Macquarie Group Ltd. lessened its holdings in shares of Tenneco Inc (NYSE:TEN) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,890,552 shares of the auto parts company’s stock after selling 269,342 shares during the quarter. Macquarie Group Ltd.’s holdings in Tenneco were worth $51,782,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. bought a new position in shares of Tenneco in the fourth quarter valued at approximately $27,000. Oppenheimer Asset Management Inc. acquired a new stake in Tenneco during the fourth quarter worth $51,000. Resources Investment Advisors Inc. boosted its stake in Tenneco by 621.3% during the fourth quarter. Resources Investment Advisors Inc. now owns 2,164 shares of the auto parts company’s stock worth $59,000 after buying an additional 1,864 shares in the last quarter. Vident Investment Advisory LLC acquired a new stake in Tenneco during the third quarter worth $226,000. Finally, Virtu Financial LLC acquired a new stake in Tenneco during the third quarter worth $266,000. 90.43% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Tenneco stock traded up $0.30 during trading on Thursday, reaching $22.09. The company’s stock had a trading volume of 2,800 shares, compared to its average volume of 1,090,689. The company has a quick ratio of 0.89, a current ratio of 1.41 and a debt-to-equity ratio of 2.79. Tenneco Inc has a one year low of $21.55 and a one year high of $60.20. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 3.57, a P/E/G ratio of 0.50 and a beta of 2.04.

Tenneco (NYSE:TEN) last released its quarterly earnings results on Thursday, March 14th. The auto parts company reported $1.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.46 by ($0.16). The business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.27 billion. Tenneco had a net margin of 0.50% and a return on equity of 34.88%. The business’s quarterly revenue was up 78.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.89 earnings per share. As a group, sell-side analysts anticipate that Tenneco Inc will post 5.55 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.53%. Tenneco’s dividend payout ratio (DPR) is presently 15.92%.

A number of equities research analysts have weighed in on TEN shares. KeyCorp started coverage on shares of Tenneco in a research note on Monday, December 10th. They set a “sector weight” rating on the stock. Deutsche Bank started coverage on shares of Tenneco in a research note on Thursday, December 13th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $34.00 price target on shares of Tenneco in a research note on Wednesday, December 19th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.00.

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About Tenneco

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.

Further Reading: Quiet Period

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Institutional Ownership by Quarter for Tenneco (NYSE:TEN)

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