Principal Financial Group Inc. Has $10.37 Million Stock Position in Terex Co. (NYSE:TEX)

Principal Financial Group Inc. increased its position in shares of Terex Co. (NYSE:TEX) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 224,351 shares of the industrial products company’s stock after purchasing an additional 6,132 shares during the quarter. Principal Financial Group Inc. owned approximately 0.34% of Terex worth $10,370,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 8,624 shares in the last quarter. Verition Fund Management LLC increased its position in Terex by 3.9% in the 3rd quarter. Verition Fund Management LLC now owns 241,280 shares of the industrial products company’s stock valued at $12,766,000 after acquiring an additional 8,979 shares in the last quarter. Rhumbline Advisers increased its position in Terex by 3.3% in the 4th quarter. Rhumbline Advisers now owns 233,963 shares of the industrial products company’s stock valued at $10,814,000 after acquiring an additional 7,504 shares in the last quarter. Curated Wealth Partners LLC increased its position in Terex by 28.3% in the 4th quarter. Curated Wealth Partners LLC now owns 226,922 shares of the industrial products company’s stock valued at $10,488,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Empowered Funds LLC increased its position in Terex by 13.3% in the 4th quarter. Empowered Funds LLC now owns 199,594 shares of the industrial products company’s stock valued at $9,225,000 after acquiring an additional 23,429 shares in the last quarter. Institutional investors and hedge funds own 92.88% of the company’s stock.

Terex Stock Down 1.7 %

Terex stock opened at $40.63 on Friday. The company’s 50 day simple moving average is $45.80 and its 200 day simple moving average is $50.51. Terex Co. has a fifty-two week low of $40.13 and a fifty-two week high of $68.08. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 4.53 and a beta of 1.54. 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 released its quarterly earnings data on Thursday, February 6th. The industrial products company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same quarter last year, the business posted $1.88 EPS. As a group, sell-side analysts anticipate that Terex Co. will post 4.83 EPS for the current year.

Terex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Friday, March 7th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Friday, March 7th. Terex’s payout ratio is 13.71%.

Insider Buying and Selling

In other Terex news, CEO Simon Meester sold 9,877 shares of Terex stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $51.14, for a total value of $505,109.78. Following the transaction, the chief executive officer now 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David A. Sachs purchased 10,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was bought at an average cost of $51.30 per share, for a total transaction of $513,000.00. Following the purchase, the director now owns 107,500 shares of the company’s stock, 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 owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TEX. Truist Financial lowered their price objective on shares of Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Citigroup lowered their price objective on shares of Terex from $57.00 to $48.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Barclays lowered their price objective on shares of Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Evercore ISI reduced their target price on shares of Terex from $63.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Terex from $59.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Terex presently has a consensus rating of “Hold” and a consensus price target of $56.11.

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.