Macquarie Group Ltd. Sells 62,264 Shares of Tenneco Inc (TEN)

Macquarie Group Ltd. reduced its holdings in Tenneco Inc (NYSE:TEN) by 3.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,541,894 shares of the auto parts company’s stock after selling 62,264 shares during the quarter. Macquarie Group Ltd. owned approximately 2.99% of Tenneco worth $90,263,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TEN. Cerebellum GP LLC acquired a new stake in Tenneco in the fourth quarter worth $129,000. Advisor Group Inc. lifted its stake 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 buying an additional 1,073 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Tenneco by 42.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,233 shares of the auto parts company’s stock valued at $189,000 after buying an additional 961 shares in the last quarter. Trilogy Capital Inc. bought a new position in shares of Tenneco in the fourth quarter valued at $206,000. Finally, Boothbay Fund Management LLC bought a new position in shares of Tenneco in the third quarter valued at $223,000. Hedge funds and other institutional investors own 94.33% of the company’s stock.

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Tenneco stock traded down $1.12 during mid-day trading on Friday, hitting $55.58. 320,387 shares of the company traded hands, compared to its average volume of 352,617. The firm has a market cap of $2,858.42, a PE ratio of 8.07, a PEG ratio of 0.55 and a beta of 1.80. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.24 and a quick ratio of 0.85. Tenneco Inc has a one year low of $50.73 and a one year high of $65.59.

Tenneco (NYSE:TEN) last announced its quarterly earnings data on Friday, February 9th. The auto parts company reported $1.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.25. Tenneco had a net margin of 2.22% and a return on equity of 52.86%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the business posted $1.67 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. research analysts anticipate that Tenneco Inc will post 7.49 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 22nd. Investors of record on Tuesday, March 6th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, March 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.80%. Tenneco’s dividend payout ratio is currently 14.51%.

A number of research analysts recently weighed in on TEN shares. Barclays reissued a “buy” rating and set a $74.00 price target on shares of Tenneco in a research report on Tuesday, January 9th. Guggenheim set a $70.00 price objective on shares of Tenneco and gave the stock a “buy” rating 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 research note on Saturday, February 3rd. Finally, Wells Fargo reduced their target price on shares of Tenneco from $64.00 to $60.00 and set a “market perform” rating for the company in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $65.13.

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Tenneco 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.

Institutional Ownership by Quarter for Tenneco (NYSE:TEN)

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