Tenneco Target of Unusually High Options Trading (TEN)

Tenneco Inc (NYSE:TEN) was the target of unusually large options trading on Thursday. Traders purchased 1,201 call options on the company. This is an increase of approximately 1,297% compared to the typical daily volume of 86 call options.

Tenneco stock opened at $33.40 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.22 and a quick ratio of 0.85. Tenneco has a one year low of $32.63 and a one year high of $65.59. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 4.84, a price-to-earnings-growth ratio of 0.47 and a beta of 1.77.

Tenneco (NYSE:TEN) last released its quarterly earnings results on Friday, July 27th. The auto parts company reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.08). Tenneco had a net margin of 2.59% and a return on equity of 48.44%. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the business posted $1.90 earnings per share. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, equities analysts predict that Tenneco will post 6.76 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Tuesday, December 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Monday, December 3rd. Tenneco’s dividend payout ratio (DPR) is presently 14.51%.

A number of research firms have recently issued reports on TEN. Morgan Stanley dropped their price target on Tenneco from $41.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday, August 13th. Wolfe Research began coverage on Tenneco in a research report on Tuesday, October 2nd. They set a “peer perform” rating on the stock. Royal Bank of Canada dropped their price target on Tenneco to $47.00 and set an “underperform” rating on the stock in a research report on Thursday, October 4th. Finally, Wells Fargo & Co dropped their price objective on Tenneco from $50.00 to $45.00 and set a “market perform” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Tenneco has an average rating of “Hold” and an average target price of $59.88.

In other news, Director Thomas C. Freyman purchased 5,000 shares of the company’s stock in a transaction dated Thursday, August 9th. The shares were acquired at an average price of $44.49 per share, with a total value of $222,450.00. Following the transaction, the director now owns 22,265 shares of the company’s stock, valued at $990,569.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.95% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Balter Liquid Alternatives LLC purchased a new stake in Tenneco in the second quarter valued at about $147,000. NumerixS Investment Technologies Inc purchased a new stake in Tenneco in the second quarter valued at about $174,000. Cerebellum GP LLC purchased a new stake in Tenneco in the second quarter valued at about $176,000. Sei Investments Co. raised its stake in Tenneco by 279.8% in the first quarter. Sei Investments Co. now owns 3,544 shares of the auto parts company’s stock valued at $195,000 after buying an additional 2,611 shares during the last quarter. Finally, Element Capital Management LLC purchased a new stake in Tenneco in the first quarter valued at about $255,000. Institutional investors own 80.80% of the company’s stock.

Tenneco Company Profile

Tenneco Inc designs, manufactures, and distributes clean air and ride performance products and systems for light vehicle, commercial truck, off-highway, and other vehicle applications worldwide. The company offers various vehicle emission control products and systems, including catalytic converters and diesel oxidation catalysts, diesel particulate filters, burner systems, lean nitrogen oxide (NOx) traps, hydrocarbon vaporizers and injectors, selective catalytic reduction (SCR) systems, SCR-coated diesel particulate filters systems, urea dosing systems, four-way catalysts, alternative NOx reduction technologies, mufflers and resonators, fabricated exhaust manifolds, pipes, hydroformed assemblies, elastomeric hangers and isolators, and after treatment control units.

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