Terex Co. (NYSE:TEX) Declares $0.17 Quarterly Dividend

Terex Co. (NYSE:TEX) declared a quarterly dividend on Thursday, February 6th,RTT News reports. Stockholders of record on Friday, March 7th will be given a dividend of 0.17 per share by the industrial products company on Wednesday, March 19th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.46%.

Terex has raised its dividend payment by an average of 12.3% annually over the last three years. Terex has a payout ratio of 11.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Terex to earn $5.23 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 13.0%.

Terex Stock Performance

Shares of NYSE TEX opened at $46.61 on Friday. Terex has a 12 month low of $43.50 and a 12 month high of $68.08. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.11 billion, a P/E ratio of 6.80, a P/E/G ratio of 4.51 and a beta of 1.54. The business’s 50 day moving average is $47.90 and its two-hundred day moving average is $52.25.

Terex (NYSE:TEX) last released its earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.76 by $0.01. Terex had a net margin of 9.08% and a return on equity of 24.92%. During the same quarter in the previous year, the company posted $1.88 earnings per share. On average, equities analysts expect that Terex will post 6.09 EPS for the current year.

Insider Activity

In other Terex news, 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 approximately $6,538,658.12. This represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David A. Sachs acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average cost of $51.30 per share, with a total value of $513,000.00. Following the acquisition, the director now owns 107,500 shares of the company’s stock, valued at approximately $5,514,750. This represents a 10.26 % increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TEX has been the topic of several research reports. Citigroup lowered their price target on Terex from $57.00 to $48.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. cut their target price on Terex from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Robert W. Baird decreased their price target on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Truist Financial dropped their price objective on shares of Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.63.

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.