Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Terex Corporation shares valued at $597,960 were sold by GARRISON JOHN L JR on Jun 29. At $60.00 per share, GARRISON JOHN L JR sold 9,966 shares. The insider’s holdings dropped to 535,331 shares worth approximately $30.23 million following the completion of this transaction.
Also, Hegarty Kieran sold 27,000 shares, netting a total of over 1,507,680 in proceeds. Following the sale of shares at $55.84 each, the insider now holds 186,659 shares.
Before that, MEESTER SIMON had sold 6,000 shares from its account. In a trade valued at $302,640, the President – Genie traded Terex Corporation shares for $50.44 each. Upon closing the transaction, the insider’s holdings decreased to 6,000 shares, worth approximately $3.16 million.
As published in their initiating research note from Raymond James on July 07, 2023, Terex Corporation [TEX] has been a Mkt perform.
Analyzing TEX Stock Performance
On Wednesday, Terex Corporation [NYSE: TEX] rose 1.13% to $56.47. The stock’s lowest price that day was $55.30, but it reached a high of $56.89 in the same session. During the last five days, there has been a drop of approximately -3.40%. Over the course of the year, Terex Corporation shares have jumped approximately 32.19%. Shares of the company reached a 52-week high of $65.64 on 07/18/23 and a 52-week low of $41.69 on 01/05/23. A 50-day SMA is recorded $59.67, while a 200-day SMA reached $50.93. Nevertheless, trading volume fell to 0.58 million shares from 1.04 million shares the previous day.
Support And Resistance Levels for Terex Corporation (TEX)
According to the 24-hour chart, there is a support level at 55.55, which, if violated, would cause prices to drop to 54.63. In the upper region, resistance lies at 57.14. The next price resistance is at 57.81. RSI (Relative Strength Index) is 38.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.34, which suggests the price will decrease in the coming days. Percent R is at 86.76%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Terex Corporation subject to short interest?
Stocks of Terex Corporation saw a sharp rise in short interest on Jul 30, 2023 jumping by 0.22 million shares to 3.84 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 3.62 million shares. A jump of 5.73% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.38 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.38.
Which companies own the most shares of Terex Corporation (TEX)?
According to BlackRock Fund Advisors filings, the company currently owns 7,642,093 shares, which is about 11.27% of the total TEX shares outstanding. The investor’s shares have appreciated by 111,758 from its previous 13-F filing of 7530335.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $445,317,950. Dimensional Fund Advisors LP reduced a -3.66% interest valued at $171.81 million while Fidelity Management & Research Co purchased a 593,080 stake. A total of 6,357 shares of Terex Corporation were bought by SSgA Funds Management, Inc. during the quarter, and -821,549 were sold by Pzena Investment Management LLC. In its current portfolio, Fisher Asset Management LLC holds 2,146,195 shares valued at $125.83 million.
In terms of Terex Corporation share price expectations, FactSet research, analysts set an average price target of $69.93 in the next 12 months, up nearly 25.36% from the previous closing price of $55.84. Analysts anticipate Terex Corporation stock to reach $80.00 by 2023, with the lowest price target being $60.00. In spite of this, 16 analysts ranked Terex Corporation stock as an Overweight at the end of 2023.