Allspring Global Investments Holdings LLC Decreases Stake in Terex Corporation (NYSE:TEX)

Allspring Global Investments Holdings LLC lowered its position in Terex Corporation (NYSE:TEX) by 74.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 12,441 shares of the industrial products company’s stock after selling 36,550 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Terex were worth $474,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Terex by 17.0% in the 4th quarter. FMR LLC now owns 8,782,287 shares of the industrial products company’s stock worth $405,917,000 after purchasing an additional 1,272,920 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in Terex by 94.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,150,673 shares of the industrial products company’s stock worth $99,404,000 after purchasing an additional 1,046,600 shares during the period. First Trust Advisors LP boosted its stake in Terex by 43.2% in the 4th quarter. First Trust Advisors LP now owns 1,930,923 shares of the industrial products company’s stock worth $89,247,000 after purchasing an additional 582,819 shares during the period. American Century Companies Inc. boosted its stake in Terex by 8.4% in the 4th quarter. American Century Companies Inc. now owns 1,741,206 shares of the industrial products company’s stock worth $80,479,000 after purchasing an additional 135,286 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Terex in the 4th quarter worth about $59,179,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TEX. Morgan Stanley cut their target price on Terex from $43.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. lifted their price target on Terex from $43.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, June 10th. Wall Street Zen upgraded Terex from a “sell” rating to a “hold” rating in a research report on Wednesday, May 21st. UBS Group lifted their price target on Terex from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, The Goldman Sachs Group upgraded Terex from a “neutral” rating to a “buy” rating and lifted their price target for the company from $45.00 to $60.00 in a research report on Tuesday, May 27th. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Terex presently has a consensus rating of “Moderate Buy” and an average target price of $51.80.

Insider Activity

In other news, insider Joshua Gross sold 5,389 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $40.75, for a total transaction of $219,601.75. Following the transaction, the insider directly owned 38,755 shares of the company’s stock, valued at approximately $1,579,266.25. The trade was a 12.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.

Terex Stock Performance

Shares of TEX stock opened at $53.52 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.07 and a current ratio of 2.11. Terex Corporation has a fifty-two week low of $31.53 and a fifty-two week high of $68.08. The stock has a 50 day moving average price of $46.22 and a two-hundred day moving average price of $43.21. The company has a market capitalization of $3.55 billion, a P/E ratio of 14.58, a PEG ratio of 5.32 and a beta of 1.58.

Terex (NYSE:TEX) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.26. Terex had a return on equity of 18.79% and a net margin of 4.89%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. The business’s revenue was down 4.9% on a year-over-year basis. Analysts expect that Terex Corporation will post 4.83 earnings per share for the current year.

Terex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, June 6th. This represents a $0.68 annualized dividend and a dividend yield of 1.27%. Terex’s dividend payout ratio (DPR) is presently 18.53%.

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.