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

Terex Co. (NYSE:TEX) announced 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 annualized dividend and a dividend yield of 1.46%.

Terex has raised its dividend by an average of 12.3% per year over the last three years. Terex has a payout ratio of 11.3% indicating that 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 Down 2.9 %

Shares of Terex stock opened at $46.61 on Friday. The company has a quick ratio of 1.16, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. Terex has a 12-month low of $43.50 and a 12-month high of $68.08. The firm has a market capitalization of $3.11 billion, a PE ratio of 6.80, a price-to-earnings-growth ratio of 4.51 and a beta of 1.54. The stock’s fifty day moving average is $47.90 and its 200-day moving average is $52.25.

Terex (NYSE:TEX) last posted its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $1.88 earnings per share. Equities analysts anticipate that Terex will post 6.09 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Activity at Terex

In related news, CEO Simon Meester sold 9,877 shares of the company’s 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 in the company, 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 document filed with the SEC, which is accessible through this link. Also, Director David A. Sachs bought 10,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were bought at an average price of $51.30 per share, for a total transaction of $513,000.00. Following the completion of 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 ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by company insiders.

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.