NORWALK, Conn.—Kieran Hegarty, President of Materials Processing at Terex Corp (NYSE:TEX), recently sold 18,000 shares of the company's common stock. The transaction, which took place on November 6, was executed at a price of $58.43 per share, totaling approximately $1,051,740.
Following this sale, Hegarty retains ownership of 182,493 shares, which includes shares received as a dividend. This transaction was disclosed in a filing with the Securities and Exchange Commission.
In other recent news, industrial machinery company Terex Corporation disclosed its third-quarter financial results for 2024. The company reported a year-over-year net sales decrease of 6%, amounting to $1.2 billion, and earnings per share (EPS) of $1.46. Despite these figures, Terex completed the acquisition of ESG, which is projected to contribute an additional $40 million in EBITDA in the fourth quarter.
Analysts noted that operational synergies from the ESG acquisition are expected to reach at least $25 million by the end of 2026. Terex maintains a strong backlog of $1.6 billion, with the AWP segment accounting for $1.2 billion. The full-year EPS is projected between $5.85 and $6.25, with EBITDA of $635 million to $670 million.
These are recent developments and despite market challenges, Terex remains cautiously optimistic about its long-term growth, supported by the ESG acquisition and a robust financial strategy. The company's financial performance and strategic moves continue to be a point of interest for investors and market watchers.
InvestingPro Insights
In light of Kieran Hegarty's recent stock sale, it's worth examining Terex Corp's current financial position and market performance. According to InvestingPro data, Terex has a market capitalization of $3.7 billion and is trading at a relatively low P/E ratio of 8.01. This valuation metric suggests that the stock may be undervalued compared to its earnings potential.
InvestingPro Tips highlight that Terex has maintained dividend payments for 12 consecutive years and has even raised its dividend for 4 consecutive years. This consistent dividend policy could be attractive to income-focused investors, especially considering the current dividend yield of 1.21%.
Despite the recent insider sale, Terex's stock has shown significant strength, with a 9.59% return over the last week and a 19.28% return over the past year. This positive momentum is noteworthy, particularly as InvestingPro Tips indicate that the stock price movements are quite volatile.
It's also important to note that Terex operates with a moderate level of debt and its liquid assets exceed short-term obligations, suggesting a solid financial foundation. With analysts predicting profitability for the company this year and a track record of profitability over the last twelve months, Terex appears to be in a stable financial position.
For investors seeking a more comprehensive analysis, InvestingPro offers 10 additional tips for Terex Corp, providing deeper insights into the company's financial health and market position.
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