Alps Advisors Inc. reduced its position in shares of Tenneco Inc. (NYSE:TEN) by 6.8% during the second quarter, Holdings Channel reports. The institutional investor owned 8,166 shares of the company’s stock after selling 600 shares during the period. Alps Advisors Inc.’s holdings in Tenneco were worth $381,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. American Century Companies Inc. raised its stake in shares of Tenneco by 0.3% in the second quarter. American Century Companies Inc. now owns 324,208 shares of the company’s stock worth $15,111,000 after buying an additional 1,081 shares in the last quarter. Boston Advisors LLC raised its stake in shares of Tenneco by 15.2% in the second quarter. Boston Advisors LLC now owns 12,295 shares of the company’s stock worth $573,000 after buying an additional 1,620 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Tenneco during the second quarter worth approximately $230,000. New York State Teachers Retirement System purchased a new stake in shares of Tenneco during the second quarter worth approximately $177,000. Finally, Parametrica Management Ltd purchased a new stake in shares of Tenneco during the second quarter worth approximately $667,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.
Shares of Tenneco Inc. (NYSE:TEN) traded down 1.32% on Tuesday, hitting $56.90. The stock had a trading volume of 451,892 shares. Tenneco Inc. has a 12 month low of $34.45 and a 12 month high of $59.88. The stock has a market cap of $3.22 billion, a P/E ratio of 12.55 and a beta of 2.05. The firm has a 50 day moving average of $56.86 and a 200 day moving average of $53.07.
Tenneco (NYSE:TEN) last released its quarterly earnings results on Friday, July 29th. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.61 by $0.17. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.24 billion. Tenneco had a return on equity of 61.10% and a net margin of 3.13%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 earnings per share. On average, equities analysts forecast that Tenneco Inc. will post $5.89 earnings per share for the current fiscal year.
Several equities research analysts have commented on the company. Deutsche Bank AG upped 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 upgraded Tenneco from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research report on Tuesday, September 13th. Finally, Barclays PLC restated an “overweight” rating and issued a $58.00 price objective (down previously 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 issued a hold rating and four have issued a buy rating to the company’s stock. Tenneco presently has a consensus 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 Tenneco stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $55.86, for a total transaction of $1,675,800.00. Following the transaction, the director now owns 2,757 shares of the company’s stock, valued at $154,006.02. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Josep Fornos sold 11,030 shares of Tenneco stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $59.00, for a total value of $650,770.00. Following the transaction, the insider now directly owns 30,865 shares in the company, 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.
Want to see what other hedge funds are holding TEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tenneco Inc. (NYSE:TEN).
Receive News & Ratings for Tenneco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenneco Inc. and related companies with MarketBeat.com's FREE daily email newsletter.