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

Allspring Global Investments Holdings LLC increased its stake in Terex Co. (NYSE:TEX - Free Report) by 98.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 owned 0.21% of Terex worth $8,116,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Curated Wealth Partners LLC grew its holdings in Terex by 48.1% in the fourth quarter. Curated Wealth Partners LLC now owns 176,922 shares of the industrial products company's stock worth $10,166,000 after purchasing an additional 57,500 shares during the period. QRG Capital Management Inc. purchased a new stake in shares of Terex during the third quarter valued at approximately $294,000. International Assets Investment Management LLC grew its holdings in shares of Terex by 5,549.8% during the fourth quarter. International Assets Investment Management LLC now owns 128,193 shares of the industrial products company's stock valued at $7,366,000 after buying an additional 125,924 shares during the last quarter. Trexquant Investment LP grew its holdings in shares of Terex by 49.2% during the third quarter. Trexquant Investment LP now owns 64,448 shares of the industrial products company's stock valued at $3,713,000 after buying an additional 21,257 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Terex during the third quarter valued at approximately $302,000. Hedge funds and other institutional investors own 92.88% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group increased their price target on shares of Terex from $52.00 to $59.00 and gave the company a "neutral" rating in a report on Tuesday, February 13th. Bank of America reiterated an "underperform" rating and set a $57.00 price target on shares of Terex in a report on Friday, January 19th. Truist Financial initiated coverage on shares of Terex in a report on Thursday, March 14th. They issued a "buy" rating and a $73.00 target price on the stock. Jefferies Financial Group cut shares of Terex from a "buy" rating to a "hold" rating and dropped their target price for the stock from $73.00 to $63.00 in a report on Wednesday, December 20th. Finally, JPMorgan Chase & Co. cut shares of 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Terex has a consensus rating of "Hold" and a consensus target price of $65.08.

Insider Activity

In related news, insider Joshua Gross sold 4,945 shares of Terex stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $59.13, for a total transaction of $292,397.85. Following the transaction, the insider now owns 21,457 shares in the company, valued at approximately $1,268,752.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Joshua Gross sold 4,945 shares of Terex stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $59.13, for a total transaction of $292,397.85. Following the transaction, the insider now owns 21,457 shares in the company, valued at approximately $1,268,752.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kieran Hegarty sold 18,000 shares of Terex stock in a transaction on 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 transaction, the insider now owns 198,619 shares in the company, valued at approximately $11,281,559.20. 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. Company insiders own 1.90% of the company's stock.

Terex Stock Performance

TEX traded down $0.96 during trading on Thursday, hitting $59.75. The company's stock had a trading volume of 864,096 shares, compared to its average volume of 706,336. 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 Co. has a one year low of $42.50 and a one year high of $65.89. The firm has a market cap of $4.02 billion, a PE ratio of 7.87, a P/E/G ratio of 0.62 and a beta of 1.64. The business's 50 day simple moving average is $59.74 and its 200-day simple moving average is $55.98.

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

Terex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Friday, March 8th were given a $0.17 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.68 annualized dividend and a yield of 1.14%. Terex's payout ratio is presently 8.96%.

About Terex

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.