Tenneco Inc. (TEN) Shares Sold by Principal Financial Group Inc.
Principal Financial Group Inc. lowered its stake in shares of Tenneco Inc. (NYSE:TEN) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 183,490 shares of the auto parts company’s stock after selling 1,064 shares during the period. Principal Financial Group Inc. owned about 0.34% of Tenneco worth $11,132,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Voya Investment Management LLC boosted its holdings in Tenneco by 10.8% during the second quarter. Voya Investment Management LLC now owns 24,308 shares of the auto parts company’s stock worth $1,406,000 after buying an additional 2,365 shares in the last quarter. First Trust Advisors LP boosted its holdings in Tenneco by 9.1% during the second quarter. First Trust Advisors LP now owns 49,706 shares of the auto parts company’s stock worth $2,874,000 after buying an additional 4,166 shares in the last quarter. LSV Asset Management boosted its holdings in Tenneco by 20.5% during the second quarter. LSV Asset Management now owns 368,054 shares of the auto parts company’s stock worth $21,284,000 after buying an additional 62,700 shares in the last quarter. Chicago Equity Partners LLC boosted its holdings in Tenneco by 54.3% during the second quarter. Chicago Equity Partners LLC now owns 54,660 shares of the auto parts company’s stock worth $3,161,000 after buying an additional 19,230 shares in the last quarter. Finally, Rational Advisors LLC purchased a new stake in Tenneco during the second quarter worth about $289,000. 94.92% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tenneco Inc. (TEN) traded down $0.97 on Friday, reaching $58.45. 451,587 shares of the company’s stock were exchanged, compared to its average volume of 368,871. The company has a current ratio of 1.33, a quick ratio of 0.93 and a debt-to-equity ratio of 2.29. The firm has a market capitalization of $3,015.38, a PE ratio of 8.63, a P/E/G ratio of 0.69 and a beta of 1.92. Tenneco Inc. has a one year low of $51.54 and a one year high of $70.96.
Tenneco (NYSE:TEN) last announced its earnings results on Friday, October 27th. The auto parts company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.08. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Tenneco had a net margin of 1.97% and a return on equity of 54.13%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.53 earnings per share. research analysts predict that Tenneco Inc. will post 6.72 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Monday, December 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Friday, December 1st. Tenneco’s payout ratio is currently 30.21%.
A number of research firms recently commented on TEN. Wells Fargo & Company decreased their price objective on shares of Tenneco from $68.00 to $64.00 and set a “market perform” rating on the stock in a report on Monday, October 30th. KeyCorp reissued a “buy” rating and set a $80.00 price objective (up previously from $73.00) on shares of Tenneco in a report on Monday, October 30th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $67.70.
In other Tenneco news, VP John E. Kunz sold 11,602 shares of Tenneco 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 completion of the transaction, the vice president now owns 31,915 shares in the company, valued at $1,766,495.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP John E. Kunz sold 11,500 shares of Tenneco stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $59.00, for a total transaction of $678,500.00. Following the transaction, the vice president now owns 6,368 shares of the company’s stock, valued at approximately $375,712. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,818 shares of company stock valued at $3,154,175. 2.70% of the stock is currently owned by company insiders.
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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