SG Americas Securities LLC Purchases Shares of 11,937 Tenneco Inc. (TEN)
SG Americas Securities LLC purchased a new position in shares of Tenneco Inc. (NYSE:TEN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 11,937 shares of the company’s stock, valued at approximately $696,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Columbia Wanger Asset Management LLC increased its stake in Tenneco by 18.4% in the second quarter. Columbia Wanger Asset Management LLC now owns 1,258,953 shares of the company’s stock worth $58,680,000 after buying an additional 195,633 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Tenneco by 3,771.2% in the third quarter. Bank of Montreal Can now owns 190,732 shares of the company’s stock worth $11,114,000 after buying an additional 185,805 shares during the period. Prudential Financial Inc. boosted its position in shares of Tenneco by 89.8% in the third quarter. Prudential Financial Inc. now owns 365,256 shares of the company’s stock worth $21,284,000 after buying an additional 172,780 shares during the period. Alliancebernstein L.P. boosted its position 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 worth $70,266,000 after buying an additional 153,870 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Tenneco by 8.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,569,170 shares of the company’s stock worth $73,139,000 after buying an additional 118,469 shares during the period. Institutional investors and hedge funds own 96.96% of the company’s stock.
Tenneco Inc. (NYSE:TEN) traded up 0.47% during mid-day trading on Friday, hitting $65.75. The company had a trading volume of 300,955 shares. The stock has a 50 day moving average price of $63.59 and a 200-day moving average price of $56.88. The stock has a market capitalization of $3.62 billion, a PE ratio of 9.62 and a beta of 1.92. Tenneco Inc. has a 1-year low of $34.45 and a 1-year high of $67.72.
Tenneco (NYSE:TEN) last released its quarterly earnings data on Friday, October 28th. The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.04. The firm earned $2.10 billion during the quarter, compared to the consensus estimate of $1.40 billion. Tenneco had a net margin of 4.61% and a return on equity of 58.26%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.22 earnings per share. On average, analysts forecast that Tenneco Inc. will post $5.91 earnings per share for the current year.
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A number of research analysts have recently issued reports on the company. Barclays PLC raised their price objective on Tenneco from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday. RBC Capital Markets reaffirmed a “hold” rating and set a $67.00 price objective on shares of Tenneco in a research note on Tuesday, January 3rd. Finally, Jefferies Group assumed coverage on Tenneco in a research note on Wednesday, November 30th. They set a “hold” rating and a $62.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $63.06.
In other Tenneco news, insider Josep Fornos sold 21,077 shares of the firm’s stock in a transaction on Friday, December 9th. The stock was sold at an average price of $66.39, for a total value of $1,399,302.03. Following the sale, the insider now directly owns 37,158 shares in the company, valued at $2,466,919.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.30% of the stock is owned by company insiders.
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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