MetLife Investment Advisors LLC purchased a new position in Tenneco Inc (NYSE:TEN) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 22,605 shares of the auto parts company’s stock, valued at approximately $1,323,000.
Other large investors have also modified their holdings of the company. Cerebellum GP LLC acquired a new position in Tenneco in the 4th quarter worth approximately $129,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Tenneco by 42.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,233 shares of the auto parts company’s stock worth $189,000 after buying an additional 961 shares during the period. Trilogy Capital Inc. acquired a new position in Tenneco in the 4th quarter worth approximately $206,000. Boothbay Fund Management LLC acquired a new position in Tenneco in the 3rd quarter worth approximately $223,000. Finally, SG Americas Securities LLC increased its holdings in Tenneco by 276.5% in the 3rd quarter. SG Americas Securities LLC now owns 7,025 shares of the auto parts company’s stock worth $426,000 after buying an additional 5,159 shares during the period. Institutional investors own 94.33% of the company’s stock.
Several brokerages recently weighed in on TEN. ValuEngine downgraded shares of Tenneco from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Wells Fargo cut their price target 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. Guggenheim set a $70.00 price target on shares of Tenneco and gave the stock a “buy” rating in a report on Monday, February 12th. Barclays reiterated a “buy” rating and issued a $74.00 price target on shares of Tenneco in a report on Tuesday, January 9th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $63.00 price target on shares of Tenneco in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $65.13.
Shares of NYSE TEN opened at $55.58 on Monday. The company 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. Tenneco Inc has a 12 month low of $50.73 and a 12 month high of $65.59. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.85 and a current ratio of 1.24.
Tenneco (NYSE:TEN) last issued its quarterly earnings data on Friday, February 9th. The auto parts company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.25. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Tenneco had a net margin of 2.22% and a return on equity of 52.86%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $1.67 EPS. analysts forecast that Tenneco Inc will post 7.49 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 22nd. Stockholders of record on Tuesday, March 6th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.80%. Tenneco’s payout ratio is 14.51%.
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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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