Terex Corp (NYSE:TEX) Senior Vice President, General Counsel, and Secretary, Scott Posner, has sold a total of 12,500 shares of company stock on May 24, 2024, at an average price of $60.48, resulting in a transaction value of $756,000. The shares were sold at prices ranging from $60.44 to $60.60, as reported in the latest filings with the Securities and Exchange Commission.
This sale has reduced Posner's holdings to 58,224 shares of Terex Corp's common stock, demonstrating a significant change in his position within the company. Investors often monitor insider sales as they may provide insights into executives' perspectives on the company's current valuation and future prospects.
It is worth noting, however, that alongside the sale, a separate transaction categorized as a gift was recorded where 1,000 shares were transferred, but no monetary value was associated with this transfer. Following this gifting transaction, Posner's remaining ownership in Terex Corp was adjusted to 57,224 shares.
Investors and stakeholders in Terex Corp can request detailed information about the exact prices at which the shares were sold from Mr. Posner, should they require it for their analysis or records.
Terex Corp, headquartered in Norwalk, Connecticut, is a global manufacturer of lifting and material handling solutions for a variety of industries, including construction, infrastructure, and quarrying. The movement in insider ownership comes at a time when the company continues to navigate the dynamic and competitive landscape of the industrial sector.
InvestingPro Insights
In light of recent insider transactions at Terex Corp (NYSE:TEX), it's beneficial for investors to consider the company's financial health and market performance. According to InvestingPro data, Terex Corp has a market capitalization of $4.04 billion and is trading at a P/E ratio of 7.89, reflecting a valuation that may be attractive to value investors, particularly given the company's low P/E ratio relative to near-term earnings growth. The company's PEG ratio stands at 0.18, suggesting that its stock price may be undervalued in relation to its earnings growth potential.
Terex Corp has also demonstrated a solid track record of dividend payments, having maintained these for 12 consecutive years, with a recent dividend yield of 1.12%. This, along with a dividend growth of 13.33% over the last twelve months as of Q1 2024, may be of particular interest to income-focused investors. Moreover, the company's stock has experienced a large price uptick, with a six-month total return of 25.21%, which could signal strong market confidence in its operations and future outlook.
For those looking to delve deeper into Terex Corp's financials and stock performance, there are additional InvestingPro Tips available, including insights on the company's debt levels, profitability, and analyst predictions. As an added benefit, readers can access these tips and more with a special offer: use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/TEX. With 11 more InvestingPro Tips listed in InvestingPro, investors can gain a comprehensive understanding of Terex Corp's investment potential.
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