Terex Co. (NYSE:TEX) announced a quarterly dividend on Friday, October 12th, RTT News reports. Investors of record on Friday, November 9th will be paid a dividend of 0.10 per share by the industrial products company on Wednesday, December 19th. This represents a $0.40 annualized dividend and a dividend yield of 1.10%.

Terex has raised its dividend by an average of 17.0% per year over the last three years and has raised its dividend every year for the last 4 years. Terex has a payout ratio of 13.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Terex to earn $3.75 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 10.7%.

Shares of NYSE:TEX opened at $36.29 on Friday. The stock has a market cap of $2.94 billion, a P/E ratio of 26.88, a P/E/G ratio of 0.59 and a beta of 1.52. The company has a current ratio of 2.11, a quick ratio of 1.19 and a debt-to-equity ratio of 1.15. Terex has a one year low of $35.30 and a one year high of $50.17.

Terex (NYSE:TEX) last announced its earnings results on Tuesday, July 31st. The industrial products company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.90 by $0.08. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.40 billion. Terex had a return on equity of 16.66% and a net margin of 2.91%. On average, equities analysts forecast that Terex will post 2.9 earnings per share for the current year.

In other Terex news, insider Kevin A. Barr sold 11,937 shares of Terex stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $38.43, for a total transaction of $458,738.91. Following the sale, the insider now directly owns 101,980 shares in the company, valued at approximately $3,919,091.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kevin A. Barr sold 10,000 shares of Terex stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $39.65, for a total value of $396,500.00. Following the sale, the insider now owns 113,908 shares in the company, valued at $4,516,452.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 1,344 shares of company stock worth $52,633 and have sold 38,866 shares worth $1,514,531. 3.50% of the stock is owned by insiders.

Several equities research analysts recently commented on the company. Zacks Investment Research downgraded Terex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Seaport Global Securities set a $49.00 target price on Terex and gave the company a “buy” rating in a report on Friday, July 13th. ValuEngine downgraded Terex from a “buy” rating to a “hold” rating in a report on Monday, July 30th. UBS Group set a $52.00 target price on Terex and gave the company a “buy” rating in a report on Wednesday, August 22nd. Finally, Bank of America raised their target price on Terex from $36.00 to $40.00 and gave the company an “underperform” rating in a report on Wednesday, August 1st. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Terex has an average rating of “Hold” and an average price target of $45.50.

Terex announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 12th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 8.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

About Terex

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.

Read More: Return on Equity (ROE)

Dividend History for Terex (NYSE:TEX)

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