Terex Co. (NYSE:TEX) Position Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in Terex Co. (NYSE:TEX) by 98.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 141,252 shares of the industrial products company’s stock after buying an additional 70,012 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Terex were worth $8,116,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Raymond James & Associates grew its holdings in shares of Terex by 17.7% during the first quarter. Raymond James & Associates now owns 39,745 shares of the industrial products company’s stock valued at $1,417,000 after purchasing an additional 5,990 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Terex during the 1st quarter worth $291,000. PNC Financial Services Group Inc. lifted its stake in Terex by 106.6% in the first quarter. PNC Financial Services Group Inc. now owns 10,369 shares of the industrial products company’s stock valued at $368,000 after buying an additional 5,351 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Terex by 42.6% in the first quarter. Acadian Asset Management LLC now owns 4,984 shares of the industrial products company’s stock valued at $177,000 after buying an additional 1,488 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Terex by 40.1% during the first quarter. MetLife Investment Management LLC now owns 80,649 shares of the industrial products company’s stock worth $2,876,000 after acquiring an additional 23,093 shares during the last quarter. Institutional investors own 92.88% of the company’s stock.

Analyst Ratings Changes

TEX has been the topic of several recent research reports. Bank of America reiterated an “underperform” rating and issued a $57.00 price objective on shares of Terex in a research report on Friday, January 19th. Citigroup boosted their price objective on Terex from $54.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Truist Financial started coverage on Terex in a research report on Thursday, March 14th. They issued a “buy” rating and a $73.00 target price on the stock. JPMorgan Chase & Co. downgraded Terex from an “overweight” rating to a “neutral” rating and set a $63.00 target price on the stock. in a research note on Monday, March 18th. Finally, Evercore ISI decreased their price target on Terex from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $65.08.

Terex Price Performance

NYSE:TEX opened at $60.71 on Thursday. The company has a quick ratio of 0.95, a current ratio of 2.01 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average price is $59.74 and its 200 day moving average price is $55.98. Terex Co. has a 52-week low of $42.50 and a 52-week high of $65.89. The firm has a market cap of $4.09 billion, a P/E ratio of 8.00, a PEG ratio of 0.62 and a beta of 1.64.

Terex (NYSE:TEX) last released its earnings results on Friday, February 9th. The industrial products company reported $1.41 EPS for the quarter, hitting analysts’ consensus estimates of $1.41. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.23 billion. Terex had a net margin of 10.06% and a return on equity of 32.89%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.34 EPS. As a group, sell-side analysts predict that Terex Co. will post 6.95 earnings per share for the current fiscal year.

Terex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Friday, March 8th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Thursday, March 7th. Terex’s dividend payout ratio is presently 8.96%.

Insider Buying and Selling

In other news, insider Kieran Hegarty sold 18,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the completion of the sale, the insider now directly owns 198,619 shares of the company’s stock, valued at $11,281,559.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Terex news, insider Kieran Hegarty sold 18,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $56.80, for a total transaction of $1,022,400.00. Following the completion of the sale, the insider now directly owns 198,619 shares of the company’s stock, valued at $11,281,559.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joshua Gross sold 4,945 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $59.13, for a total transaction of $292,397.85. Following the completion of the transaction, the insider now owns 21,457 shares of the company’s stock, valued at $1,268,752.41. The disclosure for this sale can be found here. Insiders have sold 132,039 shares of company stock worth $8,078,574 in the last three months. 1.90% of the stock is currently owned by insiders.

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.