Principal Financial Group Inc. Trims Stock Holdings in Terex Co. (NYSE:TEX)

Principal Financial Group Inc. reduced its stake in shares of Terex Co. (NYSE:TEX - Free Report) by 20.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 218,219 shares of the industrial products company's stock after selling 55,384 shares during the quarter. Principal Financial Group Inc. owned 0.33% of Terex worth $11,546,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of TEX. Dimensional Fund Advisors LP increased its stake in Terex by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,812,383 shares of the industrial products company's stock worth $154,224,000 after purchasing an additional 109,885 shares during the period. AQR Capital Management LLC grew its holdings in shares of Terex by 18.4% in the second quarter. AQR Capital Management LLC now owns 1,837,563 shares of the industrial products company's stock worth $99,045,000 after purchasing an additional 285,750 shares during the last quarter. Greenhaven Associates Inc. increased its stake in shares of Terex by 1.6% in the second quarter. Greenhaven Associates Inc. now owns 1,499,671 shares of the industrial products company's stock worth $82,242,000 after buying an additional 23,371 shares during the period. American Century Companies Inc. raised its holdings in Terex by 25.6% during the 2nd quarter. American Century Companies Inc. now owns 1,322,729 shares of the industrial products company's stock valued at $72,538,000 after buying an additional 269,777 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Terex by 3.5% during the 2nd 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 buying an additional 26,377 shares during the period. Hedge funds and other institutional investors own 92.88% of the company's stock.

Terex Stock Up 0.6 %

TEX stock traded up $0.29 during trading on Monday, hitting $52.27. 573,772 shares of the stock traded hands, compared to its average volume of 818,751. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.16. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 7.59, a price-to-earnings-growth ratio of 4.20 and a beta of 1.53. Terex Co. has a 1 year low of $48.11 and a 1 year high of $68.08. The firm's 50 day moving average is $53.23 and its two-hundred day moving average is $55.64.

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

Terex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, November 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.30%. Terex's dividend payout ratio (DPR) is presently 9.93%.

Analysts Set New Price Targets

Several brokerages have recently commented on TEX. Evercore ISI lowered their price objective on shares of Terex from $67.00 to $59.00 and set an "outperform" rating for the company in a research note on Monday, August 19th. The Goldman Sachs Group dropped 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. Citigroup reduced their target price on Terex from $60.00 to $57.00 and set a "neutral" rating on the stock in a research note on Monday, September 23rd. Truist Financial raised their price target on Terex from $62.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of Terex from $65.00 to $62.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Terex presently has a consensus rating of "Hold" and a consensus target price of $59.56.

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.