Allspring Global Investments Holdings LLC Purchases 622 Shares of Terex Co. (NYSE:TEX)

Allspring Global Investments Holdings LLC increased its position in shares of Terex Co. (NYSE:TEX) by 1.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,991 shares of the industrial products company’s stock after acquiring an additional 622 shares during the period. Allspring Global Investments Holdings LLC owned about 0.07% of Terex worth $2,246,000 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. Cascade Investment Advisors Inc. bought a new stake in Terex during the 4th quarter worth $1,070,000. Chartwell Investment Partners LLC acquired a new position in Terex during the 3rd quarter worth about $559,000. GSA Capital Partners LLP acquired a new position in Terex during the 3rd quarter worth about $615,000. Barclays PLC lifted its holdings in Terex by 40.2% during the 3rd quarter. Barclays PLC now owns 129,250 shares of the industrial products company’s stock worth $6,838,000 after buying an additional 37,072 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Terex during the 3rd quarter worth about $4,283,000. Institutional investors own 92.88% of the company’s stock.

Terex Stock Down 5.2 %

Shares of NYSE:TEX opened at $43.21 on Friday. Terex Co. has a 1 year low of $43.01 and a 1 year high of $68.08. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 8.71, a P/E/G ratio of 4.70 and a beta of 1.54. The business’s 50-day moving average is $46.26 and its 200-day moving average is $50.95. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.16 and a quick ratio of 1.09.

Terex (NYSE:TEX) last issued its earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. Terex had a return on equity of 21.99% and a net margin of 6.54%. During the same period last year, the business posted $1.88 earnings per share. Equities research analysts predict that Terex Co. will post 4.83 earnings per share for the current year.

Terex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, March 7th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, March 7th. Terex’s payout ratio is 13.71%.

Analyst Upgrades and Downgrades

TEX has been the topic of several recent research reports. Robert W. Baird cut their target price on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. cut their target price on Terex from $59.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Truist Financial cut their target price on Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Barclays cut their target price on Terex from $60.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Finally, StockNews.com downgraded Terex from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Terex presently has a consensus rating of “Hold” and a consensus target price of $56.11.

Insider Activity at Terex

In other Terex news, CEO Simon Meester sold 9,877 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total transaction of $505,109.78. Following the completion of the sale, the chief executive officer now directly owns 127,858 shares of the company’s stock, valued at approximately $6,538,658.12. The trade was a 7.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David A. Sachs acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were bought at an average cost of $51.30 per share, with a total value of $513,000.00. Following the completion of the acquisition, the director now directly owns 107,500 shares in the company, valued at approximately $5,514,750. This represents a 10.26 % increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by corporate insiders.

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.