Brandywine Global Investment Management LLC decreased its stake in Tenneco Inc (NYSE:TEN) by 12.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,214 shares of the auto parts company’s stock after selling 26,645 shares during the period. Brandywine Global Investment Management LLC owned 0.35% of Tenneco worth $10,667,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in TEN. Cerebellum GP LLC bought a new position in shares of Tenneco in the 4th quarter valued at about $129,000. Advisor Group Inc. grew its holdings in shares of Tenneco by 83.1% in the 3rd quarter. Advisor Group Inc. now owns 2,364 shares of the auto parts company’s stock valued at $143,000 after acquiring an additional 1,073 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Tenneco by 42.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,233 shares of the auto parts company’s stock valued at $189,000 after acquiring an additional 961 shares in the last quarter. Trilogy Capital Inc. bought a new position in shares of Tenneco in the 4th quarter valued at about $206,000. Finally, Boothbay Fund Management LLC bought a new position in shares of Tenneco in the 3rd quarter valued at about $223,000. Institutional investors own 94.15% of the company’s stock.
Tenneco Inc (TEN) opened at $55.45 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 0.85 and a debt-to-equity ratio of 1.83. The company has a market capitalization of $2,884.15, a PE ratio of 14.18, a P/E/G ratio of 0.60 and a beta of 1.91. Tenneco Inc has a 1-year low of $50.73 and a 1-year high of $67.93.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Tuesday, March 6th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 5th. This represents a $1.00 annualized dividend and a yield of 1.80%. Tenneco’s dividend payout ratio (DPR) is presently 25.58%.
Several equities analysts have recently weighed in on the company. Guggenheim set a $70.00 price objective on Tenneco and gave the company a “buy” rating in a report on Monday, February 12th. Barclays reiterated a “buy” rating and set a $74.00 price target on shares of Tenneco in a report on Tuesday, January 9th. Wells Fargo & Co reduced their price target on Tenneco from $64.00 to $60.00 and set a “market perform” rating for the company in a report on Monday, February 12th. Royal Bank of Canada reiterated a “hold” rating and set a $63.00 price target on shares of Tenneco in a report on Friday, February 9th. Finally, ValuEngine cut Tenneco from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $67.00.
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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