David A. Sachs, a director at Terex Corp (NYSE:TEX), recently increased his holdings in the company by purchasing 20,000 shares of common stock. The construction equipment manufacturer, currently valued at $3.2 billion, trades at an attractive P/E ratio of 7x and is considered undervalued according to InvestingPro analysis. The shares were acquired at an average price of $49.75, totaling approximately $995,000. This transaction, dated December 13, 2024, boosts Sachs' total direct and indirect ownership to 137,500 shares held by a family LLC and 281,954 shares directly owned. Additionally, Sachs' wife holds 8,300 shares, although he disclaims beneficial ownership of those shares. The purchase comes as Terex trades near its 52-week low, with the stock down 16% over the past year. Get comprehensive insider trading analysis and 10+ additional ProTips with InvestingPro.
In other recent news, Wabtec Corporation continues to show promise with its diverse international exposure and significant order backlog, as noted by KeyBanc Capital Markets. The firm maintains an Overweight rating on Wabtec, highlighting its strong competitive position and commitment to technological advancements. The company's potential to achieve low-teen earnings per share in the coming years has been distinguished as a key factor.
Moving on to Terex Corporation, recent developments include a net sales decrease of 6% year-over-year for the third quarter of 2024, amounting to $1.2 billion, and earnings per share (EPS) of $1.46. However, the company completed the acquisition of ESG, which is projected to contribute an additional $40 million in EBITDA in the fourth quarter. Analysts anticipate that the operational synergies from this acquisition will reach at least $25 million by the end of 2026. Terex also reported a robust backlog of $1.6 billion, with the AWP segment accounting for $1.2 billion.
In leadership changes, Terex appointed Jennifer Kong-Picarello as its new Senior Vice President and Chief Financial Officer, who brings over two decades of financial experience from Schneider Electric (EPA:SCHN), Honeywell (NASDAQ:HON), and Tyco. These are the recent developments that highlight the company's financial performance and strategic moves.
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