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

Principal Financial Group Inc. lowered its stake in Terex Co. (NYSE:TEX) by 20.2% in the third quarter, according to the company in 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 period. Principal Financial Group Inc. owned 0.33% of Terex worth $11,546,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. lifted its position in Terex by 1.8% during the 1st quarter. Sei Investments Co. now owns 65,717 shares of the industrial products company’s stock worth $4,232,000 after acquiring an additional 1,185 shares during the period. ProShare Advisors LLC boosted its position in Terex by 4.6% in the first quarter. ProShare Advisors LLC now owns 15,229 shares of the industrial products company’s stock valued at $981,000 after buying an additional 673 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in Terex by 27.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 24,553 shares of the industrial products company’s stock valued at $1,581,000 after buying an additional 5,359 shares during the last quarter. Covestor Ltd increased its holdings in Terex by 232.7% in the 1st quarter. Covestor Ltd now owns 2,033 shares of the industrial products company’s stock worth $131,000 after buying an additional 1,422 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its position in Terex by 5.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 9,511 shares of the industrial products company’s stock worth $613,000 after buying an additional 525 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on TEX. Robert W. Baird lowered their target price on Terex from $65.00 to $55.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. The Goldman Sachs Group lowered their price objective on Terex from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Citigroup cut their target price on shares of Terex from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. JPMorgan Chase & Co. lowered 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. Finally, Evercore ISI cut their price objective on shares of Terex from $67.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued 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 $59.56.

Terex Stock Performance

NYSE TEX opened at $51.98 on Monday. 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 stock’s fifty day moving average is $53.23 and its two-hundred day moving average is $55.64. The firm has a market capitalization of $3.47 billion, a P/E ratio of 7.59, a price-to-earnings-growth ratio of 4.20 and a beta of 1.53. Terex Co. has a fifty-two week low of $48.11 and a fifty-two week high of $68.08.

Terex (NYSE:TEX) last released its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Terex had a return on equity of 24.92% and a net margin of 9.08%. The company’s revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.75 EPS. On average, research analysts anticipate that Terex Co. will post 6.07 earnings per share for the current year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 8th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, November 8th. Terex’s payout ratio is 9.93%.

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.