SG Americas Securities LLC Acquires 5,159 Shares of Tenneco Inc. (TEN)
SG Americas Securities LLC raised its holdings in shares of Tenneco Inc. (NYSE:TEN) by 276.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,025 shares of the auto parts company’s stock after acquiring an additional 5,159 shares during the quarter. SG Americas Securities LLC’s holdings in Tenneco were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Voya Investment Management LLC boosted its stake in shares of Tenneco by 10.8% during the 2nd quarter. Voya Investment Management LLC now owns 24,308 shares of the auto parts company’s stock worth $1,406,000 after purchasing an additional 2,365 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Tenneco by 9.1% during the 2nd quarter. First Trust Advisors LP now owns 49,706 shares of the auto parts company’s stock worth $2,874,000 after purchasing an additional 4,166 shares during the last quarter. LSV Asset Management boosted its stake in shares of Tenneco by 20.5% during the 2nd quarter. LSV Asset Management now owns 368,054 shares of the auto parts company’s stock worth $21,284,000 after purchasing an additional 62,700 shares during the last quarter. Chicago Equity Partners LLC boosted its stake in shares of Tenneco by 54.3% during the 2nd quarter. Chicago Equity Partners LLC now owns 54,660 shares of the auto parts company’s stock worth $3,161,000 after purchasing an additional 19,230 shares during the last quarter. Finally, Delta Lloyd Asset Management N.V. acquired a new stake in shares of Tenneco during the 2nd quarter worth about $4,626,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.
In related news, VP John E. Kunz sold 6,368 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $61.00, for a total value of $388,448.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John E. Kunz sold 11,500 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $59.00, for a total transaction of $678,500.00. Following the completion of the sale, the vice president now directly owns 6,368 shares in the company, valued at $375,712. The disclosure for this sale can be found here. Insiders sold 19,878 shares of company stock worth $1,183,528 over the last three months. Corporate insiders own 2.70% of the company’s stock.
Tenneco Inc. (TEN) traded up $0.34 on Thursday, hitting $57.51. 395,400 shares of the company traded hands, compared to its average volume of 551,524. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.33 and a quick ratio of 0.93. Tenneco Inc. has a twelve month low of $51.54 and a twelve month high of $70.96. The firm has a market capitalization of $2,949.32, a PE ratio of 8.44, a PEG ratio of 0.68 and a beta of 1.92.
Tenneco (NYSE:TEN) last released its earnings results on Friday, October 27th. The auto parts company reported $1.67 earnings per share (EPS) 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 business had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the company earned $1.53 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. research analysts expect that Tenneco Inc. will post 6.72 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Monday, December 4th will be given a $0.25 dividend. The ex-dividend date is Friday, December 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.74%. Tenneco’s dividend payout ratio is presently 30.21%.
Several equities research analysts have issued reports on the stock. KeyCorp reaffirmed a “buy” rating and set a $80.00 price target (up 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 decreased 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 issued a hold rating and seven have issued a buy rating to the stock. Tenneco presently has an average rating of “Hold” and a consensus price target of $67.70.
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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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