Allspring Global Investments Holdings LLC Boosts Position in Terex Co. (NYSE:TEX)

Allspring Global Investments Holdings LLC raised its stake in Terex Co. (NYSE:TEX) by 98.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,252 shares of the industrial products company’s stock after purchasing an additional 70,012 shares during the period. Allspring Global Investments Holdings LLC owned 0.21% of Terex worth $8,116,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TEX. Curated Wealth Partners LLC grew its stake in Terex by 48.1% during the 4th quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company’s stock worth $10,166,000 after buying an additional 57,500 shares during the last quarter. QRG Capital Management Inc. purchased a new position in shares of Terex during the third quarter worth approximately $294,000. International Assets Investment Management LLC increased its holdings in shares of Terex by 5,549.8% in the 4th quarter. International Assets Investment Management LLC now owns 128,193 shares of the industrial products company’s stock valued at $7,366,000 after acquiring an additional 125,924 shares during the period. Trexquant Investment LP raised its position in Terex by 49.2% in the 3rd quarter. Trexquant Investment LP now owns 64,448 shares of the industrial products company’s stock valued at $3,713,000 after purchasing an additional 21,257 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in Terex during the 3rd quarter worth $302,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

Insider Activity

In related news, insider Kieran Hegarty sold 18,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total value of $1,022,400.00. Following the sale, the insider now directly owns 198,619 shares of the company’s stock, valued at approximately $11,281,559.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO John L. Garrison, Jr. sold 59,094 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $60.07, for a total value of $3,549,776.58. Following the completion of the transaction, the chief executive officer now directly owns 380,834 shares of the company’s stock, valued at $22,876,698.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kieran Hegarty sold 18,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total value of $1,022,400.00. Following the completion of the sale, the insider now owns 198,619 shares in the company, valued at $11,281,559.20. The disclosure for this sale can be found here. Insiders sold a total of 132,039 shares of company stock worth $8,078,574 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on TEX shares. The Goldman Sachs Group lifted their price objective on shares of Terex from $52.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. UBS Group cut Terex from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $61.00 to $62.00 in a research report on Tuesday, February 13th. JPMorgan Chase & Co. lowered Terex from an “overweight” rating to a “neutral” rating and set a $63.00 target price on the stock. in a report on Monday, March 18th. Citigroup increased their price target on Terex from $54.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Finally, Evercore ISI lowered their price objective on shares of Terex from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Terex presently has a consensus rating of “Hold” and a consensus price target of $65.08.

Terex Stock Down 2.2 %

Shares of NYSE TEX opened at $60.71 on Thursday. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 0.62 and a beta of 1.64. Terex Co. has a 52 week low of $42.50 and a 52 week high of $65.89. The firm has a 50-day moving average price of $59.74 and a 200 day moving average price of $55.98. The company has a quick ratio of 0.95, a current ratio of 2.01 and a debt-to-equity ratio of 0.37.

Terex (NYSE:TEX) last issued its earnings results on Friday, February 9th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.41. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Terex had a net margin of 10.06% and a return on equity of 32.89%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the company posted $1.34 earnings per share. Equities research analysts anticipate that Terex Co. will post 6.95 EPS for the current fiscal year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Friday, March 8th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.12%. The ex-dividend date was Thursday, March 7th. Terex’s dividend payout ratio (DPR) is 8.96%.

Terex 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.