Terex (NYSE:TEX) Reaches New 12-Month Low Following Insider Selling

Terex Co. (NYSE:TEX) shares reached a new 52-week low on Monday following insider selling activity. The company 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 Terex stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total value of $505,109.78. Following the completion of the sale, the chief executive officer now directly owns 127,858 shares of the company’s stock, valued at approximately $6,538,658.12. The trade was a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TEX. Robert W. Baird reduced their target price on Terex from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. The Goldman Sachs Group reduced their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Evercore ISI lowered their target price on Terex from $67.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, August 19th. Citigroup reduced their price target on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. Finally, Truist Financial upped their price objective on shares of Terex from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, November 4th. One 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $59.56.

Terex Stock Performance

The company’s 50 day moving average price is $53.53 and its 200-day moving average price is $54.49. The stock has a market cap of $3.22 billion, a P/E ratio of 7.03, a price-to-earnings-growth ratio of 4.00 and a beta of 1.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39.

Terex (NYSE:TEX) last issued its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. Terex had a net margin of 9.08% and a return on equity of 24.92%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm posted $1.75 EPS. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. Equities analysts forecast that Terex Co. will post 6.07 EPS for the current fiscal year.

Terex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 8th will be given a $0.17 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.68 annualized dividend and a yield of 1.41%. Terex’s dividend payout ratio is currently 9.93%.

Institutional Investors Weigh In On Terex

Large investors have recently made changes to their positions in the business. Blue Trust Inc. grew its position in shares of Terex by 57.5% during the 2nd quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock valued at $28,000 after acquiring 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 shares of Terex during the 3rd quarter worth $41,000. Finally, Farther Finance Advisors LLC increased its holdings in Terex by 74.6% in the 3rd 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 last quarter. 92.88% of the stock is owned by hedge funds and other 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.