Investors Buy High Volume of Call Options on Tenneco (TEN)
Tenneco Inc (NYSE:TEN) was the target of some unusual options trading activity on Thursday. Traders acquired 1,201 call options on the company. This is an increase of approximately 1,297% compared to the average daily volume of 86 call options.
A number of research firms have recently weighed in on TEN. Royal Bank of Canada cut their price objective on shares of Tenneco to $47.00 and set an “underperform” rating for the company in a research report on Thursday, October 4th. Morgan Stanley dropped their price target on shares of Tenneco from $41.00 to $40.00 and set a “hold” rating for the company in a research report on Monday, August 13th. Wells Fargo & Co dropped their price target on shares of Tenneco from $50.00 to $45.00 and set a “market perform” rating for the company in a research report on Wednesday. Finally, Wolfe Research started coverage on shares of Tenneco in a research report on Tuesday, October 2nd. They set a “peer perform” rating for the company. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.88.
In other news, Director Thomas C. Freyman acquired 5,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The stock was acquired at an average price of $44.49 per share, with a total value of $222,450.00. Following the completion of the transaction, the director now directly owns 22,265 shares in the company, valued at approximately $990,569.85. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.95% of the company’s stock.
Shares of TEN stock opened at $33.67 on Friday. Tenneco has a one year low of $33.52 and a one year high of $65.59. The company has a quick ratio of 0.85, a current ratio of 1.22 and a debt-to-equity ratio of 1.81. The company has a market cap of $2.00 billion, a P/E ratio of 4.95, a P/E/G ratio of 0.47 and a beta of 1.77.
Tenneco (NYSE:TEN) last issued its quarterly earnings results on Friday, July 27th. The auto parts company reported $1.92 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.08). Tenneco had a return on equity of 48.44% and a net margin of 2.59%. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period last year, the company posted $1.90 EPS. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. Research analysts anticipate that Tenneco will post 6.76 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Tuesday, December 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.97%. The ex-dividend date is Monday, December 3rd. Tenneco’s dividend payout ratio (DPR) is 14.51%.
Tenneco Inc designs, manufactures, and distributes clean air and ride performance products and systems for light vehicle, commercial truck, off-highway, and other vehicle applications worldwide. The company offers various vehicle emission control products and systems, including catalytic converters and diesel oxidation catalysts, diesel particulate filters, burner systems, lean nitrogen oxide (NOx) traps, hydrocarbon vaporizers and injectors, selective catalytic reduction (SCR) systems, SCR-coated diesel particulate filters systems, urea dosing systems, four-way catalysts, alternative NOx reduction technologies, mufflers and resonators, fabricated exhaust manifolds, pipes, hydroformed assemblies, elastomeric hangers and isolators, and after treatment control units.
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