Terex Co. (NYSE:TEX) Holdings Cut by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of Terex Co. (NYSE:TEX - Free Report) by 20.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. 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 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. GAMMA Investing LLC increased its holdings in Terex by 83.3% during the 3rd quarter. GAMMA Investing LLC now owns 737 shares of the industrial products company's stock worth $39,000 after purchasing an additional 335 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Terex during the 3rd quarter valued at about $40,000. Truvestments Capital LLC acquired a new stake in Terex during the third quarter worth about $41,000. Blue Trust Inc. lifted its holdings in Terex by 89.3% in the third quarter. Blue Trust Inc. now owns 969 shares of the industrial products company's stock worth $53,000 after acquiring an additional 457 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Terex by 74.6% during the third quarter. Farther Finance Advisors LLC now owns 1,180 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 504 shares during the last quarter. Institutional investors and hedge funds own 92.88% of the company's stock.

Terex Price Performance

Shares of NYSE:TEX traded down $0.02 during trading hours on Monday, hitting $45.21. 544,046 shares of the company's stock traded hands, compared to its average volume of 808,956. 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 company's fifty day simple moving average is $51.84 and its two-hundred day simple moving average is $53.77. Terex Co. has a 52 week low of $44.43 and a 52 week high of $68.08. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 6.60, a price-to-earnings-growth ratio of 4.00 and a beta of 1.53.

Terex (NYSE:TEX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.15. Terex had a net margin of 9.08% and a return on equity of 24.92%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the business posted $1.75 earnings per share. The firm's quarterly revenue was down 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that Terex Co. will post 6.07 EPS for the current fiscal year.

Terex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, November 8th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Friday, November 8th. Terex's dividend payout ratio is 9.93%.

Insider Activity at Terex

In other news, CEO Simon Meester sold 9,877 shares of the firm'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 completion of the sale, the chief executive officer now owns 127,858 shares of the company's stock, valued at $6,538,658.12. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director David A. Sachs purchased 20,000 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $49.75 per share, for a total transaction of $995,000.00. Following the completion of the transaction, the director now directly owns 137,500 shares of the company's stock, valued at $6,840,625. This trade represents a 17.02 % increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TEX has been the subject of a number of recent research reports. Truist Financial lowered their price objective on Terex from $65.00 to $58.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on shares of Terex from $65.00 to $62.00 and set a "neutral" rating on the stock in a research report on Monday, October 14th. Citigroup dropped their price target on shares of Terex from $60.00 to $57.00 and set a "neutral" rating on the stock in a research note on Monday, September 23rd. 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. Finally, Robert W. Baird lowered their price target on Terex from $65.00 to $55.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $58.78.

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.