Hillcrest Asset Management LLC reduced its stake in shares of Tenneco Inc. (NYSE:TEN) by 2.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,600 shares of the auto parts company’s stock after selling 4,085 shares during the quarter. Tenneco makes up 1.8% of Hillcrest Asset Management LLC’s holdings, making the stock its 24th largest position. Hillcrest Asset Management LLC owned 0.32% of Tenneco worth $10,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisory Services Network LLC lifted its stake in shares of Tenneco by 107.4% during the 2nd quarter. Advisory Services Network LLC now owns 2,184 shares of the auto parts company’s stock worth $126,000 after purchasing an additional 1,131 shares during the last quarter. Fortaleza Asset Management Inc. lifted its stake in shares of Tenneco by 122.5% during the 3rd quarter. Fortaleza Asset Management Inc. now owns 2,670 shares of the auto parts company’s stock worth $162,000 after purchasing an additional 1,470 shares during the last quarter. Telemus Capital LLC lifted its stake in shares of Tenneco by 13.6% during the 2nd quarter. Telemus Capital LLC now owns 3,994 shares of the auto parts company’s stock worth $231,000 after purchasing an additional 477 shares during the last quarter. Cim Investment Mangement Inc. purchased a new stake in Tenneco in the second quarter valued at about $270,000. Finally, Ameritas Investment Partners Inc. raised its stake in Tenneco by 4.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,688 shares of the auto parts company’s stock valued at $271,000 after buying an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.

In other news, insider Gregg M. Sherrill sold 27,443 shares of Tenneco stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $54.67, for a total value of $1,500,308.81. Following the sale, the insider now directly owns 229,043 shares of the company’s stock, valued at $12,521,780.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John E. Kunz sold 2,010 shares of Tenneco stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $58.00, for a total value of $116,580.00. Following the completion of the sale, the vice president now directly owns 17,868 shares in the company, valued at $1,036,344. The disclosure for this sale can be found here. Over the last three months, insiders sold 82,261 shares of company stock worth $4,654,484. 2.70% of the stock is owned by corporate insiders.

Tenneco Inc. (TEN) traded down $0.04 during trading on Monday, reaching $55.73. The company had a trading volume of 269,860 shares, compared to its average volume of 570,873. The firm has a market capitalization of $2,870.00, a price-to-earnings ratio of 8.24, a price-to-earnings-growth ratio of 0.66 and a beta of 1.92. Tenneco Inc. has a 12-month low of $51.54 and a 12-month high of $70.96. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.93 and a current ratio of 1.33.

Tenneco (NYSE:TEN) last posted its earnings results on Friday, October 27th. The auto parts company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.59 by $0.08. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.24 billion. Tenneco had a return on equity of 54.13% and a net margin of 1.97%. Tenneco’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $1.53 earnings per share. sell-side analysts anticipate that Tenneco Inc. will post 6.72 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Monday, December 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.79%. The ex-dividend date is Friday, December 1st. Tenneco’s payout ratio is currently 31.06%.

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TEN has been the subject of a number of research analyst reports. ValuEngine cut Tenneco from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 22nd. KeyCorp reiterated a “buy” rating and issued a $80.00 price target (up from $73.00) on shares of Tenneco in a research note on Monday, October 30th. They noted that the move was a valuation call. BidaskClub upgraded Tenneco from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $62.00 price target (down from $67.00) on shares of Tenneco in a research note on Monday, July 31st. Finally, Wells Fargo & Company decreased their price target on Tenneco from $68.00 to $64.00 and set a “market perform” rating for the company in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $67.70.

Tenneco 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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Institutional Ownership by Quarter for Tenneco (NYSE:TEN)

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