Dimensional Fund Advisors LP lifted its holdings in Tenneco Inc. (NYSE:TEN) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,293,032 shares of the auto parts company’s stock after purchasing an additional 12,930 shares during the quarter. Dimensional Fund Advisors LP owned about 2.51% of Tenneco worth $78,449,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of TEN. Advisory Services Network LLC lifted its stake 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 valued at $126,000 after acquiring an additional 1,131 shares in the last quarter. Advisor Group Inc. lifted its stake in 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. Fortaleza Asset Management Inc. lifted its stake in Tenneco by 122.5% in the 3rd quarter. Fortaleza Asset Management Inc. now owns 2,670 shares of the auto parts company’s stock valued at $162,000 after acquiring an additional 1,470 shares in the last quarter. Commonwealth Equity Services Inc bought a new stake in Tenneco in the 3rd quarter valued at approximately $238,000. Finally, Cim Investment Mangement Inc. bought a new stake in Tenneco in the 2nd quarter valued at approximately $270,000. Institutional investors and hedge funds own 94.42% of the company’s stock.
In related news, VP John E. Kunz sold 6,368 shares of the stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $61.00, for a total value of $388,448.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Peng Guo sold 5,558 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $57.69, for a total value of $320,641.02. Following the completion of the sale, the insider now owns 87,957 shares in the company, valued at approximately $5,074,239.33. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.
Tenneco (NYSE:TEN) last announced its quarterly earnings data on Friday, October 27th. The auto parts company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.08. Tenneco had a return on equity of 54.13% and a net margin of 1.97%. The company had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the business posted $1.53 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. research analysts forecast that Tenneco Inc. will post 6.72 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Monday, December 4th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Friday, December 1st. Tenneco’s dividend payout ratio is currently 31.06%.
Several research firms have commented on TEN. Royal Bank of Canada restated a “hold” rating and issued a $64.00 target price on shares of Tenneco in a research note on Wednesday, December 20th. KeyCorp restated a “buy” rating and issued a $80.00 target price (up previously from $73.00) on shares of Tenneco in a research note on Monday, October 30th. They noted that the move was a valuation call. Finally, Wells Fargo & Co cut their target price on Tenneco from $68.00 to $64.00 and set a “market perform” rating on the stock in a research note on Monday, October 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $67.00.
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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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