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

Terex Co. (NYSE:TEX) announced a quarterly dividend on Tuesday, July 30th, RTT News reports. Shareholders of record on Friday, August 9th will be paid a dividend of 0.17 per share by the industrial products company on Thursday, September 19th. This represents a $0.68 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Friday, August 9th.

Terex has raised its dividend by an average of 74.7% per year over the last three years. Terex has a payout ratio of 9.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Terex to earn $7.00 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 9.7%.

Terex Stock Performance

Shares of TEX stock opened at $65.68 on Wednesday. The stock has a market cap of $4.42 billion, a PE ratio of 8.70 and a beta of 1.57. The business has a 50-day simple moving average of $57.14 and a 200-day simple moving average of $58.97. The company has a quick ratio of 1.06, a current ratio of 2.16 and a debt-to-equity ratio of 0.42. Terex has a 52-week low of $43.70 and a 52-week high of $68.08.

Terex (NYSE:TEX) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.10. Terex had a return on equity of 30.53% and a net margin of 9.87%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the previous year, the firm posted $2.35 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities analysts expect that Terex will post 7.09 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TEX shares. Truist Financial cut their price target on Terex from $73.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. Jefferies Financial Group cut their price objective on Terex from $68.00 to $55.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Robert W. Baird boosted their price objective on Terex from $58.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. boosted their price objective on Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Citigroup began coverage on Terex in a research note on Wednesday, June 26th. They set a “neutral” rating and a $60.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $64.33.

Insider Activity

In other news, CAO Stephen Johnston sold 3,239 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total value of $200,818.00. Following the completion of the sale, the chief accounting officer now directly owns 14,606 shares in the company, valued at $905,572. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Stephen Johnston sold 3,239 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $62.00, for a total value of $200,818.00. Following the completion of the sale, the chief accounting officer now directly owns 14,606 shares in the company, valued at $905,572. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Scott Posner sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $60.48, for a total value of $756,000.00. Following the completion of the transaction, the vice president now owns 58,224 shares in the company, valued at $3,521,387.52. The disclosure for this sale can be found here. Insiders sold 32,929 shares of company stock worth $1,958,307 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

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.