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

Allspring Global Investments Holdings LLC reduced its holdings in shares of Terex Co. (NYSE:TEX) by 66.1% in the first quarter, Holdings Channel.com reports. The fund owned 47,954 shares of the industrial products company’s stock after selling 93,298 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Terex were worth $3,088,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of Terex by 179.0% during the fourth quarter. Blue Trust Inc. now owns 466 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 299 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in Terex during the 4th quarter valued at about $29,000. OLD Point Trust & Financial Services N A purchased a new stake in Terex in the 4th quarter valued at about $61,000. Principal Securities Inc. bought a new position in Terex in the 4th quarter worth about $85,000. Finally, Westend Capital Management LLC purchased a new position in shares of Terex during the first quarter worth approximately $203,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Analyst Ratings Changes

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

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

Terex Stock Performance

Shares of TEX stock opened at $53.38 on Wednesday. The company has a current ratio of 2.16, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.59 billion, a PE ratio of 7.07 and a beta of 1.57. Terex Co. has a 12-month low of $43.70 and a 12-month high of $65.89. The business’s fifty day simple moving average is $57.75 and its 200-day simple moving average is $58.81.

Terex (NYSE:TEX) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.23. Terex had a return on equity of 30.53% and a net margin of 9.87%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Analysts expect that Terex Co. will post 7.11 earnings per share for the current fiscal year.

Terex Dividend Announcement

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

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.