Nationwide Fund Advisors boosted its stake in shares of Tenneco Inc. (NYSE:TEN) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,534 shares of the company’s stock after buying an additional 1,157 shares during the period. Nationwide Fund Advisors owned 0.10% of Tenneco worth $2,635,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in TEN. 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 valued at $118,297,000 after buying an additional 34,700 shares during the period. State Street Corp increased its stake in shares of Tenneco by 0.8% in the first quarter. State Street Corp now owns 1,087,304 shares of the company’s stock valued at $56,006,000 after buying an additional 9,004 shares during the period. DNB Asset Management AS increased its stake in shares of Tenneco by 15.5% in the second quarter. DNB Asset Management AS now owns 1,008,471 shares of the company’s stock valued at $47,005,000 after buying an additional 135,115 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Tenneco by 60.2% in the first quarter. UBS Asset Management Americas Inc. now owns 753,085 shares of the company’s stock valued at $38,791,000 after buying an additional 282,939 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Tenneco by 1.2% in the first quarter. Franklin Resources Inc. now owns 667,677 shares of the company’s stock valued at $34,392,000 after buying an additional 7,710 shares during the period. Institutional investors own 91.99% of the company’s stock.
Shares of Tenneco Inc. (NYSE:TEN) traded up 1.78% on Monday, hitting $58.32. 41,602 shares of the company traded hands. The stock’s 50-day moving average price is $56.82 and its 200-day moving average price is $52.98. The company has a market capitalization of $3.30 billion, a PE ratio of 12.86 and a beta of 2.05. Tenneco Inc. has a 12 month low of $34.45 and a 12 month high of $59.88.
Tenneco (NYSE:TEN) last announced its earnings results on Friday, July 29th. The company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.17. Tenneco had a net margin of 3.13% and a return on equity of 61.10%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the firm earned $1.39 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts predict that Tenneco Inc. will post $5.89 earnings per share for the current year.
TEN has been the subject of several recent analyst reports. Deutsche Bank AG raised their target price on shares of Tenneco from $67.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, August 1st. Barclays PLC restated an “overweight” rating and issued a $58.00 target price (down from $60.00) on shares of Tenneco in a research note on Tuesday, July 19th. Finally, Zacks Investment Research raised shares of Tenneco from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a report on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $62.17.
In other Tenneco news, Director David B. Price, Jr. sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $55.86, for a total transaction of $1,675,800.00. Following the completion of the transaction, the director now owns 2,757 shares in the company, valued at approximately $154,006.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Josep Fornos sold 11,030 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $59.00, for a total transaction of $650,770.00. Following the transaction, the insider now owns 30,865 shares of the company’s stock, valued at approximately $1,821,035. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.
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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