Tenneco Inc (NYSE:TEN) SVP Acquires $189,600.00 in Stock

Tenneco Inc (NYSE:TEN) SVP Brandon B. Smith acquired 20,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was bought at an average price of $9.48 per share, for a total transaction of $189,600.00. Following the purchase, the senior vice president now owns 25,129 shares in the company, valued at approximately $238,222.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of TEN traded up $0.50 during mid-day trading on Monday, hitting $10.04. 1,641,979 shares of the company’s stock were exchanged, compared to its average volume of 1,695,402. The company has a current ratio of 1.39, a quick ratio of 0.85 and a debt-to-equity ratio of 2.99. The firm’s fifty day simple moving average is $9.64. The firm has a market capitalization of $544.42 million, a PE ratio of 1.60 and a beta of 2.34. Tenneco Inc has a twelve month low of $7.62 and a twelve month high of $47.22.

Tenneco (NYSE:TEN) last posted its quarterly earnings data on Tuesday, August 6th. The auto parts company reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.27. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.47 billion. Tenneco had a negative net margin of 0.90% and a positive return on equity of 20.87%. Tenneco’s quarterly revenue was up 76.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.92 EPS. As a group, equities research analysts forecast that Tenneco Inc will post 4.05 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Private Management Group Inc. boosted its holdings in Tenneco by 8.4% in the 1st quarter. Private Management Group Inc. now owns 653,983 shares of the auto parts company’s stock valued at $14,492,000 after purchasing an additional 50,583 shares during the period. GAM Holding AG raised its stake in shares of Tenneco by 52.9% in the 1st quarter. GAM Holding AG now owns 25,732 shares of the auto parts company’s stock valued at $570,000 after buying an additional 8,901 shares in the last quarter. Bailard Inc. acquired a new position in shares of Tenneco in the 1st quarter valued at $266,000. Bartlett & Co. LLC acquired a new position in shares of Tenneco in the 1st quarter valued at $44,000. Finally, FMR LLC raised its stake in shares of Tenneco by 38.2% in the 4th quarter. FMR LLC now owns 153,554 shares of the auto parts company’s stock valued at $4,206,000 after buying an additional 42,406 shares in the last quarter. 89.98% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently commented on TEN shares. UBS Group dropped their price target on shares of Tenneco from $28.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Morgan Stanley set a $9.00 price target on shares of Tenneco and gave the stock a “sell” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Tenneco currently has a consensus rating of “Hold” and an average target price of $24.25.

About Tenneco

Tenneco Inc designs, manufactures, and sells clean air, powertrain, and ride performance products and systems for light vehicle, commercial truck, off-highway, industrial, and aftermarket customers worldwide. The company offers clean air 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 aftertreatment control units.

Further Reading: How a Back-End Load Mutual Fund Works

Receive News & Ratings for Tenneco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenneco and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit