Schwab Charles Investment Management Inc. Has $20.03 Million Stake in Tenneco Inc. (TEN)
Schwab Charles Investment Management Inc. lifted its position in Tenneco Inc. (NYSE:TEN) by 4.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 330,211 shares of the auto parts company’s stock after acquiring an additional 12,587 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.64% of Tenneco worth $20,034,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Evanston Investments Inc. dba Evanston Advisors increased its stake in Tenneco by 5.0% in the 3rd quarter. Evanston Investments Inc. dba Evanston Advisors now owns 51,334 shares of the auto parts company’s stock worth $3,114,000 after buying an additional 2,431 shares during the period. Trexquant Investment LP purchased a new position in Tenneco in the 3rd quarter worth about $546,000. Legal & General Group Plc increased its stake in Tenneco by 6.2% in the 3rd quarter. Legal & General Group Plc now owns 66,546 shares of the auto parts company’s stock worth $4,034,000 after buying an additional 3,872 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in Tenneco by 3.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 28,130 shares of the auto parts company’s stock worth $1,707,000 after buying an additional 1,037 shares during the period. Finally, American International Group Inc. increased its stake in Tenneco by 8.1% in the 3rd quarter. American International Group Inc. now owns 35,804 shares of the auto parts company’s stock worth $2,172,000 after buying an additional 2,677 shares during the period. Hedge funds and other institutional investors own 94.99% of the company’s stock.
Tenneco Inc. (NYSE TEN) opened at $58.07 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 0.93 and a debt-to-equity ratio of 2.29. The company has a market cap of $2,940.00, a PE ratio of 8.41, a price-to-earnings-growth ratio of 0.67 and a beta of 1.91. Tenneco Inc. has a 12-month low of $51.54 and a 12-month high of $70.96.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Monday, December 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Friday, December 1st. Tenneco’s dividend payout ratio (DPR) is 31.06%.
Several research analysts recently commented on TEN shares. KeyCorp reaffirmed a “buy” rating and issued a $80.00 price target (up previously from $73.00) on shares of Tenneco in a research note on Monday, October 30th. They noted that the move was a valuation call. Wells Fargo & Company reduced their price target on shares of Tenneco from $68.00 to $64.00 and set a “market perform” rating on the stock in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $67.70.
In other Tenneco news, VP John E. Kunz sold 11,500 shares of the firm’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $59.00, for a total transaction of $678,500.00. Following the transaction, the vice president now owns 6,368 shares of the company’s stock, valued at approximately $375,712. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John E. Kunz sold 6,368 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $61.00, for a total transaction of $388,448.00. The disclosure for this sale can be found here. Insiders have sold a total of 25,436 shares of company stock worth $1,504,169 in the last three months. Insiders own 2.70% of the company’s stock.
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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