Tenneco Inc (NYSE:TEN) SVP Brandon B. Smith purchased 20,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of $9.48 per share, with a total value of $189,600.00. Following the purchase, the senior vice president now directly owns 25,129 shares in the company, valued at $238,222.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
NYSE:TEN opened at $9.45 on Thursday. The firm has a market cap of $570.73 million, a P/E ratio of 1.50 and a beta of 2.34. The company has a quick ratio of 0.88, a current ratio of 1.39 and a debt-to-equity ratio of 2.99. Tenneco Inc has a 52-week low of $7.62 and a 52-week high of $47.22. The stock’s fifty day moving average price is $9.54.
Tenneco (NYSE:TEN) last released its quarterly earnings results on Tuesday, August 6th. The auto parts company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.27. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.47 billion. Tenneco had a positive return on equity of 20.87% and a negative net margin of 0.90%. The business’s revenue was up 76.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.92 EPS. On average, equities analysts forecast that Tenneco Inc will post 4.05 EPS for the current year.
Several research firms have recently issued reports on TEN. Morgan Stanley raised Tenneco from an “underweight” rating to an “equal weight” rating and set a $9.00 price target for the company in a research note on Wednesday. UBS Group cut their price target on Tenneco from $28.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $24.25.
Institutional investors have recently bought and sold shares of the stock. Investors Research Corp purchased a new stake in Tenneco during the 1st quarter worth about $30,000. Bartlett & Co. LLC purchased a new stake in Tenneco during the 1st quarter worth about $44,000. Huntington National Bank increased its position in Tenneco by 56.0% during the 1st quarter. Huntington National Bank now owns 3,508 shares of the auto parts company’s stock worth $78,000 after purchasing an additional 1,259 shares in the last quarter. Synovus Financial Corp purchased a new stake in Tenneco during the 2nd quarter worth about $61,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Tenneco during the 2nd quarter worth about $66,000. Hedge funds and other institutional investors own 87.97% of the company’s stock.
Tenneco Company Profile
Tenneco Inc designs, manufactures, and sells clean air, powertrain, and ride performance products and systems for light vehicle, commercial truck, off-highway, industrial, and aftermarket customers worldwide. The company offers clean air 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 aftertreatment control units.
See Also: Accumulation/Distribution
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