Short Interest in Terex Co. (NYSE:TEX) Rises By 19.4%

Terex Co. (NYSE:TEX) was the target of a significant growth in short interest in August. As of August 15th, there was short interest totalling 5,040,000 shares, a growth of 19.4% from the July 31st total of 4,220,000 shares. Approximately 7.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 974,000 shares, the days-to-cover ratio is presently 5.2 days.

Insider Activity

In related news, Director Andra Rush bought 2,205 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $54.36 per share, for a total transaction of $119,863.80. Following the completion of the transaction, the director now directly owns 21,983 shares in the company, valued at $1,194,995.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TEX. Blue Trust Inc. grew its holdings in shares of Terex by 57.5% during the second quarter. Blue Trust Inc. now owns 512 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 187 shares during the last quarter. FinTrust Capital Advisors LLC lifted its stake in Terex by 202.2% in the first quarter. FinTrust Capital Advisors LLC now owns 695 shares of the industrial products company’s stock valued at $45,000 after buying an additional 465 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new position in shares of Terex in the 4th quarter valued at $61,000. Principal Securities Inc. purchased a new stake in Terex in the 4th quarter valued at $85,000. Finally, International Assets Investment Management LLC acquired a new stake in Terex during the 2nd quarter worth $109,000. 92.88% of the stock is owned by hedge funds and other institutional investors.

Terex Stock Up 0.9 %

Shares of TEX stock traded up $0.48 during trading hours on Friday, reaching $56.77. 491,484 shares of the stock were exchanged, compared to its average volume of 712,109. The business’s fifty day moving average is $56.33 and its two-hundred day moving average is $58.18. The firm has a market capitalization of $3.80 billion, a P/E ratio of 7.52, a P/E/G ratio of 3.85 and a beta of 1.57. Terex has a 12-month low of $43.70 and a 12-month high of $68.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.21 and a quick ratio of 1.07.

Terex (NYSE:TEX) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.10. Terex had a return on equity of 27.89% and a net margin of 9.55%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the firm earned $2.35 earnings per share. Terex’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, research analysts expect that Terex will post 7.22 EPS for the current fiscal year.

Terex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 9th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, August 9th. This represents a $0.68 annualized dividend and a dividend yield of 1.20%. Terex’s dividend payout ratio is presently 9.01%.

Analyst Ratings Changes

Several analysts recently issued reports on TEX shares. Jefferies Financial Group dropped their price objective on shares of Terex from $68.00 to $55.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. JPMorgan Chase & Co. lifted their price target on Terex from $59.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group upped their price objective on shares of Terex from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Truist Financial boosted their target price on shares of Terex from $68.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Citigroup started coverage on Terex in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $60.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Terex has an average rating of “Hold” and an average target price of $63.30.

Terex Company Profile

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.