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

Terex Corporation (NYSE:TEX - Get Free Report) declared a quarterly dividend on Thursday, July 17th, RTT News reports. Shareholders of record on Monday, August 11th will be paid 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 1.34%.

Terex has a payout ratio of 12.2% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of Terex stock traded up $0.90 during mid-day trading on Thursday, reaching $50.58. 840,421 shares of the stock traded hands, compared to its average volume of 916,620. The business has a 50-day moving average of $47.29 and a 200 day moving average of $43.39. Terex has a fifty-two week low of $31.53 and a fifty-two week high of $68.08. The stock has a market capitalization of $3.35 billion, a PE ratio of 13.78, a PEG ratio of 5.17 and a beta of 1.58. The company has a quick ratio of 1.07, a current ratio of 2.11 and a debt-to-equity ratio of 1.40.

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

Insider Buying and Selling

In other news, insider Joshua Gross sold 5,389 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $40.75, for a total transaction of $219,601.75. Following the completion of the transaction, the insider owned 38,755 shares of the company's stock, valued at approximately $1,579,266.25. The trade was a 12.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Terex

Several large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its stake in shares of Terex by 3.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,092,189 shares of the industrial products company's stock valued at $41,263,000 after purchasing an additional 40,077 shares during the last quarter. Millennium Management LLC lifted 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 valued at $9,674,000 after purchasing an additional 234,470 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Terex by 0.8% in 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 buying an additional 1,597 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Terex by 47.4% in the first quarter. Intech Investment Management LLC now owns 45,501 shares of the industrial products company's stock worth $1,719,000 after buying an additional 14,629 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Terex by 427.2% in the first quarter. Jones Financial Companies Lllp now owns 3,506 shares of the industrial products company's stock worth $132,000 after buying an additional 2,841 shares during the last quarter. 92.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TEX shares. UBS Group upped their price objective on shares of Terex from $48.00 to $52.00 and gave the stock a "neutral" rating in a report on Thursday, July 10th. Citigroup dropped their price objective on shares of Terex from $45.00 to $36.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. raised their price target on shares of Terex from $43.00 to $50.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. Robert W. Baird raised shares of Terex from a "neutral" rating to an "outperform" rating and raised their price target for the company from $48.00 to $66.00 in a research report on Tuesday, May 13th. Finally, Baird R W upgraded shares of Terex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $51.44.

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.

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