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

Terex Co. (NYSE:TEX - Get Free Report) declared a quarterly dividend on Thursday, February 6th,RTT News reports. Investors of record on Friday, March 7th will be paid a dividend of 0.17 per share by the industrial products company on Wednesday, March 19th. This represents a $0.68 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Friday, March 7th.

Terex has raised its dividend payment by an average of 12.3% annually over the last three years. Terex has a dividend payout ratio of 11.5% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Down 0.6 %

Shares of NYSE TEX traded down $0.26 during mid-day trading on Monday, hitting $44.49. The company had a trading volume of 1,341,310 shares, compared to its average volume of 807,354. Terex has a one year low of $43.23 and a one year high of $68.08. The company has a market capitalization of $2.97 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 4.53 and a beta of 1.54. The company has a current ratio of 2.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.41. The firm has a 50-day simple moving average of $47.48 and a two-hundred day simple moving average of $51.80.

Terex (NYSE:TEX - Get Free Report) last released its earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same period in the previous year, the firm earned $1.88 earnings per share. On average, equities analysts expect that Terex will post 5.03 EPS for the current year.

Insider Activity

In other news, Director David A. Sachs purchased 20,000 shares of the company's stock in a transaction dated Friday, December 13th. The shares were purchased at an average price of $49.75 per share, for a total transaction of $995,000.00. Following the transaction, the director now owns 137,500 shares of the company's stock, valued at approximately $6,840,625. This trade represents a 17.02 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Simon Meester sold 9,877 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total value of $505,109.78. Following the sale, the chief executive officer now owns 127,858 shares of the company's stock, valued at approximately $6,538,658.12. The trade was a 7.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Barclays cut their price target on Terex from $60.00 to $52.00 and set an "equal weight" rating for the company in a report on Monday. StockNews.com downgraded shares of Terex from a "hold" rating to a "sell" rating in a research report on Friday. Robert W. Baird reduced their price target on Terex from $65.00 to $55.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. Truist Financial lowered their price objective on Terex from $65.00 to $58.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Finally, Citigroup cut their price objective on shares of Terex from $57.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $56.11.

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.