Tenneco Inc. (TEN) VP John E. Kunz Sells 11,602 Shares
Tenneco Inc. (NYSE:TEN) VP John E. Kunz sold 11,602 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $55.35, for a total value of $642,170.70. Following the completion of the transaction, the vice president now directly owns 31,915 shares in the company, valued at approximately $1,766,495.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Tenneco Inc. (TEN) traded up 0.77% on Thursday, hitting $56.59. The stock had a trading volume of 536,111 shares. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 11.01 and a beta of 1.79. The company has a 50 day moving average price of $54.06 and a 200-day moving average price of $58.17. Tenneco Inc. has a 52-week low of $51.09 and a 52-week high of $70.96.
Tenneco (NYSE:TEN) last issued its quarterly earnings data on Friday, July 28th. The auto parts company reported $1.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.10. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Tenneco had a return on equity of 54.06% and a net margin of 3.17%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 EPS. On average, equities research analysts predict that Tenneco Inc. will post $6.68 earnings per share for the current year.
The business also recently disclosed 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 1.77%. Tenneco’s dividend payout ratio (DPR) is presently 19.72%.
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A number of research analysts have weighed in on the company. BidaskClub raised Tenneco from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Jefferies Group LLC reissued a “hold” rating and issued a $62.00 target price (down previously from $67.00) on shares of Tenneco in a report on Monday, July 31st. ValuEngine downgraded Tenneco from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 22nd. Royal Bank Of Canada reissued a “hold” rating and issued a $71.00 target price on shares of Tenneco in a report on Thursday, July 6th. Finally, Morgan Stanley lowered their target price on Tenneco from $45.00 to $44.00 and set an “underweight” rating on the stock in a report on Friday, June 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $66.63.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC raised its holdings in Tenneco by 107.4% in the 2nd quarter. Advisory Services Network LLC now owns 2,184 shares of the auto parts company’s stock worth $126,000 after purchasing an additional 1,131 shares during the period. Gofen & Glossberg LLC IL raised its holdings in Tenneco by 0.5% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 7,125 shares of the auto parts company’s stock worth $412,000 after purchasing an additional 33 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Tenneco by 4.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 54,449 shares of the auto parts company’s stock worth $3,149,000 after purchasing an additional 2,173 shares during the period. Koch Industries Inc. acquired a new position in Tenneco in the 2nd quarter worth about $384,000. Finally, Ameritas Investment Partners Inc. raised its holdings in Tenneco by 4.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,688 shares of the auto parts company’s stock worth $271,000 after purchasing an additional 192 shares during the period. 96.72% of the stock is owned by institutional investors.
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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