Engineers Gate Manager LP increased its position in shares of Tenneco Inc (NYSE:TEN) by 181.2% in the 4th quarter, HoldingsChannel reports. The firm owned 35,516 shares of the auto parts company’s stock after purchasing an additional 22,886 shares during the period. Engineers Gate Manager LP’s holdings in Tenneco were worth $2,079,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of TEN. Advisory Services Network LLC raised its holdings in Tenneco by 107.4% during the second 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 in the last quarter. Cerebellum GP LLC purchased a new position in Tenneco during the fourth quarter worth about $129,000. Advisor Group Inc. raised its holdings in Tenneco by 83.1% during the third quarter. Advisor Group Inc. now owns 2,364 shares of the auto parts company’s stock worth $143,000 after purchasing an additional 1,073 shares in the last quarter. Fortaleza Asset Management Inc. raised its holdings in Tenneco by 122.5% during the third quarter. Fortaleza Asset Management Inc. now owns 2,670 shares of the auto parts company’s stock worth $162,000 after purchasing an additional 1,470 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tenneco by 42.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,233 shares of the auto parts company’s stock worth $189,000 after purchasing an additional 961 shares in the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.
In other Tenneco news, insider Peng Guo sold 5,558 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 87,957 shares of the company’s stock, valued at $5,074,239.33. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.70% of the company’s stock.
Several research analysts recently issued reports on TEN shares. KeyCorp reissued a “buy” rating and set a $80.00 price target (up from $73.00) on shares of Tenneco in a report on Monday, October 30th. They noted that the move was a valuation call. Wells Fargo & Co cut their price target on shares of Tenneco from $68.00 to $64.00 and set a “market perform” rating for the company in a report on Monday, October 30th. Royal Bank of Canada reissued a “hold” rating and set a $64.00 price target on shares of Tenneco in a report on Wednesday, December 20th. Barclays reissued a “buy” rating and set a $74.00 price target on shares of Tenneco in a report on Tuesday, January 9th. Finally, ValuEngine cut shares of Tenneco from a “buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $67.30.
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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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