Terex Corporation (NYSE:TEX) Declares $0.17 Quarterly Dividend

Terex Corporation (NYSE:TEX - Get Free Report) declared a quarterly dividend on Thursday, July 17th, RTT News reports. Stockholders of record on Monday, August 11th will be given a dividend of 0.17 per share by the industrial products company on Friday, September 19th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Monday, August 11th.

Terex has a dividend payout ratio of 12.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Terex to earn $5.78 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 11.8%.

Terex Stock Down 2.0%

Shares of NYSE TEX traded down $0.99 during midday trading on Monday, hitting $48.37. 884,143 shares of the company's stock were exchanged, compared to its average volume of 914,462. The company has a market cap of $3.21 billion, a PE ratio of 9.46, a P/E/G ratio of 5.16 and a beta of 1.58. Terex has a twelve month low of $31.53 and a twelve month high of $68.08. The firm's fifty day simple moving average is $47.46 and its 200-day simple moving average is $43.39. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.11 and a quick ratio of 1.07.

Terex (NYSE:TEX - Get Free Report) last posted its earnings results on Friday, May 2nd. The industrial products company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.26. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.26 billion. Terex had a return on equity of 18.79% and a net margin of 4.89%. Terex's quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.60 earnings per share. Research analysts predict that Terex will post 4.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TEX has been the subject of several recent analyst reports. UBS Group raised their target price on Terex from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Baird R W raised shares of Terex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Citigroup dropped their target price on shares of Terex from $45.00 to $36.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Evercore ISI lifted their price objective on shares of Terex from $59.00 to $62.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Finally, Morgan Stanley lowered their target price on shares of Terex from $43.00 to $30.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $51.44.

Insiders Place Their Bets

In other Terex news, insider Joshua Gross sold 5,389 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $40.75, for a total value of $219,601.75. Following the sale, the insider owned 38,755 shares in the company, valued at approximately $1,579,266.25. This represents a 12.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC increased its stake in shares of Terex by 1,086.3% in the 1st quarter. Millennium Management LLC now owns 256,054 shares of the industrial products company's stock worth $9,674,000 after acquiring an additional 234,470 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Terex by 3.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,092,189 shares of the industrial products company's stock worth $41,263,000 after buying an additional 40,077 shares in the last quarter. Intech Investment Management LLC boosted its holdings in Terex by 47.4% in the first quarter. Intech Investment Management LLC now owns 45,501 shares of the industrial products company's stock valued at $1,719,000 after purchasing an additional 14,629 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Terex by 427.2% in the first quarter. Jones Financial Companies Lllp now owns 3,506 shares of the industrial products company's stock valued at $132,000 after buying an additional 2,841 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Terex by 0.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 195,210 shares of the industrial products company's stock worth $7,375,000 after purchasing an additional 1,597 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company's stock.

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.