Gofen & Glossberg LLC IL Buys 33 Shares of Tenneco Inc. (TEN)
Gofen & Glossberg LLC IL increased its stake in Tenneco Inc. (NYSE:TEN) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,125 shares of the auto parts company’s stock after purchasing an additional 33 shares during the period. Gofen & Glossberg LLC IL’s holdings in Tenneco were worth $412,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Telemus Capital LLC lifted its holdings in shares of Tenneco by 13.6% in the 2nd quarter. Telemus Capital LLC now owns 3,994 shares of the auto parts company’s stock worth $231,000 after purchasing an additional 477 shares during the last quarter. Cim Investment Mangement Inc. bought a new stake in shares of Tenneco in the 2nd quarter worth approximately $270,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Tenneco by 4.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,688 shares of the auto parts company’s stock worth $271,000 after purchasing an additional 192 shares during the last quarter. Ramsey Quantitative Systems bought a new stake in shares of Tenneco in the 2nd quarter worth approximately $285,000. Finally, Tudor Investment Corp ET AL bought a new stake in Tenneco during the 1st quarter valued at $287,000. 94.20% of the stock is currently owned by institutional investors and hedge funds.
Tenneco Inc. (TEN) traded down 1.07% during mid-day trading on Tuesday, hitting $61.95. The stock had a trading volume of 134,043 shares. Tenneco Inc. has a 1-year low of $51.09 and a 1-year high of $70.96. The firm has a market cap of $3.30 billion, a P/E ratio of 12.05 and a beta of 1.85. The stock has a 50 day moving average of $58.23 and a 200-day moving average of $57.45.
Tenneco (NYSE:TEN) last posted its quarterly earnings data on Friday, July 28th. The auto parts company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.10. Tenneco had a return on equity of 54.06% and a net margin of 3.17%. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the business earned $1.78 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts predict that Tenneco Inc. will post $6.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Monday, December 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Friday, December 1st. Tenneco’s dividend payout ratio (DPR) is currently 19.72%.
In other news, VP John E. Kunz sold 6,368 shares of the stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $61.00, for a total value of $388,448.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gregg M. Sherrill sold 27,443 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $54.67, for a total value of $1,500,308.81. Following the completion of the transaction, the insider now directly owns 229,043 shares in the company, valued at approximately $12,521,780.81. The disclosure for this sale can be found here. In the last three months, insiders sold 82,261 shares of company stock worth $4,654,484. 2.70% of the stock is currently owned by company insiders.
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Several brokerages have weighed in on TEN. BidaskClub raised Tenneco from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Guggenheim began coverage on Tenneco in a research note on Wednesday, June 21st. They set a “buy” rating and a $68.00 target price on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and set a $71.00 target price on shares of Tenneco in a research note on Thursday, July 6th. Jefferies Group LLC reaffirmed a “hold” rating and set a $62.00 target price (down previously from $67.00) on shares of Tenneco in a research note on Monday, July 31st. Finally, ValuEngine downgraded Tenneco from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $66.63.
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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