Schwab Charles Investment Management Inc. lifted its stake in shares of Tenneco Inc (NYSE:TEN) by 9.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 362,135 shares of the auto parts company’s stock after acquiring an additional 31,924 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Tenneco were worth $21,200,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Voya Investment Management LLC lifted its position in shares of Tenneco by 10.8% during the 2nd quarter. Voya Investment Management LLC now owns 24,308 shares of the auto parts company’s stock valued at $1,406,000 after acquiring an additional 2,365 shares during the period. American International Group Inc. lifted its position in shares of Tenneco by 8.1% during the 3rd quarter. American International Group Inc. now owns 35,804 shares of the auto parts company’s stock valued at $2,172,000 after acquiring an additional 2,677 shares during the period. Algert Global LLC acquired a new position in shares of Tenneco during the 3rd quarter valued at $2,899,000. D.A. Davidson & CO. acquired a new position in shares of Tenneco during the 3rd quarter valued at $709,000. Finally, Canada Pension Plan Investment Board lifted its position in shares of Tenneco by 12.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 181,500 shares of the auto parts company’s stock valued at $11,012,000 after acquiring an additional 19,900 shares during the period. Institutional investors own 95.97% of the company’s stock.
A number of research firms recently issued reports on TEN. Guggenheim set a $70.00 target price on shares of Tenneco and gave the company a “buy” rating in a research report on Monday, February 12th. Wells Fargo & Co lowered their price objective on shares of Tenneco from $64.00 to $60.00 and set a “market perform” rating on the stock in a report on Monday, February 12th. Royal Bank of Canada restated a “hold” rating and set a $63.00 price objective on shares of Tenneco in a report on Friday, February 9th. ValuEngine downgraded shares of Tenneco from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Finally, Barclays restated a “buy” rating and set a $74.00 price objective on shares of Tenneco in a 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 given a buy rating to the company. Tenneco currently has an average rating of “Hold” and a consensus target price of $67.00.
Tenneco Inc (NYSE TEN) opened at $55.32 on Monday. 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 Inc has a 1-year low of $51.54 and a 1-year high of $67.93. The firm has a market cap of $2,853.90, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 0.60 and a beta of 1.90.
Tenneco (NYSE:TEN) last released its quarterly earnings data on Friday, February 9th. The auto parts company reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.25. Tenneco had a net margin of 2.22% and a return on equity of 53.94%. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. equities analysts forecast that Tenneco Inc will post 7.38 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Tuesday, March 6th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.81%. Tenneco’s dividend payout ratio is currently 25.58%.
In other news, insider Peng Guo sold 5,558 shares of the stock in a transaction dated 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 sale, the insider now owns 87,957 shares in the company, valued at $5,074,239.33. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.70% of the company’s stock.
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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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