Terex Corp. (NYSE: TEX) stock fell -2.53% on Monday to $50.08 against a previous-day closing price of $51.38. With 0.86 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.91 million shares. During the session, the Farm & Heavy Construction Machinery company that operates in wider Industrials sector, reached to the highest price of $51.12 whereas the lowest price it dropped to was $50.03. The 52-week range on TEX shows that it touched its highest point at $65.64 and its lowest point at $40.50 during that stretch. It currently has a 1-year price target of $60.00. With its current market cap of 3.37 billion, TEX has annualized dividend of $0.56 while the current yield stands at 1.11%. Beta for the stock currently stands at 1.68.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TEX was up-trending over the past week, with a rise of 2.50%, but this was up by 5.08% over a month. Three-month performance dropped to -10.32% while six-month performance rose 3.11%. The stock gained 13.25% in the past year, while it has gained 17.23% so far this year. A look at the trailing 12-month EPS for TEX yields 7.03 with Next year EPS estimates of 7.18. For the next quarter, that number is 1.39. This implies an EPS growth rate of 63.97% for this year and 1.31% for next year. EPS is expected to grow by 13.40% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 46.91%.
Float and Shares Shorts:
At present, 66.80 million TEX shares are outstanding with a float of 65.56 million shares on hand for trading. On Oct 30, 2023, short shares totaled 2.65 million, which was 3.94% higher than short shares on Sep 28, 2023. In addition to Mr. John L. Garrison Jr. as the firm’s Chairman, President & CEO, Ms. Julie A. Beck CPA serves as its Senior VP & CFO.
Institutional Ownership:
Through their ownership of 96.85% of TEX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.94% of TEX, in contrast to 39.43% held by mutual funds. Shares owned by individuals account for 17.72%. As the largest shareholder in TEX with 11.35% of the stake, BlackRock Fund Advisors holds 7,637,588 shares worth 7,637,588. A second-largest stockholder of TEX, The Vanguard Group, Inc., holds 7,446,919 shares, controlling over 11.07% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in TEX, holding 2,669,925 shares or 3.97% stake. With a 3.09% stake in TEX, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 2,081,445 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.99% of TEX stock, is the second-largest Mutual Fund holder. It holds 2,009,987 shares valued at 92.06 million. Vanguard Small Cap Index Fund holds 2.45% of the stake in TEX, owning 1,651,536 shares worth 75.64 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TEX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TEX analysts setting a high price target of $73.00 and a low target of $50.00, the average target price over the next 12 months is $60.00. Based on these targets, TEX could surge 45.77% to reach the target high and fall by -0.16% to reach the target low. Reaching the average price target will result in a growth of 19.81% from current levels.
Summary of Insider Activity:
Insiders traded TEX stock several times over the past three months with 5 Buys and 1 Sells. In these transactions, 12,702 shares were bought while 500 shares were sold. The number of buy transactions has increased to 37 while that of sell transactions has risen to 57 over the past year. The total number of shares bought during that period was 319,479 while 836,773 shares were sold.
