Tenneco (TEN) Hits New 52-Week Low at $31.02

Tenneco Inc (NYSE:TEN) reached a new 52-week low on Thursday . The stock traded as low as $31.02 and last traded at $31.66, with a volume of 329020 shares. The stock had previously closed at $31.78.

TEN has been the subject of several recent analyst reports. Wells Fargo & Co cut their target price on Tenneco from $45.00 to $41.00 and set a “market perform” rating for the company in a research note on Monday, October 29th. Royal Bank of Canada cut their target price on Tenneco to $47.00 and set an “underperform” rating for the company in a research note on Thursday, October 4th. Morgan Stanley cut their target price on Tenneco from $41.00 to $40.00 and set a “hold” rating for the company in a research note on Monday, August 13th. Finally, Wolfe Research initiated coverage on Tenneco in a research note on Tuesday, October 2nd. They set a “peer perform” rating for the company. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $55.00.

The company has a debt-to-equity ratio of 1.68, a current ratio of 1.18 and a quick ratio of 0.79. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 4.38, a price-to-earnings-growth ratio of 0.44 and a beta of 1.82.

Tenneco (NYSE:TEN) last released its earnings results on Friday, October 26th. The auto parts company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.20. Tenneco had a return on equity of 47.05% and a net margin of 2.39%. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the prior year, the company earned $1.67 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities analysts forecast that Tenneco Inc will post 6.57 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Tuesday, December 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 3rd. This represents a $1.00 annualized dividend and a dividend yield of 3.32%. Tenneco’s dividend payout ratio (DPR) is presently 14.51%.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Tenneco by 3.0% during the third quarter. Vanguard Group Inc. now owns 4,607,555 shares of the auto parts company’s stock worth $194,162,000 after buying an additional 132,904 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Tenneco by 67.3% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 3,000,997 shares of the auto parts company’s stock worth $126,462,000 after buying an additional 1,207,636 shares in the last quarter. Lyrical Asset Management LP increased its holdings in shares of Tenneco by 1.4% during the third quarter. Lyrical Asset Management LP now owns 2,581,240 shares of the auto parts company’s stock worth $108,773,000 after buying an additional 34,673 shares in the last quarter. Macquarie Group Ltd. increased its holdings in shares of Tenneco by 11.3% during the third quarter. Macquarie Group Ltd. now owns 2,159,894 shares of the auto parts company’s stock worth $91,018,000 after buying an additional 218,653 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Tenneco by 4.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,474,366 shares of the auto parts company’s stock worth $62,130,000 after buying an additional 68,511 shares in the last quarter. Institutional investors own 78.15% of the company’s stock.

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Tenneco Company Profile (NYSE:TEN)

Tenneco Inc designs, manufactures, and distributes clean air and ride performance products and systems for light vehicle, commercial truck, off-highway, and other vehicle applications worldwide. The company offers various vehicle emission control products and systems, including catalytic converters and diesel oxidation catalysts, diesel particulate filters, burner systems, lean nitrogen oxide (NOx) traps, hydrocarbon vaporizers and injectors, selective catalytic reduction (SCR) systems, SCR-coated diesel particulate filters systems, urea dosing systems, four-way catalysts, alternative NOx reduction technologies, mufflers and resonators, fabricated exhaust manifolds, pipes, hydroformed assemblies, elastomeric hangers and isolators, and after treatment control units.

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