowered their price target on shares of Terex from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Robert W. Baird reduced their price objective on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Truist Financial increased their target price on Terex from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Evercore ISI reduced their price target on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Terex currently has an average rating of “Hold” and an average price target of $59.56.

Terex Trading Down 3.0 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. The firm has a fifty day simple moving average of $53.61 and a 200-day simple moving average of $54.57. The firm has a market cap of $3.21 billion, a P/E ratio of 7.23, a price-to-earnings-growth ratio of 4.00 and a beta of 1.53.

Terex (NYSE:TEX) last released its quarterly earnings data 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 for 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%. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period last year, the firm earned $1.75 earnings per share. On average, equities research analysts expect that Terex Co. will post 6.07 earnings per share for the current year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, November 8th will be paid a $0.17 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.42%. Terex’s payout ratio is 9.93%.

Institutional Investors Weigh In On Terex

A number of institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. grew 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 buying an additional 187 shares during the period. GAMMA Investing LLC raised its stake in shares of Terex by 83.3% in the third quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company’s stock valued at $39,000 after buying an additional 335 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Terex during the 3rd quarter valued at $40,000. Truvestments Capital LLC bought a new position in Terex in the 3rd quarter worth approximately $41,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Terex by 74.6% in the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 504 shares during the period. 92.88% of the stock is owned by institutional investors.

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.