Terex Co. (NYSE:TEX) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of Terex Co. (NYSE:TEX) by 20.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 218,219 shares of the industrial products company’s stock after selling 55,384 shares during the period. Principal Financial Group Inc.’s holdings in Terex were worth $11,546,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TEX. Dimensional Fund Advisors LP increased its stake in Terex by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company’s stock valued at $154,224,000 after purchasing an additional 109,885 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Terex by 18.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company’s stock valued at $99,045,000 after buying an additional 285,750 shares during the last quarter. Geode Capital Management LLC raised its stake in Terex by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,596,070 shares of the industrial products company’s stock worth $84,463,000 after acquiring an additional 8,624 shares in the last quarter. American Century Companies Inc. lifted its position in Terex by 25.6% in the second quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company’s stock valued at $72,538,000 after acquiring an additional 269,777 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Terex by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 790,118 shares of the industrial products company’s stock valued at $43,330,000 after acquiring an additional 26,377 shares in the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TEX shares. 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 research report on Thursday, October 31st. JPMorgan Chase & Co. cut their price target on Terex from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. The Goldman Sachs Group decreased their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Truist Financial cut their target price on shares of Terex from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Citigroup reduced their price target on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $58.78.

Terex Stock Down 1.2 %

Shares of Terex stock opened at $45.23 on Monday. Terex Co. has a one year low of $44.43 and a one year high of $68.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.39. The firm has a fifty day moving average of $51.84 and a two-hundred day moving average of $53.78. The company has a market cap of $3.02 billion, a P/E ratio of 6.60, a PEG ratio of 4.00 and a beta of 1.53.

Terex (NYSE:TEX) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.75 EPS. On average, analysts forecast that Terex Co. will post 6.07 earnings per share for the current year.

Terex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, November 8th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Friday, November 8th. Terex’s dividend payout ratio (DPR) is currently 9.93%.

Insiders Place Their Bets

In other news, Director David A. Sachs acquired 10,000 shares of Terex stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased 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 owns 107,500 shares in the company, valued at $5,514,750. This trade represents a 10.26 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Simon Meester sold 9,877 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $51.14, for a total value of $505,109.78. Following the sale, the chief executive officer now owns 127,858 shares in the company, valued at approximately $6,538,658.12. The trade was a 7.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

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.