Allspring Global Investments Holdings LLC Has $474,000 Stock Position in Terex Corporation (NYSE:TEX)

Allspring Global Investments Holdings LLC cut its stake in shares of Terex Corporation (NYSE:TEX - Free Report) by 74.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,441 shares of the industrial products company's stock after selling 36,550 shares during the period. Allspring Global Investments Holdings LLC's holdings in Terex were worth $474,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC acquired a new stake in Terex during the fourth quarter valued at $59,179,000. FMR LLC lifted its holdings in shares of Terex by 17.0% during the 4th quarter. FMR LLC now owns 8,782,287 shares of the industrial products company's stock valued at $405,917,000 after buying an additional 1,272,920 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of 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 valued at $99,404,000 after buying an additional 1,046,600 shares in the last quarter. Norges Bank bought a new stake in shares of Terex in the 4th quarter valued at approximately $35,001,000. Finally, First Trust Advisors LP increased its holdings in Terex by 43.2% in the fourth quarter. First Trust Advisors LP now owns 1,930,923 shares of the industrial products company's stock worth $89,247,000 after buying an additional 582,819 shares during the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Joshua Gross sold 5,389 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $40.75, for a total value of $219,601.75. Following the transaction, the insider owned 38,755 shares in the company, valued at approximately $1,579,266.25. This represents a 12.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.90% of the company's stock.

Terex Stock Down 2.5%

Shares of NYSE:TEX traded down $1.34 during midday trading on Friday, reaching $52.06. 1,075,108 shares of the company were exchanged, compared to its average volume of 927,260. The firm has a market cap of $3.45 billion, a PE ratio of 14.19, a P/E/G ratio of 5.42 and a beta of 1.58. Terex Corporation has a fifty-two week low of $31.53 and a fifty-two week high of $68.08. The stock has a fifty day simple moving average of $46.47 and a two-hundred day simple moving average of $43.24. The company has a quick ratio of 1.07, a current ratio of 2.11 and a debt-to-equity ratio of 1.40.

Terex (NYSE:TEX - Get Free Report) last released its earnings results on Friday, May 2nd. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.26. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.26 billion. Terex had a return on equity of 18.79% and a net margin of 4.89%. Terex's quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.60 earnings per share. As a group, sell-side analysts forecast 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. Investors of record on Friday, June 6th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Friday, June 6th. Terex's payout ratio is presently 18.53%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TEX shares. Robert W. Baird raised Terex from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $48.00 to $66.00 in a research report on Tuesday, May 13th. Evercore ISI boosted their target price on Terex from $59.00 to $62.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Citigroup decreased their target price on Terex from $45.00 to $36.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group raised shares of 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. Finally, UBS Group boosted their price objective on shares of Terex from $48.00 to $52.00 and gave the stock a "neutral" rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.44.

Terex Company 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.