Terex Corp (NYSE:TEX) VP CAO and Controller, Stephen Johnston, has sold a total of 3,239 shares of the company's common stock on May 21, 2024, as reported in recent filings. The shares were sold at a price of $62.0 each, totaling over $200,818.
The transaction appears to be part of Johnston's regular financial management strategy, as the sale reduced his direct holdings in the company to 14,606 shares following the transaction. While the reason behind the sale was not disclosed, such transactions are common among corporate executives and can be influenced by a variety of personal financial considerations.
Investors often monitor insider sales as they can provide insights into an executive's confidence in the company's future performance. However, it's important to note that insider transactions are subject to strict regulations and reporting requirements to ensure transparency and prevent improper use of material non-public information.
Terex Corp, headquartered in Norwalk, Connecticut, is known for its manufacturing of industrial trucks, tractors, trailers, and stackers. The company has a broad presence in the industrial equipment sector and is incorporated in Delaware.
As of the latest reports, Terex Corp's stock is publicly traded on the New York Stock Exchange, and interested parties can follow its performance under the ticker symbol NYSE:TEX. The company has not made any official statements regarding this recent insider transaction.
InvestingPro Insights
As Terex Corp (NYSE:TEX) continues to navigate the industrial equipment market, Stephen Johnston's recent sale of company shares may prompt investors to take a closer look at the company's financial health and future prospects. Here are some insights based on real-time data from InvestingPro and InvestingPro Tips:
Terex Corp is currently trading at a low P/E ratio of 8.09, which, when compared to its near-term earnings growth, suggests that the stock might be undervalued (InvestingPro Data). This is further supported by the company's PEG ratio for the last twelve months as of Q1 2024, which stands at a modest 0.18, indicating potential for growth relative to its earnings.
From a dividend perspective, Terex has shown a commitment to returning value to shareholders, having raised its dividend for three consecutive years and maintaining payments for 12 consecutive years (InvestingPro Tips). This stability is attractive to investors seeking steady income, especially in a volatile market where TEX's stock price movements have been quite volatile (InvestingPro Tips).
For those looking at longer-term performance, Terex has generated a strong return over the last three months, with a price total return of 17.39%, and an even more impressive six-month price total return of 25.8% (InvestingPro Data). These figures illustrate the company's resilience and the positive reception of its business strategies by the market.
Investors interested in further insights can find additional InvestingPro Tips on Terex Corp at https://www.investing.com/pro/TEX. There are currently 13 additional InvestingPro Tips available, which can be accessed with a yearly or biyearly Pro and Pro+ subscription. Use coupon code PRONEWS24 to get an additional 10% off.
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