3,936 Shares in Tenneco Inc. (TEN) Acquired by Commonwealth Equity Services Inc
Commonwealth Equity Services Inc purchased a new stake in Tenneco Inc. (NYSE:TEN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,936 shares of the auto parts company’s stock, valued at approximately $238,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. increased its position in Tenneco by 13.3% in the 2nd quarter. BlackRock Inc. now owns 4,826,451 shares of the auto parts company’s stock valued at $279,112,000 after acquiring an additional 567,330 shares during the period. AJO LP increased its position in Tenneco by 396.8% in the 2nd quarter. AJO LP now owns 1,875,899 shares of the auto parts company’s stock valued at $108,483,000 after acquiring an additional 1,498,310 shares during the period. Macquarie Group Ltd. increased its position in Tenneco by 9.7% in the 2nd quarter. Macquarie Group Ltd. now owns 1,464,260 shares of the auto parts company’s stock valued at $84,678,000 after acquiring an additional 129,641 shares during the period. Dimensional Fund Advisors LP increased its position in Tenneco by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,280,102 shares of the auto parts company’s stock valued at $74,027,000 after acquiring an additional 39,520 shares during the period. Finally, State Street Corp increased its position in Tenneco by 1.1% in the 2nd quarter. State Street Corp now owns 1,104,977 shares of the auto parts company’s stock valued at $63,899,000 after acquiring an additional 12,291 shares during the period. Hedge funds and other institutional investors own 94.99% of the company’s stock.
Several equities analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Tenneco from $68.00 to $64.00 and set a “market perform” rating for the company in a research report on Monday, October 30th. KeyCorp restated a “buy” rating and issued a $80.00 price target (up from $73.00) on shares of Tenneco in a research report on Monday, October 30th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $67.70.
In related news, insider James D. Harrington sold 13,765 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $56.87, for a total transaction of $782,815.55. Following the transaction, the insider now directly owns 1,207 shares of the company’s stock, valued at $68,642.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP John E. Kunz sold 2,010 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $58.00, for a total transaction of $116,580.00. Following the transaction, the vice president now directly owns 17,868 shares in the company, valued at $1,036,344. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,818 shares of company stock valued at $3,154,175. 2.70% of the stock is currently owned by corporate insiders.
Tenneco Inc. (NYSE TEN) traded down $0.38 on Tuesday, hitting $58.07. 359,700 shares of the stock traded hands, compared to its average volume of 557,579. Tenneco Inc. has a 52 week low of $51.54 and a 52 week high of $70.96. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.93 and a current ratio of 1.33. The firm has a market capitalization of $3,015.35, a PE ratio of 8.63, a PEG ratio of 0.69 and a beta of 1.92.
Tenneco (NYSE:TEN) last posted its quarterly earnings data on Friday, October 27th. The auto parts company reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.08. Tenneco had a net margin of 1.97% and a return on equity of 54.13%. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the company posted $1.53 earnings per share. Tenneco’s revenue for the quarter was up 8.5% compared to the same quarter last year. equities research analysts anticipate that Tenneco Inc. will post 6.72 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Monday, December 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Friday, December 1st. Tenneco’s dividend payout ratio (DPR) is presently 30.21%.
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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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