First Citizens Bank & Trust Co. cut its position in Tenneco Inc. (NYSE:TEN) by 9.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,921 shares of the company’s stock after selling 952 shares during the period. First Citizens Bank & Trust Co.’s holdings in Tenneco were worth $416,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. HBK Investments L P increased its stake in shares of Tenneco by 338.8% in the first quarter. HBK Investments L P now owns 90,400 shares of the company’s stock worth $4,657,000 after buying an additional 69,800 shares during the period. Bogle Investment Management L P DE acquired a new stake in shares of Tenneco during the first quarter worth about $3,461,000. Wellington Management Group LLP increased its stake in shares of Tenneco by 1.5% in the first quarter. Wellington Management Group LLP now owns 2,296,595 shares of the company’s stock worth $118,297,000 after buying an additional 34,700 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Tenneco by 12.0% in the first quarter. Geode Capital Management LLC now owns 526,060 shares of the company’s stock worth $27,097,000 after buying an additional 56,348 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Tenneco during the first quarter worth about $579,000. 92.05% of the stock is owned by institutional investors and hedge funds.
Shares of Tenneco Inc. (NYSE:TEN) traded down 1.39% during trading on Monday, hitting $54.63. The stock had a trading volume of 546,769 shares. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 12.05 and a beta of 2.05. The stock has a 50-day moving average of $56.80 and a 200 day moving average of $53.23. Tenneco Inc. has a 12-month low of $34.45 and a 12-month high of $59.88.
Tenneco (NYSE:TEN) last announced its quarterly earnings results on Friday, July 29th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.17. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. Tenneco had a return on equity of 61.10% and a net margin of 3.13%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $1.39 EPS. On average, analysts predict that Tenneco Inc. will post $5.89 earnings per share for the current fiscal year.
A number of analysts recently issued reports on the company. Deutsche Bank AG raised their price objective on Tenneco from $67.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, August 1st. Zacks Investment Research raised Tenneco from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Tuesday, September 13th. Finally, Barclays PLC reissued an “overweight” rating and set a $58.00 price objective (down from $60.00) on shares of Tenneco in a research report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $62.17.
In other Tenneco news, VP John E. Kunz sold 4,322 shares of Tenneco stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $56.96, for a total transaction of $246,181.12. Following the sale, the vice president now owns 32,523 shares of the company’s stock, valued at approximately $1,852,510.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David B. Price, Jr. sold 30,000 shares of Tenneco stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $55.86, for a total value of $1,675,800.00. Following the sale, the director now directly owns 2,757 shares in the company, valued at approximately $154,006.02. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.
Tenneco Company Profile
Tenneco Inc (Tenneco) 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 operates in six segments: North America Clean Air; North America Ride Performance; Europe, South America and India Clean Air; Europe, South America and India Ride Performance; Asia Pacific Clean Air, and Asia Pacific Ride Performance.
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