Eric I. Cohen Sells 10,000 Shares of Terex Co. (TEX) Stock
Terex Co. (NYSE:TEX) VP Eric I. Cohen sold 10,000 shares of the firm’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $39.01, for a total value of $390,100.00. Following the completion of the sale, the vice president now directly owns 182,905 shares in the company, valued at approximately $7,135,124.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Eric I. Cohen also recently made the following trade(s):
- On Friday, June 22nd, Eric I. Cohen sold 12,502 shares of Terex stock. The shares were sold at an average price of $40.40, for a total value of $505,080.80.
Shares of TEX opened at $39.61 on Tuesday. Terex Co. has a 52 week low of $35.30 and a 52 week high of $50.17. The firm has a market capitalization of $2.83 billion, a PE ratio of 29.34, a PEG ratio of 0.57 and a beta of 1.57. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.11 and a quick ratio of 1.19.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 19th. Investors of record on Thursday, August 9th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.01%. The ex-dividend date is Wednesday, August 8th. Terex’s dividend payout ratio is currently 29.63%.
Terex declared that its Board of Directors has initiated a stock buyback program on Thursday, July 12th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the industrial products company to repurchase up to 8.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
A number of brokerages have recently commented on TEX. Seaport Global Securities set a $49.00 price target on Terex and gave the company a “buy” rating in a research note on Friday, July 13th. Zacks Investment Research upgraded Terex from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Tuesday, July 17th. Jefferies Financial Group upgraded Terex from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Robert W. Baird cut Terex from a “neutral” rating to an “underperform” rating and set a $38.00 price target for the company. in a research note on Tuesday, July 10th. Finally, ValuEngine upgraded Terex from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $45.50.
A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in Terex by 21.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,449,090 shares of the industrial products company’s stock worth $61,137,000 after purchasing an additional 257,666 shares during the last quarter. Verition Fund Management LLC bought a new position in Terex during the 2nd quarter worth $442,000. NorthCoast Asset Management LLC bought a new position in Terex during the 2nd quarter worth $642,000. California Public Employees Retirement System raised its position in Terex by 9.0% during the 2nd quarter. California Public Employees Retirement System now owns 272,706 shares of the industrial products company’s stock worth $11,505,000 after purchasing an additional 22,527 shares during the last quarter. Finally, Baldwin Investment Management LLC bought a new position in Terex during the 2nd quarter worth $764,000. 98.73% of the stock is owned by institutional investors and hedge funds.
Terex Corporation manufactures and sells aerial work platforms, cranes, and materials processing machinery worldwide. The company operates through three segments: Aerial Work Platforms (AWP), Cranes, and Material Processing (MP). The AWP segment engages in the design, manufacture, service, and market of AWP equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brands to construct and maintain industrial, commercial, and residential buildings and facilities, and for other commercial operations, as well as used in infrastructure projects.
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