Tenneco (TEN) Trading 5.4% Higher

Shares of Tenneco Inc (NYSE:TEN) traded up 5.4% during trading on Thursday . The company traded as high as $36.50 and last traded at $36.28. 593,847 shares were traded during trading, an increase of 0% from the average session volume of 592,378 shares. The stock had previously closed at $34.43.

Several equities analysts recently weighed in on the company. Wolfe Research assumed coverage on Tenneco in a research report on Tuesday, October 2nd. They set a “peer perform” rating on the stock. Wells Fargo & Co reduced their target price on Tenneco from $50.00 to $45.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 17th. Morgan Stanley reduced their target price on Tenneco from $41.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday, August 13th. Finally, Royal Bank of Canada reduced their target price on Tenneco to $47.00 and set an “underperform” rating on the stock in a research report on Thursday, October 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.43.

The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 5.20, a PEG ratio of 0.49 and a beta of 1.85. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.22 and a quick ratio of 0.85.

Tenneco (NYSE:TEN) last released its earnings results on Friday, October 26th. The auto parts company reported $1.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.20. Tenneco had a return on equity of 47.04% and a net margin of 2.39%. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same period in the prior year, the business posted $1.67 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, analysts expect that Tenneco Inc will post 6.68 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Tuesday, December 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 3rd. This represents a $1.00 annualized dividend and a yield of 2.79%. Tenneco’s dividend payout ratio (DPR) is presently 14.51%.

In other news, Director Thomas C. Freyman acquired 5,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were bought at an average cost of $44.49 per share, for a total transaction of $222,450.00. Following the acquisition, the director now directly owns 22,265 shares in the company, valued at approximately $990,569.85. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.95% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Balter Liquid Alternatives LLC purchased a new position in shares of Tenneco in the 2nd quarter worth about $147,000. NumerixS Investment Technologies Inc purchased a new position in shares of Tenneco in the 2nd quarter worth about $174,000. Cerebellum GP LLC purchased a new position in shares of Tenneco in the 2nd quarter worth about $176,000. Sei Investments Co. raised its holdings in shares of Tenneco by 279.8% in the 1st quarter. Sei Investments Co. now owns 3,544 shares of the auto parts company’s stock worth $195,000 after purchasing an additional 2,611 shares during the period. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Tenneco in the 3rd quarter worth about $226,000. Institutional investors own 80.77% of the company’s stock.

Tenneco Company Profile (NYSE:TEN)

Tenneco Inc designs, manufactures, and distributes clean air and ride performance products and systems for light vehicle, commercial truck, off-highway, and other vehicle applications worldwide. The company offers various vehicle emission control products and systems, including catalytic converters and diesel oxidation catalysts, diesel particulate filters, burner systems, lean nitrogen oxide (NOx) traps, hydrocarbon vaporizers and injectors, selective catalytic reduction (SCR) systems, SCR-coated diesel particulate filters systems, urea dosing systems, four-way catalysts, alternative NOx reduction technologies, mufflers and resonators, fabricated exhaust manifolds, pipes, hydroformed assemblies, elastomeric hangers and isolators, and after treatment control units.

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