In a recent move that has caught the attention of investors, Joshua Gross, President of Genie, a division of Terex Corp (NYSE:TEX), has sold a significant number of shares in the company. On March 19, 2024, Gross disposed of 4,945 shares at an average price of $59.13, resulting in a total transaction value of approximately $292,397. The shares were sold at varying prices ranging from $59.10 to $59.16, as detailed in the footnotes of the filing.
The transaction has adjusted Gross's holdings in the company to 21,457 shares following the sale, which includes shares received as dividends. This information was disclosed in a recent Form 4 filing with the Securities and Exchange Commission, which provides insights into the trading activities of the company's insiders.
Additionally, on March 20, Gross also engaged in a transaction involving 4 shares of Terex Corp stock, valued at $58.84 per share, for a total of $235. This transaction was related to the withholding of shares for the payment of tax liabilities associated with the vesting of previously granted restricted stock awards.
Investors often monitor insider transactions as they can provide valuable insights into the executives' perspective on the company's current valuation and future prospects. The recent sales by Gross represent a notable change in his investment position in Terex Corp, a company known for its manufacturing of industrial trucks, tractors, trailers, and stackers.
InvestingPro Insights
As market participants digest the news of insider transactions at Terex Corp (NYSE:TEX), it's crucial to consider the company's financial health and performance metrics to understand the broader context. According to real-time data from InvestingPro, Terex Corp boasts a market capitalization of $4.15 billion and is trading at a low P/E ratio of 8.08, which, when compared to its near-term earnings growth, suggests that the stock may be undervalued. This aligns with an InvestingPro Tip highlighting that the company is trading at a low earnings multiple.
Further enriching the analysis, Terex Corp has shown a solid revenue growth of 16.61% over the last twelve months as of Q4 2023, underpinning its operational success. Additionally, the company has a robust gross profit margin of 22.84%, indicating efficient cost management and a strong market position.
For investors seeking more comprehensive insights, there are additional InvestingPro Tips available that could shed light on the company's dividend reliability and analyst expectations. Terex Corp has raised its dividend for 3 consecutive years and has maintained dividend payments for 12 consecutive years, which may appeal to income-focused investors. Moreover, while 7 analysts have revised their earnings downwards for the upcoming period, it's important to note that the company is expected to remain profitable this year.
Interested investors can find more detailed analysis and tips by visiting InvestingPro and can also take advantage of an additional 10% off a yearly or biyearly Pro and Pro+ subscription by using the coupon code PRONEWS24.
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