David A. Sachs, a director at Terex Corp (NYSE:TEX), has recently made significant stock purchases, according to a recent SEC filing. On December 11 and 12, Sachs acquired a total of 20,000 shares of Terex common stock, with purchase prices ranging from $50.16 to $51.30 per share. The transactions, conducted through a family LLC, amounted to a total value of approximately $1,014,600. The purchases come as Terex, with a market capitalization of $3.31 billion, trades near its 52-week low and at an attractive P/E ratio of 7.2. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value metrics.
Following these acquisitions, Sachs holds 117,500 shares indirectly. Additionally, he maintains direct ownership of 281,954 shares. Another 8,300 shares are held indirectly by his wife, though Sachs disclaims beneficial ownership of these. InvestingPro data reveals Terex maintains strong financial health with liquid assets exceeding short-term obligations. Get access to 8 more exclusive ProTips and comprehensive analysis in the Pro Research Report.
In other recent news, Wabtec Corporation holds a strong competitive position and is expected to lead in technological advancements, particularly in the production of efficient, lower-emission freight locomotives. Analysts from KeyBanc Capital Markets maintain an Overweight rating for the company, predicting mid-single to high-single digit organic growth, potentially enhanced by mergers and acquisitions.
Meanwhile, Terex Corporation reported a year-over-year net sales decrease of 6% for the third quarter of 2024, amounting to $1.2 billion, and earnings per share (EPS) of $1.46. Despite this, the company completed the acquisition of ESG, projected to contribute an additional $40 million in EBITDA in the fourth quarter. Analysts anticipate operational synergies from this acquisition will reach at least $25 million by the end of 2026.
In leadership changes, Terex appointed Jennifer Kong-Picarello as its new Senior Vice President and Chief Financial Officer. Kong-Picarello brings over two decades of financial experience from Schneider Electric (EPA:SCHN), Honeywell (NASDAQ:HON), and Tyco. These are the recent developments in both companies.
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