BlackRock Inc. lessened its holdings in Tenneco Inc (NYSE:TEN) by 14.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,417,824 shares of the auto parts company’s stock after selling 736,281 shares during the quarter. BlackRock Inc. owned about 0.09% of Tenneco worth $194,209,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Wells Fargo & Company MN boosted its stake in Tenneco by 39.3% during the 1st quarter. Wells Fargo & Company MN now owns 466,479 shares of the auto parts company’s stock worth $25,596,000 after acquiring an additional 131,501 shares during the last quarter. SG Americas Securities LLC bought a new position in Tenneco during the 1st quarter worth approximately $254,000. Schwab Charles Investment Management Inc. boosted its stake in Tenneco by 6.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 384,489 shares of the auto parts company’s stock worth $21,097,000 after acquiring an additional 22,354 shares during the last quarter. Stevens Capital Management LP bought a new position in Tenneco during the 1st quarter worth approximately $220,000. Finally, US Bancorp DE boosted its stake in Tenneco by 44.2% during the 1st quarter. US Bancorp DE now owns 3,731 shares of the auto parts company’s stock worth $204,000 after acquiring an additional 1,144 shares during the last quarter. Hedge funds and other institutional investors own 89.69% of the company’s stock.

Shares of TEN opened at $44.59 on Tuesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.85 and a current ratio of 1.22. Tenneco Inc has a twelve month low of $41.26 and a twelve month high of $65.59. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 6.47, a P/E/G ratio of 0.61 and a beta of 1.80.

Tenneco (NYSE:TEN) last announced its quarterly earnings results on Friday, July 27th. The auto parts company reported $1.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.00 by ($0.08). Tenneco had a net margin of 2.59% and a return on equity of 48.44%. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the firm posted $1.90 EPS. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. analysts anticipate that Tenneco Inc will post 6.81 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Tuesday, September 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Friday, August 31st. Tenneco’s payout ratio is currently 14.51%.

In related news, Director Thomas C. Freyman purchased 5,000 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were purchased at an average price of $44.49 per share, with a total value of $222,450.00. Following the completion of the purchase, the director now owns 22,265 shares in the company, valued at approximately $990,569.85. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.95% of the company’s stock.

Several research analysts recently weighed in on the stock. ValuEngine lowered shares of Tenneco from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 2nd. Morgan Stanley reduced their price objective on shares of Tenneco from $41.00 to $40.00 and set a “hold” rating on the stock in a research note on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $63.75.

Tenneco Company Profile

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.

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Institutional Ownership by Quarter for Tenneco (NYSE:TEN)

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