Tenneco Inc (TEN) Holdings Trimmed by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. reduced its stake in shares of Tenneco Inc (NYSE:TEN) by 29.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 436,556 shares of the auto parts company’s stock after selling 181,222 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Tenneco were worth $25,556,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of TEN. LSV Asset Management grew its position in Tenneco by 59.8% during the fourth quarter. LSV Asset Management now owns 816,758 shares of the auto parts company’s stock worth $47,813,000 after buying an additional 305,489 shares during the period. Macquarie Group Ltd. grew its position in Tenneco by 9.6% during the third quarter. Macquarie Group Ltd. now owns 1,604,158 shares of the auto parts company’s stock worth $97,325,000 after buying an additional 139,898 shares during the period. Dean Investment Associates LLC acquired a new position in Tenneco during the third quarter worth about $7,816,000. Bank of New York Mellon Corp grew its position in Tenneco by 35.9% during the fourth quarter. Bank of New York Mellon Corp now owns 467,952 shares of the auto parts company’s stock worth $27,395,000 after buying an additional 123,591 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Tenneco during the fourth quarter worth about $4,960,000. Institutional investors own 92.07% of the company’s stock.
Shares of Tenneco Inc (NYSE:TEN) opened at $52.86 on Friday. The company has a market cap of $2,710.98, a P/E ratio of 13.52, a PEG ratio of 0.56 and a beta of 1.91. Tenneco Inc has a 1 year low of $50.73 and a 1 year high of $67.93. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.33 and a quick ratio of 0.93.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Tuesday, March 6th will be given a $0.25 dividend. The ex-dividend date is Monday, March 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.89%. Tenneco’s dividend payout ratio is presently 25.58%.
Several brokerages have weighed in on TEN. Guggenheim set a $70.00 target price on shares of Tenneco and gave the stock a “buy” rating in a research report on Monday, February 12th. Royal Bank of Canada restated a “hold” rating and set a $63.00 target price on shares of Tenneco in a research report on Friday, February 9th. ValuEngine lowered shares of Tenneco from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Wells Fargo & Co lowered their price target on shares of Tenneco from $64.00 to $60.00 and set a “market perform” rating on the stock in a research report on Monday, February 12th. Finally, Barclays reiterated a “buy” rating and issued a $74.00 price target on shares of Tenneco in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $67.00.
In other news, insider Peng Guo sold 5,558 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $57.69, for a total value of $320,641.02. Following the sale, the insider now directly owns 87,957 shares in the company, valued at $5,074,239.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is owned by corporate insiders.
WARNING: “Tenneco Inc (TEN) Holdings Trimmed by UBS Asset Management Americas Inc.” was first posted by Daily Political and is owned by of Daily Political. If you are viewing this article on another publication, it was illegally stolen and republished in violation of US and international copyright and trademark laws. The original version of this article can be viewed at https://www.dailypolitical.com/2018/03/03/tenneco-inc-ten-holdings-trimmed-by-ubs-asset-management-americas-inc.html.
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.
Want to see what other hedge funds are holding TEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tenneco Inc (NYSE:TEN).
Receive News & Ratings for Tenneco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenneco and related companies with MarketBeat.com's FREE daily email newsletter.