Tenneco Inc. (NYSE:TEN) issued its quarterly earnings data on Friday. The auto parts company reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.08, Bloomberg Earnings reports. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Tenneco had a return on equity of 54.06% and a net margin of 3.17%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the business earned $1.53 earnings per share.
Shares of Tenneco (NYSE:TEN) traded down 10.45% during mid-day trading on Friday, reaching $58.47. The company had a trading volume of 2,378,910 shares. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 11.38 and a beta of 1.85. The firm’s 50-day moving average price is $60.51 and its 200 day moving average price is $57.70. Tenneco has a 52-week low of $51.09 and a 52-week high of $70.96.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Monday, December 4th will be paid a $0.25 dividend. The ex-dividend date is Friday, December 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.71%. Tenneco’s dividend payout ratio (DPR) is presently 30.21%.
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In other Tenneco news, insider Gregg M. Sherrill sold 27,443 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $54.67, for a total value of $1,500,308.81. Following the completion of the transaction, the insider now directly owns 229,043 shares in the company, valued at $12,521,780.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John E. Kunz sold 6,368 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $61.00, for a total value of $388,448.00. The disclosure for this sale can be found here. Insiders sold 82,261 shares of company stock valued at $4,654,484 over the last quarter. Corporate insiders own 2.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC raised its position in Tenneco by 10.8% in the second quarter. Voya Investment Management LLC now owns 24,308 shares of the auto parts company’s stock valued at $1,406,000 after purchasing an additional 2,365 shares during the last quarter. First Trust Advisors LP raised its position in Tenneco by 9.1% in the second quarter. First Trust Advisors LP now owns 49,706 shares of the auto parts company’s stock valued at $2,874,000 after purchasing an additional 4,166 shares during the last quarter. LSV Asset Management raised its position in Tenneco by 20.5% in the second quarter. LSV Asset Management now owns 368,054 shares of the auto parts company’s stock valued at $21,284,000 after purchasing an additional 62,700 shares during the last quarter. Chicago Equity Partners LLC raised its position in Tenneco by 54.3% in the second quarter. Chicago Equity Partners LLC now owns 54,660 shares of the auto parts company’s stock valued at $3,161,000 after purchasing an additional 19,230 shares during the last quarter. Finally, Rational Advisors LLC acquired a new stake in shares of Tenneco in the second quarter valued at about $289,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.
A number of research analysts have issued reports on the company. BidaskClub raised Tenneco from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Royal Bank Of Canada reissued a “hold” rating and set a $71.00 price objective on shares of Tenneco in a report on Thursday, July 6th. Jefferies Group LLC reissued a “hold” rating and set a $62.00 price objective (down from $67.00) on shares of Tenneco in a report on Monday, July 31st. Finally, ValuEngine cut Tenneco from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Tenneco presently has a consensus rating of “Hold” and a consensus target price of $66.63.
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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