Terex (TEX) Declares $0.15 Dividend

Terex said on February 9, 2023 that its board of directors declared a regular quarterly dividend of $0.15 per share ($0.60 annualized). Shareholders of record as of March 8, 2023 will receive the payment on March 20, 2023. Previously, the company paid $0.13 per share.

At the current share price of $51.47 / share, the stock's dividend yield is 1.17%. Looking back five years and taking a sample every week, the average dividend yield has been 1.35%, the lowest has been 0.87%, and the highest has been 3.85%. The standard deviation of yields is 0.47 (n=198).

The current dividend yield is 0.40 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.12. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.18%, demonstrating that it has increased its dividend over time.

Analyst Price Forecast Suggests 0.80% Upside

As of February 10, 2023, the average one-year price target for Terex is $51.88. The forecasts range from a low of $38.38 to a high of $67.20. The average price target represents an increase of 0.80% from its latest reported closing price of $51.47.

The projected annual revenue for Terex is $4,535MM, an increase of 2.66%. The projected annual EPS is $4.80, an increase of 9.54%.

What is the Fund Sentiment?

There are 678 funds or institutions reporting positions in Terex. This is a decrease of 5 owner(s) or 0.73% in the last quarter. Average portfolio weight of all funds dedicated to TEX is 0.16%, an increase of 18.27%. Total shares owned by institutions decreased in the last three months by 0.74% to 71,010K shares. The put/call ratio of TEX is 0.88, indicating a bullish outlook.

What are large shareholders doing?

Pzena Investment Management holds 4,105K shares representing 6.08% ownership of the company. In it's prior filing, the firm reported owning 4,336K shares, representing a decrease of 5.63%. The firm increased its portfolio allocation in TEX by 20.61% over the last quarter.

Fuller & Thaler Asset Management holds 2,588K shares representing 3.83% ownership of the company. In it's prior filing, the firm reported owning 2,540K shares, representing an increase of 1.83%. The firm increased its portfolio allocation in TEX by 15.75% over the last quarter.

Fisher Asset Management holds 2,255K shares representing 3.34% ownership of the company. In it's prior filing, the firm reported owning 2,281K shares, representing a decrease of 1.15%. The firm increased its portfolio allocation in TEX by 28.07% over the last quarter.

UBVLX - Undiscovered Managers Behavioral Value Fund Class L holds 2,105K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 2,055K shares, representing an increase of 2.35%. The firm increased its portfolio allocation in TEX by 16.96% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 1,992K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 1,979K shares, representing an increase of 0.65%. The firm increased its portfolio allocation in TEX by 9.92% over the last quarter.

Terex Background Information
(This description is provided by the company.)

Terex is a global manufacturer of aerial work platforms and materials processing machinery. The Company designs, builds, and supports products used in construction, maintenance, manufacturing, energy, minerals and materials management applications. Terex's products are manufactured in North and South America, Europe, Australia, and Asia and sold worldwide. The Company engages with customers through all stages of the product life cycle, from initial specification and financing to parts and service support.

This story originally appeared on Fintel.