JPMorgan Chase & Co. reduced its stake in shares of Tenneco Inc (NYSE:TEN) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 218,214 shares of the auto parts company’s stock after selling 3,533 shares during the quarter. JPMorgan Chase & Co. owned about 0.42% of Tenneco worth $13,272,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Advisory Services Network LLC grew its position in shares of Tenneco by 107.4% during the 2nd quarter. Advisory Services Network LLC now owns 2,184 shares of the auto parts company’s stock worth $126,000 after buying an additional 1,131 shares during the period. Advisor Group Inc. grew its position in shares of Tenneco by 83.1% during the 3rd quarter. Advisor Group Inc. now owns 2,364 shares of the auto parts company’s stock worth $143,000 after buying an additional 1,073 shares during the period. Fortaleza Asset Management Inc. lifted its holdings in shares of Tenneco by 122.5% during the 3rd quarter. Fortaleza Asset Management Inc. now owns 2,670 shares of the auto parts company’s stock valued at $162,000 after purchasing an additional 1,470 shares in the last quarter. Commonwealth Equity Services Inc bought a new position in shares of Tenneco during the 3rd quarter valued at about $238,000. Finally, Cim Investment Mangement Inc. bought a new position in shares of Tenneco during the 2nd quarter valued at about $270,000. Institutional investors own 94.42% of the company’s stock.
Tenneco Inc (NYSE TEN) traded up $0.78 during midday trading on Friday, reaching $64.69. The company’s stock had a trading volume of 295,426 shares, compared to its average volume of 377,722. The company has a market cap of $3,300.00, a PE ratio of 20.09, a price-to-earnings-growth ratio of 0.69 and a beta of 1.92. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.33 and a quick ratio of 0.93. Tenneco Inc has a 12-month low of $51.54 and a 12-month high of $70.96.
Tenneco (NYSE:TEN) last announced its quarterly earnings data on Friday, October 27th. The auto parts company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.08. Tenneco had a return on equity of 54.13% and a net margin of 1.97%. The company had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the business posted $1.53 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. sell-side analysts forecast that Tenneco Inc will post 6.72 earnings per share for the current fiscal year.
TEN has been the topic of several recent analyst reports. KeyCorp reiterated a “buy” rating and set a $80.00 price objective (up previously from $73.00) on shares of Tenneco in a report on Monday, October 30th. They noted that the move was a valuation call. Barclays reiterated a “buy” rating and set a $74.00 price objective on shares of Tenneco in a report on Tuesday. Royal Bank of Canada reiterated a “hold” rating and set a $64.00 price objective on shares of Tenneco in a report on Wednesday, December 20th. Finally, Wells Fargo & Co cut their price objective on Tenneco from $68.00 to $64.00 and set a “market perform” rating on the stock in a report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $67.30.
In related news, insider Peng Guo sold 5,558 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $57.69, for a total transaction of $320,641.02. Following the completion of the sale, the insider now directly owns 87,957 shares in the company, valued at approximately $5,074,239.33. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.70% of the company’s stock.
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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