Schwab Charles Investment Management Inc. lifted its stake in shares of Tenneco Inc (NYSE:TEN) by 9.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 362,135 shares of the auto parts company’s stock after purchasing an additional 31,924 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.70% of Tenneco worth $21,200,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in TEN. Bank of Montreal Can grew its holdings in Tenneco by 11.2% during the 4th quarter. Bank of Montreal Can now owns 129,564 shares of the auto parts company’s stock worth $7,585,000 after acquiring an additional 13,079 shares during the last quarter. Benson Investment Management Company Inc. bought a new stake in Tenneco during the 4th quarter worth approximately $1,937,000. Sit Investment Associates Inc. grew its holdings in Tenneco by 54.9% during the 4th quarter. Sit Investment Associates Inc. now owns 26,875 shares of the auto parts company’s stock worth $1,573,000 after acquiring an additional 9,525 shares during the last quarter. DnB Asset Management AS grew its holdings in Tenneco by 5.2% during the 4th quarter. DnB Asset Management AS now owns 1,213,244 shares of the auto parts company’s stock worth $71,023,000 after acquiring an additional 59,569 shares during the last quarter. Finally, GSA Capital Partners LLP grew its holdings in Tenneco by 6.7% during the 3rd quarter. GSA Capital Partners LLP now owns 14,914 shares of the auto parts company’s stock worth $905,000 after acquiring an additional 939 shares during the last quarter. 95.97% of the stock is currently owned by institutional investors.
Shares of Tenneco Inc (NYSE TEN) opened at $55.32 on Monday. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.33 and a quick ratio of 0.93. Tenneco Inc has a 12 month low of $51.54 and a 12 month high of $67.93. The company has a market cap of $2,853.90, a price-to-earnings ratio of 14.15, a PEG ratio of 0.60 and a beta of 1.90.
Tenneco (NYSE:TEN) last posted its quarterly earnings data on Friday, February 9th. The auto parts company reported $1.89 EPS for the quarter, beating the Zacks’ 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 company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the firm posted $1.67 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. sell-side analysts anticipate that Tenneco Inc will post 7.38 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Tuesday, March 6th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Monday, March 5th. Tenneco’s dividend payout ratio is currently 25.58%.
In other news, insider Peng Guo sold 5,558 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $5,074,239.33. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.70% of the company’s stock.
TEN has been the topic of a number of research reports. Royal Bank of Canada reissued a “hold” rating and set a $64.00 target price on shares of Tenneco in a report on Wednesday, December 20th. Wells Fargo & Co reduced their target price 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 target price (up from $73.00) on shares of Tenneco in a report on Monday, October 30th. They noted that the move was a valuation call. Barclays reissued a “buy” rating and set a $74.00 target price on shares of Tenneco in a report on Tuesday, January 9th. Finally, ValuEngine lowered shares of Tenneco from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $67.00.
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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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