Tenneco Inc. (NYSE:TEN) insider James D. Harrington sold 13,765 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $56.87, for a total transaction of $782,815.55. Following the sale, the insider now owns 1,207 shares in the company, valued at $68,642.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Tenneco Inc. (TEN) opened at 57.42 on Tuesday. The stock has a 50 day moving average of $54.04 and a 200-day moving average of $57.95. The company has a market cap of $3.05 billion, a PE ratio of 11.17 and a beta of 1.79. Tenneco Inc. has a 12-month low of $51.09 and a 12-month high of $70.96.
Tenneco (NYSE:TEN) last issued its quarterly earnings data on Friday, July 28th. The auto parts company reported $1.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.10. Tenneco had a return on equity of 54.06% and a net margin of 3.17%. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the firm earned $1.78 earnings per share. Tenneco’s revenue was up 4.7% on a year-over-year basis. On average, equities research analysts anticipate that Tenneco Inc. will post $6.68 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Stockholders of record on Thursday, September 7th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, September 6th. Tenneco’s payout ratio is 19.72%.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Advisory Services Network LLC grew its holdings in shares of Tenneco by 107.4% during the second quarter. Advisory Services Network LLC now owns 2,184 shares of the auto parts company’s stock worth $126,000 after purchasing an additional 1,131 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of Tenneco by 8.4% during the first quarter. Quantbot Technologies LP now owns 2,410 shares of the auto parts company’s stock worth $150,000 after purchasing an additional 187 shares in the last quarter. Telemus Capital LLC grew its holdings in shares of Tenneco by 13.6% during the second quarter. Telemus Capital LLC now owns 3,994 shares of the auto parts company’s stock worth $231,000 after purchasing an additional 477 shares in the last quarter. 1st Global Advisors Inc. purchased a new position in shares of Tenneco during the first quarter worth about $267,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Tenneco during the first quarter worth about $287,000. 94.33% of the stock is owned by institutional investors.
TEN has been the topic of a number of analyst reports. BidaskClub downgraded shares of Tenneco from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. ValuEngine upgraded shares of Tenneco from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. CLSA initiated coverage on shares of Tenneco in a research note on Wednesday, June 21st. They set a “buy” rating and a $68.00 price objective on the stock. Morgan Stanley reduced their price objective on shares of Tenneco from $45.00 to $44.00 and set an “underweight” rating on the stock in a research note on Friday, June 9th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $62.00 price objective (down from $67.00) on shares of Tenneco in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.63.
Tenneco Company Profile
Tenneco Inc is a producer of clean air and ride performance products and systems for light vehicle, commercial truck, off-highway and other vehicle applications. The Company designs, manufactures and distributes highly engineered products for both original equipment vehicle manufacturers (OEMs) and the repair and replacement markets, or aftermarket, across the world.
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