Allspring Global Investments Holdings LLC Sells 93,298 Shares of Terex Co. (NYSE:TEX)

Allspring Global Investments Holdings LLC lowered its position in Terex Co. (NYSE:TEX) by 66.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,954 shares of the industrial products company’s stock after selling 93,298 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.07% of Terex worth $3,088,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Terex during the fourth quarter worth about $42,606,000. Greenhaven Associates Inc. increased its holdings in shares of Terex by 101.5% in the 4th quarter. Greenhaven Associates Inc. now owns 1,456,700 shares of the industrial products company’s stock worth $83,702,000 after buying an additional 733,690 shares during the last quarter. American Century Companies Inc. raised its position in shares of Terex by 94.6% during the 3rd quarter. American Century Companies Inc. now owns 542,048 shares of the industrial products company’s stock valued at $31,233,000 after buying an additional 263,435 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Terex by 356.0% during the 4th quarter. Allianz Asset Management GmbH now owns 207,155 shares of the industrial products company’s stock worth $11,903,000 after acquiring an additional 161,729 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Terex by 42.6% in the fourth quarter. First Trust Advisors LP now owns 520,820 shares of the industrial products company’s stock worth $29,926,000 after acquiring an additional 155,706 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Insider Transactions at Terex

In related news, insider Kieran Hegarty sold 17,190 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $58.26, for a total value of $1,001,489.40. Following the sale, the insider now directly owns 200,029 shares of the company’s stock, valued at $11,653,689.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Kieran Hegarty sold 17,190 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $58.26, for a total transaction of $1,001,489.40. Following the sale, the insider now owns 200,029 shares of the company’s stock, valued at $11,653,689.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Scott Posner sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $60.48, for a total transaction of $756,000.00. Following the transaction, the vice president now directly owns 58,224 shares of the company’s stock, valued at approximately $3,521,387.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,929 shares of company stock valued at $1,958,307. Corporate insiders own 1.90% of the company’s stock.

Terex Price Performance

TEX opened at $53.38 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 2.16. The stock has a market capitalization of $3.59 billion, a PE ratio of 7.07 and a beta of 1.57. The stock’s 50 day moving average price is $57.75 and its 200-day moving average price is $58.81. Terex Co. has a 52-week low of $43.70 and a 52-week high of $65.89.

Terex (NYSE:TEX) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.23. Terex had a net margin of 9.87% and a return on equity of 30.53%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.23 billion. On average, equities research analysts predict that Terex Co. will post 7.11 EPS for the current year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.27%. Terex’s dividend payout ratio (DPR) is 9.01%.

Wall Street Analyst Weigh In

TEX has been the subject of several research analyst reports. Citigroup assumed coverage on Terex in a research note on Wednesday, June 26th. They set a “neutral” rating and a $60.00 price target for the company. Truist Financial cut their target price on Terex from $73.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday. Raymond James initiated coverage on shares of Terex in a research note on Friday, June 28th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. cut shares of Terex from an “overweight” rating to a “neutral” rating and set a $63.00 price objective for the company. in a research note on Monday, March 18th. Finally, UBS Group lifted their target price on shares of Terex from $62.00 to $64.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $64.67.

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.