D.A. Davidson & CO. increased its stake in shares of Tenneco Inc (NYSE:TEN) by 104.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,837 shares of the auto parts company’s stock after acquiring an additional 12,150 shares during the quarter. D.A. Davidson & CO.’s holdings in Tenneco were worth $1,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Advisory Services Network LLC grew its position in Tenneco by 107.4% during the 2nd quarter. Advisory Services Network LLC now owns 2,184 shares of the auto parts company’s stock worth $126,000 after acquiring an additional 1,131 shares during the last quarter. Cerebellum GP LLC purchased a new stake in Tenneco in the 4th quarter worth approximately $129,000. Advisor Group Inc. lifted its holdings in Tenneco by 83.1% in the 3rd quarter. Advisor Group Inc. now owns 2,364 shares of the auto parts company’s stock worth $143,000 after buying an additional 1,073 shares during the period. Fortaleza Asset Management Inc. lifted its holdings 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 worth $162,000 after buying an additional 1,470 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Tenneco by 42.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,233 shares of the auto parts company’s stock worth $189,000 after buying an additional 961 shares during the period. Institutional investors and hedge funds own 92.07% of the company’s stock.
Several research firms have weighed in on TEN. Guggenheim set a $70.00 price objective on Tenneco and gave the stock a “buy” rating in a report on Monday, February 12th. Royal Bank of Canada reiterated a “hold” rating and issued a $63.00 price objective on shares of Tenneco in a report on Friday, February 9th. Wells Fargo & Co dropped their price objective on Tenneco from $64.00 to $60.00 and set a “market perform” rating for the company in a report on Monday, February 12th. ValuEngine cut Tenneco from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Finally, Barclays reiterated a “buy” rating and issued a $74.00 price objective on shares of Tenneco in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $67.00.
Tenneco (NYSE:TEN) last released its earnings results on Friday, February 9th. The auto parts company reported $1.89 EPS for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.25. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Tenneco had a return on equity of 53.94% and a net margin of 2.22%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.67 EPS. analysts expect that Tenneco Inc will post 7.38 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Tuesday, March 6th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Monday, March 5th. Tenneco’s payout ratio is presently 25.58%.
In other news, insider Peng Guo sold 5,558 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was 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 owns 87,957 shares in the company, valued at approximately $5,074,239.33. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.70% of the company’s stock.
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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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