Time to Reconsider Terex Corporation (NYSE:TEX) After Less Short Sellers?

April 16, 2018 - By Peter Erickson

Terex Corporation (NYSE:TEX) Logo

Investors sentiment increased to 0.91 in 2017 Q4. Its up 0.28, from 0.63 in 2017Q3. It improved, as 27 investors sold Terex Corporation shares while 102 reduced holdings. 56 funds opened positions while 61 raised stakes. 76.03 million shares or 4.26% less from 79.42 million shares in 2017Q3 were reported.
Northern Trust holds 0.01% or 646,529 shares. Manufacturers Life Ins The invested in 0.01% or 132,538 shares. Federated Inc Pa stated it has 0.01% in Terex Corporation (NYSE:TEX). Utd Service Automobile Association stated it has 167,502 shares. Systematic Mgmt Limited Partnership owns 1.18M shares or 1.14% of their US portfolio. Riverhead Cap Management stated it has 16,958 shares. Campbell Com Inv Adviser Limited Liability Corp holds 0.26% of its portfolio in Terex Corporation (NYSE:TEX) for 7,253 shares. Caprock owns 0.04% invested in Terex Corporation (NYSE:TEX) for 4,628 shares. State Street Corp has invested 0.01% in Terex Corporation (NYSE:TEX). Parametric Port Associates Limited accumulated 0.01% or 262,180 shares. Gotham Asset Ltd accumulated 39,977 shares or 0.03% of the stock. 787,441 were accumulated by Minneapolis Port Group Incorporated Ltd Liability. Moreover, Adage Capital Prtnrs Group Incorporated Ltd Llc has 0.02% invested in Terex Corporation (NYSE:TEX). Price Cap Mgmt, a Louisiana-based fund reported 67,480 shares. Price T Rowe Assocs Md has invested 0% in Terex Corporation (NYSE:TEX).

Since January 5, 2018, it had 10 insider buys, and 4 sales for $2.67 million activity. 8,984 Terex Corporation (NYSE:TEX) shares with value of $388,828 were sold by FILIPOV STEVE. On Friday, February 9 BARR KEVIN A bought $212 worth of Terex Corporation (NYSE:TEX) or 5 shares. Another trade for 59 shares valued at $2,310 was bought by HENRY BRIAN J. 10,250 Terex Corporation (NYSE:TEX) shares with value of $376,602 were bought by SACHS DAVID A. 513 shares were bought by SHEEHAN JOHN D, worth $18,735. 10,121 shares were sold by COHEN ERIC I, worth $505,038.

The stock of Terex Corporation (NYSE:TEX) registered a decrease of 7.87% in short interest. TEX’s total short interest was 8.07M shares in April as published by FINRA. Its down 7.87% from 8.76M shares, reported previously. With 972,900 shares average volume, it will take short sellers 8 days to cover their TEX’s short positions. The short interest to Terex Corporation’s float is 10.21%.

The stock increased 1.24% or $0.48 during the last trading session, reaching $39.1. About 723,240 shares traded. Terex Corporation (NYSE:TEX) has risen 24.79% since April 16, 2017 and is uptrending. It has outperformed by 13.24% the S&P500.

Terex Corporation manufactures and sells lifting and material processing products worldwide. The company has market cap of $3.01 billion. The firm operates through three divisions: Aerial Work Platforms , Cranes, and Materials Processing (MP). It has a 28.88 P/E ratio. The AWP segment designs, makes, services, and markets aerial work platform equipment, telehandlers, and light towers, as well as related components and replacement parts under the Terex and Genie brand names.

Terex Corporation (NYSE:TEX) Ratings Coverage

Among 11 analysts covering Terex Corp (NYSE:TEX), 2 have Buy rating, 1 Sell and 8 Hold. Therefore 18% are positive. Terex Corp had 14 analyst reports since October 31, 2017 according to SRatingsIntel. The stock of Terex Corporation (NYSE:TEX) has “Hold” rating given on Thursday, January 18 by Jefferies. Barclays Capital initiated Terex Corporation (NYSE:TEX) rating on Tuesday, December 12. Barclays Capital has “Hold” rating and $50.0 target. The company was downgraded on Friday, March 2 by Robert W. Baird. On Friday, April 13 the stock rating was maintained by Robert W. Baird with “Hold”. The rating was maintained by Deutsche Bank on Thursday, February 15 with “Hold”. As per Friday, November 3, the company rating was maintained by BMO Capital Markets. KeyBanc Capital Markets maintained the stock with “Hold” rating in Tuesday, October 31 report. RBC Capital Markets maintained the shares of TEX in report on Thursday, January 11 with “Hold” rating. As per Friday, November 3, the company rating was maintained by RBC Capital Markets. Credit Suisse maintained Terex Corporation (NYSE:TEX) rating on Thursday, February 15. Credit Suisse has “Outperform” rating and $59 target.

Terex Corporation (NYSE:TEX) Institutional Positions Chart

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