Public Employees Retirement System of Ohio decreased its position in Tenneco Inc (NYSE:TEN) by 89.2% in the third quarter, HoldingsChannel.com reports. The firm owned 5,897 shares of the auto parts company’s stock after selling 48,552 shares during the period. Public Employees Retirement System of Ohio’s holdings in Tenneco were worth $358,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in TEN. Advisory Services Network LLC boosted its holdings in shares of Tenneco by 107.4% in the second quarter. Advisory Services Network LLC now owns 2,184 shares of the auto parts company’s stock valued at $126,000 after purchasing an additional 1,131 shares during the period. Advisor Group Inc. boosted its holdings in shares of Tenneco by 83.1% in the third quarter. Advisor Group Inc. now owns 2,364 shares of the auto parts company’s stock valued at $143,000 after purchasing an additional 1,073 shares during the period. Fortaleza Asset Management Inc. boosted its holdings in shares of Tenneco by 122.5% in the third quarter. Fortaleza Asset Management Inc. now owns 2,670 shares of the auto parts company’s stock valued at $162,000 after purchasing an additional 1,470 shares during the period. Boothbay Fund Management LLC purchased a new stake in shares of Tenneco in the third quarter valued at approximately $223,000. Finally, Commonwealth Equity Services Inc purchased a new stake in shares of Tenneco in the third quarter valued at approximately $238,000. Hedge funds and other institutional investors own 94.42% of the company’s stock.
A number of analysts recently issued reports on the company. Wells Fargo & Co lowered their price target on Tenneco from $68.00 to $64.00 and set a “market perform” rating for the company in a report on Monday, October 30th. KeyCorp reiterated a “buy” rating and issued a $80.00 price target (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. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $64.00 price target on shares of Tenneco in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $67.00.
In related news, insider Peng Guo sold 5,558 shares of the business’s 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 completion of the transaction, the insider now owns 87,957 shares of the company’s stock, valued at $5,074,239.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company’s stock.
Tenneco Inc (NYSE:TEN) opened at $63.33 on Monday. The company has a market cap of $3,267.13, a P/E ratio of 19.13, a P/E/G ratio of 0.69 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 quick ratio of 0.93, a current ratio of 1.33 and a debt-to-equity ratio of 2.29.
Tenneco (NYSE:TEN) last issued its quarterly earnings data on Friday, October 27th. The auto parts company reported $1.67 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 the consensus estimate of $2.24 billion. Tenneco had a net margin of 1.97% and a return on equity of 54.13%. Tenneco’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.53 earnings per share. analysts forecast that Tenneco Inc will post 6.72 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Monday, December 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Friday, December 1st. Tenneco’s dividend payout ratio (DPR) is 30.21%.
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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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