Insider Buying: Terex Co. (NYSE:TEX) Director Buys 20,000 Shares of Stock

On December 13th, David A. Sachs, a Director at Terex Co. (NYSE:TEX - Get Free Report), made a notable investment by purchasing 20,000 shares of the company's stock. These shares were bought at an average price of $49.75 each, amounting to a total investment of $995,000. Following this acquisition, Sachs now holds 137,500 shares in Terex, which are valued at approximately $6,840,625. This investment reflects a 17.02% increase in his shareholding position. The details of this transaction were disclosed in a legal filing with the SEC.

Current Stock Performance

As of Tuesday, Terex's stock was trading at $47.88, down 0.5% with a decline of $0.26 during mid-day trading. About 54,054 shares changed hands, which is significantly lower than its average trading volume of 800,717. Over the past year, Terex has seen a low of $47.88 and a high of $68.08. The company maintains a quick ratio of 1.16, a current ratio of 2.39, and a debt-to-equity ratio of 0.32. Terex's market capitalization stands at $3.20 billion, with a PE ratio of 7.03 and a price-to-earnings growth ratio of 4.00. Its 50-day moving average is $53.53, while the 200-day moving average is $54.49.

Quarterly Earnings Announcement

Terex reported its quarterly earnings on October 30th, revealing earnings of $1.46 per share, surpassing analysts' expectations of $1.31 by $0.15. The company's net margin was recorded at 9.08%, and it achieved a return on equity of 24.92%. The revenue for the quarter was $1.21 billion, beating projections of $1.16 billion. However, this marked a 6.0% decrease in revenue compared to the same quarter in the previous year. Analysts anticipate a projected EPS of 6.07 for Terex in the current year.

Recent Dividend Declaration

Terex has also announced a quarterly dividend of $0.17 per share. This dividend will be paid on December 19th to investors who were on record by November 8th. The ex-dividend date was also set for November 8th. This results in an annualized dividend of $0.68, translating into a yield of 1.42%. Furthermore, the company's dividend payout ratio is currently 9.93%.

Analyst Forecasts and Ratings

Several analysts have provided insights on Terex's stock recently. Citigroup lowered its price target from $60.00 to $57.00, maintaining a "neutral" rating. Truist Financial raised its target from $62.00 to $65.00, offering a "buy" recommendation. Conversely, Goldman Sachs adjusted the target from $72.00 to $62.00, keeping a "neutral" rating. Robert W. Baird also reduced its target from $65.00 to $55.00, holding a "neutral" stance. JPMorgan Chase cut its price objective from $65.00 to $62.00, also setting a "neutral" rating. Currently, one analyst rates Terex as a sell, while seven have it as a hold, and two as a buy. The stock holds an average rating of "Hold" and an average price target of $59.56.

Institutional Investor Activity

Recent activity from hedge funds and institutional investors shows a mix of buying and selling within Terex shares. Chartwell Investment Partners LLC entered a new position in Terex worth approximately $559,000 during the third quarter. Edgestream Partners L.P. boosted its stake by 181.6% in the second quarter, now holding 68,898 shares valued at $3,778,000. GSA Capital Partners LLP and AQR Capital Management LLC also adjusted their positions, with AQR increasing its holdings by 18.4%. Institutional investors currently hold 92.88% of Terex's stock.

Company Overview

Terex Corporation is involved in manufacturing and selling aerial work platforms and materials processing machinery globally. The company operates in two main segments: Materials Processing and Aerial Work Platforms. The Materials Processing segment designs and manufactures various equipment types, including crushers and washing systems.

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