State of Tennessee Treasury Department Continues to Hold Stake in Tenneco Inc. (TEN)
State of Tennessee Treasury Department continued to hold its position in shares of Tenneco Inc. (NYSE:TEN) during the third quarter, Holdings Channel reports. The firm owned 37,100 shares of the company’s stock at the end of the third quarter. State of Tennessee Treasury Department owned 0.07% of Tenneco worth $2,162,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in TEN. Horrell Capital Management Inc. raised its position in shares of Tenneco by 0.5% in the third quarter. Horrell Capital Management Inc. now owns 26,990 shares of the company’s stock worth $1,573,000 after buying an additional 128 shares during the period. Globeflex Capital L P raised its position in shares of Tenneco by 0.4% in the second quarter. Globeflex Capital L P now owns 41,263 shares of the company’s stock worth $1,923,000 after buying an additional 169 shares during the period. Scotia Capital Inc. raised its position in shares of Tenneco by 1.1% in the second quarter. Scotia Capital Inc. now owns 17,383 shares of the company’s stock worth $813,000 after buying an additional 195 shares during the period. Whittier Trust Co. raised its position in shares of Tenneco by 1.2% in the second quarter. Whittier Trust Co. now owns 19,276 shares of the company’s stock worth $898,000 after buying an additional 223 shares during the period. Finally, Aperio Group LLC raised its position in shares of Tenneco by 1.2% in the third quarter. Aperio Group LLC now owns 20,263 shares of the company’s stock worth $1,181,000 after buying an additional 248 shares during the period. Institutional investors and hedge funds own 96.96% of the company’s stock.
Tenneco Inc. (NYSE:TEN) traded up 0.44% during trading on Friday, reaching $65.73. 219,747 shares of the company were exchanged. Tenneco Inc. has a 52-week low of $34.45 and a 52-week high of $67.72. The stock has a market capitalization of $3.62 billion, a PE ratio of 9.61 and a beta of 1.92. The firm’s 50 day moving average is $63.52 and its 200 day moving average is $56.73.
Tenneco (NYSE:TEN) last announced its earnings results on Friday, October 28th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.04. Tenneco had a return on equity of 58.26% and a net margin of 4.61%. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the company posted $1.22 EPS. Tenneco’s quarterly revenue was up 3.7% on a year-over-year basis. Analysts expect that Tenneco Inc. will post $5.91 EPS for the current year.
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A number of brokerages have recently issued reports on TEN. Jefferies Group began coverage on shares of Tenneco in a research report on Wednesday, November 30th. They set a “hold” rating and a $62.00 target price on the stock. Barclays PLC raised their target price on shares of Tenneco from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, RBC Capital Markets restated a “hold” rating and set a $67.00 target price on shares of Tenneco in a research report on Tuesday, January 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Tenneco 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 company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 37,158 shares of the company’s stock, valued at approximately $2,466,919.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.30% of the stock is owned by company 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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