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

Terex Co. (NYSE:TEX) announced a quarterly dividend on Thursday, February 6th,RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Friday, March 7th.

Terex has increased its dividend by an average of 12.3% per year over the last three years. Terex has a payout ratio of 11.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Terex to earn $6.08 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 11.2%.

Terex Price Performance

Shares of TEX opened at $44.66 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.16. The stock has a market cap of $2.98 billion, a PE ratio of 9.00, a P/E/G ratio of 4.53 and a beta of 1.54. The firm has a 50-day simple moving average of $47.69 and a two-hundred day simple moving average of $52.12. Terex has a 1-year low of $43.50 and a 1-year high of $68.08.

Terex (NYSE:TEX) last announced its earnings results 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 return on equity of 21.99% and a net margin of 6.54%. During the same quarter in the previous year, the business posted $1.88 earnings per share. As a group, analysts forecast that Terex will post 5.03 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on TEX shares. Truist Financial lowered their price objective on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. decreased their price objective on shares of Terex from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Citigroup dropped their price objective on Terex from $57.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. StockNews.com downgraded Terex from a “hold” rating to a “sell” rating in a report on Friday. Finally, Robert W. Baird lowered their price objective on shares of Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Terex presently has an average rating of “Hold” and a consensus target price of $56.63.

Insider Activity

In other news, CEO Simon Meester sold 9,877 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total value of $505,109.78. Following the completion of the transaction, the chief executive officer now owns 127,858 shares in the company, valued at $6,538,658.12. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David A. Sachs acquired 20,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of $49.75 per share, for a total transaction of $995,000.00. Following the completion of the transaction, the director now directly owns 137,500 shares in the company, valued at approximately $6,840,625. This represents a 17.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.