James Investment Research Inc. boosted its stake in Tenneco Inc. (NYSE:TEN) by 32.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,513 shares of the auto parts company’s stock after buying an additional 8,652 shares during the period. James Investment Research Inc. owned about 0.07% of Tenneco worth $2,054,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its stake in shares of Tenneco by 13.4% in the first quarter. Janney Montgomery Scott LLC now owns 6,296 shares of the auto parts company’s stock worth $393,000 after buying an additional 744 shares during the period. Nationwide Fund Advisors raised its position in shares of Tenneco by 144.6% in the first quarter. Nationwide Fund Advisors now owns 132,569 shares of the auto parts company’s stock worth $8,275,000 after buying an additional 78,363 shares in the last quarter. Telemus Capital LLC purchased a new position in shares of Tenneco during the first quarter worth approximately $220,000. Howe & Rusling Inc. raised its position in shares of Tenneco by 6.8% in the first quarter. Howe & Rusling Inc. now owns 5,959 shares of the auto parts company’s stock worth $372,000 after buying an additional 377 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Tenneco during the first quarter worth approximately $437,000. 96.54% of the stock is owned by institutional investors.
Shares of Tenneco Inc. (NYSE TEN) traded up 0.47% on Friday, hitting $53.42. 488,675 shares of the stock traded hands. Tenneco Inc. has a 52 week low of $51.09 and a 52 week high of $70.96. The firm has a market capitalization of $2.84 billion, a PE ratio of 10.40 and a beta of 1.79. The firm’s 50 day moving average is $56.98 and its 200 day moving average is $60.30.
Tenneco (NYSE:TEN) last announced its quarterly earnings data on Friday, July 28th. The auto parts company reported $1.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.10. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.26 billion. Tenneco had a return on equity of 54.06% and a net margin of 3.17%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.78 earnings per share. On average, analysts expect that Tenneco Inc. will post $6.68 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 26th. Investors of record on Thursday, September 7th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $1.00 annualized dividend and a yield of 1.87%. Tenneco’s payout ratio is 19.72%.
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TEN has been the topic of several research reports. Jefferies Group LLC reiterated a “hold” rating and set a $67.00 price objective on shares of Tenneco in a research note on Tuesday, April 25th. Royal Bank Of Canada increased their price objective on shares of Tenneco from $67.00 to $71.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 2nd. ValuEngine cut shares of Tenneco from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Morgan Stanley decreased their target price on shares of Tenneco from $45.00 to $44.00 and set an “underweight” rating for the company in a research report on Friday, June 9th. Finally, Guggenheim began coverage on shares of Tenneco in a research report on Wednesday, June 21st. They issued a “buy” rating and a $68.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $66.22.
In related news, Director David B. Price, Jr. sold 4,893 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $57.82, for a total value of $282,913.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP John E. Kunz sold 4,243 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $59.75, for a total value of $253,519.25. Following the completion of the sale, the vice president now directly owns 30,373 shares in the company, valued at $1,814,786.75. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.
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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