Tenneco Inc. (TEN) Shares Bought by Russell Investments Group Ltd.
Russell Investments Group Ltd. raised its position in Tenneco Inc. (NYSE:TEN) by 35.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,170 shares of the auto parts company’s stock after buying an additional 51,141 shares during the period. Russell Investments Group Ltd.’s holdings in Tenneco were worth $11,402,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in TEN. HGK Asset Management Inc. raised its position in shares of Tenneco by 0.3% in the first quarter. HGK Asset Management Inc. now owns 12,095 shares of the auto parts company’s stock worth $755,000 after buying an additional 31 shares in the last quarter. Prescott Group Capital Management L.L.C. raised its position in shares of Tenneco by 0.3% in the first quarter. Prescott Group Capital Management L.L.C. now owns 20,649 shares of the auto parts company’s stock worth $1,289,000 after buying an additional 52 shares in the last quarter. Quantbot Technologies LP raised its position in shares of Tenneco by 8.4% in the first quarter. Quantbot Technologies LP now owns 2,410 shares of the auto parts company’s stock worth $150,000 after buying an additional 187 shares in the last quarter. Legal & General Group Plc raised its position in shares of Tenneco by 0.4% in the first quarter. Legal & General Group Plc now owns 63,003 shares of the auto parts company’s stock worth $3,936,000 after buying an additional 264 shares in the last quarter. Finally, Chicago Equity Partners LLC raised its position in shares of Tenneco by 0.8% in the first quarter. Chicago Equity Partners LLC now owns 35,430 shares of the auto parts company’s stock worth $2,212,000 after buying an additional 290 shares in the last quarter. Institutional investors and hedge funds own 94.86% of the company’s stock.
Shares of Tenneco Inc. (NYSE:TEN) traded up 0.421% during trading on Monday, hitting $53.645. The stock had a trading volume of 191,531 shares. Tenneco Inc. has a 12 month low of $51.09 and a 12 month high of $70.96. The company has a market cap of $2.85 billion, a PE ratio of 10.439 and a beta of 1.79. The stock has a 50 day moving average of $56.98 and a 200 day moving average of $60.30.
Tenneco (NYSE:TEN) last issued its earnings results on Friday, July 28th. The auto parts company reported $1.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $2.26 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that Tenneco Inc. will post $6.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 26th. Stockholders of record on Thursday, September 7th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. Tenneco’s dividend payout ratio (DPR) is 19.72%.
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A number of equities analysts have weighed in on the company. Jefferies Group LLC restated a “hold” rating and issued a $62.00 target price (down from $67.00) on shares of Tenneco in a research note on Monday, July 31st. Royal Bank Of Canada upped their target price on Tenneco from $67.00 to $71.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 2nd. CLSA assumed coverage on Tenneco in a research note on Wednesday, June 21st. They issued a “buy” rating and a $68.00 target price on the stock. ValuEngine upgraded Tenneco from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Finally, Guggenheim assumed coverage on Tenneco in a research note on Wednesday, June 21st. They issued a “buy” rating and a $68.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Tenneco presently has an average rating of “Buy” and an average price target of $66.22.
In other news, VP John E. Kunz sold 4,243 shares of Tenneco stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $59.75, for a total value of $253,519.25. Following the sale, the vice president now directly owns 30,373 shares of the company’s stock, valued at $1,814,786.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David B. Price, Jr. sold 4,893 shares of Tenneco stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $57.82, for a total value of $282,913.26. The disclosure for this sale can be found here. 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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