John E. Kunz Sells 11,602 Shares of Tenneco Inc. (TEN) Stock
Tenneco Inc. (NYSE:TEN) VP John E. Kunz sold 11,602 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $55.35, for a total transaction of $642,170.70. Following the transaction, the vice president now directly owns 31,915 shares in the company, valued at approximately $1,766,495.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Tenneco Inc. (TEN) opened at 57.57 on Friday. Tenneco Inc. has a 1-year low of $51.09 and a 1-year high of $70.96. The firm has a 50-day moving average of $54.01 and a 200-day moving average of $58.12. The firm has a market capitalization of $3.06 billion, a PE ratio of 11.20 and a beta of 1.79.
Tenneco (NYSE:TEN) last released its quarterly earnings results on Friday, July 28th. The auto parts company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.26 billion. Tenneco had a return on equity of 54.06% and a net margin of 3.17%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 EPS. On average, equities research analysts anticipate that Tenneco Inc. will post $6.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Stockholders of record on Thursday, September 7th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, September 6th. Tenneco’s payout ratio is presently 19.72%.
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Several equities analysts have recently issued reports on the stock. ValuEngine raised shares of Tenneco from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. BidaskClub raised shares of Tenneco from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Guggenheim assumed coverage on shares of Tenneco in a research note on Wednesday, June 21st. They issued a “buy” rating and a $68.00 price objective on the stock. CLSA assumed coverage on shares of Tenneco in a research note on Wednesday, June 21st. They issued a “buy” rating and a $68.00 price objective on the stock. Finally, Morgan Stanley lowered their price objective on shares of Tenneco from $45.00 to $44.00 and set an “underweight” rating on the stock in a research note on Friday, June 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Tenneco presently has an average rating of “Hold” and an average price target of $66.63.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEN. Janney Montgomery Scott LLC boosted its holdings in shares of Tenneco by 13.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,296 shares of the auto parts company’s stock valued at $393,000 after buying an additional 744 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Tenneco by 47.8% in the 1st quarter. First Trust Advisors LP now owns 45,540 shares of the auto parts company’s stock valued at $2,843,000 after buying an additional 14,724 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Tenneco by 25.0% in the 1st quarter. American Century Companies Inc. now owns 158,995 shares of the auto parts company’s stock valued at $9,924,000 after buying an additional 31,775 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of Tenneco in the 1st quarter valued at approximately $1,332,000. Finally, Airain ltd acquired a new stake in shares of Tenneco in the 1st quarter valued at approximately $1,728,000. 96.72% of the stock is owned by institutional investors.
Tenneco Company Profile
Tenneco Inc 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 designs, manufactures and distributes highly engineered products for both original equipment vehicle manufacturers (OEMs) and the repair and replacement markets, or aftermarket, across the world.
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