United Capital Financial Advisers LLC reduced its stake in Tenneco Inc (NYSE:TEN) by 16.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,658 shares of the auto parts company’s stock after selling 2,304 shares during the period. United Capital Financial Advisers LLC’s holdings in Tenneco were worth $640,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its position in shares of Tenneco by 179.6% in the 1st quarter. Meeder Asset Management Inc. now owns 2,631 shares of the auto parts company’s stock worth $144,000 after purchasing an additional 1,690 shares during the last quarter. Sei Investments Co. boosted its position in shares of Tenneco by 279.8% in the 1st quarter. Sei Investments Co. now owns 3,544 shares of the auto parts company’s stock worth $195,000 after purchasing an additional 2,611 shares during the last quarter. US Bancorp DE boosted its position in shares of Tenneco by 44.2% in the 1st quarter. US Bancorp DE now owns 3,731 shares of the auto parts company’s stock worth $204,000 after purchasing an additional 1,144 shares during the last quarter. Stevens Capital Management LP bought a new position in shares of Tenneco in the 1st quarter worth $220,000. Finally, M&T Bank Corp bought a new position in shares of Tenneco in the 1st quarter worth $226,000. Institutional investors and hedge funds own 93.08% of the company’s stock.
TEN has been the topic of several recent research reports. ValuEngine lowered Tenneco from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Morgan Stanley upgraded Tenneco from an “underweight” rating to an “equal weight” rating and set a $41.00 price target on the stock in a research report on Wednesday, May 9th. Deutsche Bank reduced their price target on Tenneco from $66.00 to $61.00 and set a “hold” rating on the stock in a research report on Wednesday, April 11th. TheStreet lowered Tenneco from a “b-” rating to a “c+” rating in a research report on Tuesday, May 8th. Finally, Goldman Sachs Group lowered Tenneco from a “buy” rating to a “neutral” rating and set a $62.00 target price on the stock. in a report on Friday, April 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $63.67.
In other Tenneco news, CEO Brian J. Kesseler bought 21,500 shares of Tenneco stock in a transaction on Friday, May 11th. The shares were purchased at an average cost of $46.63 per share, for a total transaction of $1,002,545.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.95% of the company’s stock.
Tenneco opened at $45.21 on Thursday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.88 and a current ratio of 1.25. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 6.56, a price-to-earnings-growth ratio of 0.44 and a beta of 1.79. Tenneco Inc has a 1-year low of $43.48 and a 1-year high of $65.59.
Tenneco (NYSE:TEN) last posted its earnings results on Friday, April 27th. The auto parts company reported $1.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.69 by ($0.11). The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.42 billion. Tenneco had a return on equity of 50.58% and a net margin of 2.10%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 earnings per share. analysts predict that Tenneco Inc will post 7.46 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 22nd. Shareholders of record on Tuesday, June 5th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, June 4th. This represents a $1.00 annualized dividend and a yield of 2.21%. Tenneco’s dividend payout ratio is presently 14.51%.
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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