Tenneco Inc. (TEN) Insider Josep Fornos Sells 11,030 Shares
Tenneco Inc. (NYSE:TEN) insider Josep Fornos sold 11,030 shares of the business’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $59.00, for a total value of $650,770.00. Following the transaction, the insider now owns 30,865 shares in the company, valued at approximately $1,821,035. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Tenneco Inc. (NYSE:TEN) opened at 57.30 on Friday. The stock has a market cap of $3.24 billion, a P/E ratio of 12.64 and a beta of 2.05. Tenneco Inc. has a 1-year low of $34.45 and a 1-year high of $59.88. The company has a 50 day moving average price of $56.82 and a 200 day moving average price of $52.98.
Tenneco (NYSE:TEN) last announced its quarterly earnings data on Friday, July 29th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.17. The business earned $2.20 billion during the quarter, compared to the consensus estimate of $2.24 billion. Tenneco had a net margin of 3.13% and a return on equity of 61.10%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.39 earnings per share. On average, equities analysts anticipate that Tenneco Inc. will post $5.89 EPS for the current year.
A number of research analysts have weighed in on TEN shares. Deutsche Bank AG upped their target price on Tenneco from $67.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, August 1st. Barclays PLC reiterated an “overweight” rating and set a $58.00 target price (down previously from $60.00) on shares of Tenneco in a report on Tuesday, July 19th. Finally, Zacks Investment Research upgraded Tenneco from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. Tenneco currently has a consensus rating of “Hold” and a consensus price target of $62.17.
A number of hedge funds have recently made changes to their positions in TEN. Scout Investments Inc. purchased a new stake in shares of Tenneco during the second quarter valued at about $14,533,000. 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 last quarter. Columbia Wanger Asset Management LLC increased its stake in shares of Tenneco by 18.4% in the second quarter. Columbia Wanger Asset Management LLC now owns 1,258,953 shares of the company’s stock valued at $58,680,000 after buying an additional 195,633 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Tenneco during the second quarter valued at about $8,164,000. Finally, Alliancebernstein L.P. increased its stake in shares of Tenneco by 11.4% in the second quarter. Alliancebernstein L.P. now owns 1,507,524 shares of the company’s stock valued at $70,266,000 after buying an additional 153,870 shares during the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.
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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