Tenneco Inc. (TEN) Shares Bought by Teachers Advisors LLC
Teachers Advisors LLC increased its holdings in shares of Tenneco Inc. (NYSE:TEN) by 12.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 350,974 shares of the auto parts company’s stock after buying an additional 38,756 shares during the quarter. Teachers Advisors LLC owned 0.66% of Tenneco worth $20,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Tenneco by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 4,726,512 shares of the auto parts company’s stock worth $295,029,000 after buying an additional 232,847 shares during the last quarter. BlackRock Inc. lifted its position in Tenneco by 7,263.0% during the 1st quarter. BlackRock Inc. now owns 4,259,121 shares of the auto parts company’s stock worth $265,853,000 after acquiring an additional 4,201,276 shares during the period. AJO LP lifted its position in Tenneco by 396.8% during the 2nd quarter. AJO LP now owns 1,875,899 shares of the auto parts company’s stock worth $108,483,000 after acquiring an additional 1,498,310 shares during the period. Dimensional Fund Advisors LP lifted its position in Tenneco by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,240,582 shares of the auto parts company’s stock worth $77,437,000 after acquiring an additional 8,788 shares during the period. Finally, DnB Asset Management AS lifted its position in Tenneco by 27.9% during the 2nd quarter. DnB Asset Management AS now owns 1,097,666 shares of the auto parts company’s stock worth $63,478,000 after acquiring an additional 239,492 shares during the period. Hedge funds and other institutional investors own 94.33% of the company’s stock.
A number of brokerages have commented on TEN. BidaskClub raised Tenneco from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Jefferies Group LLC reaffirmed a “hold” rating and set a $62.00 price target (down previously from $67.00) on shares of Tenneco in a research report on Monday, July 31st. ValuEngine cut Tenneco from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 22nd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $71.00 price target on shares of Tenneco in a research report on Thursday, July 6th. Finally, Morgan Stanley lowered their price target on Tenneco from $45.00 to $44.00 and set an “underweight” rating for the company in a research report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Tenneco currently has a consensus rating of “Hold” and a consensus price target of $66.63.
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Tenneco Inc. (NYSE:TEN) opened at 59.13 on Monday. The stock has a 50 day moving average price of $54.10 and a 200 day moving average price of $57.90. The firm has a market cap of $3.15 billion, a PE ratio of 11.51 and a beta of 1.79. Tenneco Inc. has a one year low of $51.09 and a one year high of $70.96.
Tenneco (NYSE:TEN) last issued its quarterly earnings data on Friday, July 28th. The auto parts company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.10. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.26 billion. Tenneco had a return on equity of 54.06% and a net margin of 3.17%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.78 earnings per share. Equities research analysts expect that Tenneco Inc. will post $6.68 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Shareholders of record on Thursday, September 7th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Wednesday, September 6th. Tenneco’s payout ratio is 19.72%.
In other news, insider Gregg M. Sherrill sold 27,443 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $54.67, for a total transaction of $1,500,308.81. Following the completion of the sale, the insider now owns 229,043 shares in the company, valued at $12,521,780.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James D. Harrington sold 13,765 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $56.87, for a total transaction of $782,815.55. Following the sale, the insider now owns 1,207 shares of the company’s stock, valued at approximately $68,642.09. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,636 shares of company stock worth $3,841,055. Corporate insiders own 2.70% of the company’s stock.
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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