Pacer Advisors Inc. raised its position in Tenneco Inc. (NYSE:TEN) by 12.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,360 shares of the auto parts company’s stock after buying an additional 1,045 shares during the period. Pacer Advisors Inc.’s holdings in Tenneco were worth $585,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of TEN. Harvest Fund Management Co. Ltd acquired a new position in shares of Tenneco during the fourth quarter worth about $136,000. Fortaleza Asset Management Inc. raised its position in shares of Tenneco by 4.8% in the fourth quarter. Fortaleza Asset Management Inc. now owns 3,460 shares of the auto parts company’s stock worth $216,000 after buying an additional 160 shares during the last quarter. Telemus Capital LLC purchased a new position in shares of Tenneco during the first quarter worth about $220,000. First Heartland Consultants Inc. purchased a new position in shares of Tenneco during the third quarter worth about $233,000. Finally, Winslow Evans & Crocker Inc. raised its position in shares of Tenneco by 39,760.0% in the first quarter. Winslow Evans & Crocker Inc. now owns 3,986 shares of the auto parts company’s stock worth $249,000 after buying an additional 3,976 shares during the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.
Shares of Tenneco Inc. (TEN) traded down 5.60% during midday trading on Friday, hitting $54.65. The stock had a trading volume of 1,015,302 shares. The firm has a market capitalization of $2.95 billion, a PE ratio of 8.23 and a beta of 1.76. The company’s 50 day moving average price is $57.35 and its 200-day moving average price is $62.34. Tenneco Inc. has a 1-year low of $44.55 and a 1-year high of $70.96.
Tenneco (NYSE:TEN) last posted its quarterly earnings results on Monday, May 1st. The auto parts company reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.10. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.24 billion. Tenneco had a net margin of 4.21% and a return on equity of 55.31%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $1.17 EPS. Equities analysts predict that Tenneco Inc. will post $6.56 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Wednesday, June 7th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, June 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.83%. Tenneco’s dividend payout ratio is 15.17%.
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Several equities research analysts have recently weighed in on the company. Jefferies Group LLC reissued a “hold” rating and set a $67.00 price objective on shares of Tenneco in a research note on Tuesday, April 25th. ValuEngine lowered Tenneco from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Royal Bank Of Canada increased their target price on Tenneco from $67.00 to $71.00 and gave the company a “sector perform” rating in a report on Tuesday, May 2nd. Morgan Stanley cut their price objective on Tenneco from $45.00 to $44.00 and set an “underweight” rating for the company in a report on Friday, June 9th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on Tenneco in a report on Monday, April 3rd. They set a “buy” rating and a $71.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $66.43.
In related news, Director David B. Price, Jr. sold 4,893 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $57.82, for a total transaction of $282,913.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.70% of the company’s stock.
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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