Josep Fornos Sells 11,030 Shares of Tenneco Inc. (TEN) Stock
Tenneco Inc. (NYSE:TEN) insider Josep Fornos sold 11,030 shares of the business’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $59.00, for a total transaction of $650,770.00. Following the completion of the sale, the insider now owns 30,865 shares in the company, valued at $1,821,035. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Tenneco Inc. (NYSE:TEN) opened at 57.30 on Friday. The firm’s 50-day moving average price is $56.82 and its 200 day moving average price is $52.98. The firm has a market cap of $3.24 billion, a P/E ratio of 12.64 and a beta of 2.05. Tenneco Inc. has a 12-month low of $34.45 and a 12-month high of $59.88.
Tenneco (NYSE:TEN) last announced its earnings results on Friday, July 29th. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.61 by $0.17. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Tenneco had a return on equity of 61.10% and a net margin of 3.13%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.39 earnings per share. On average, equities analysts expect that Tenneco Inc. will post $5.89 earnings per share for the current fiscal year.
Several equities research analysts have commented on TEN shares. Barclays PLC reiterated an “overweight” rating and issued a $58.00 price target (down from $60.00) on shares of Tenneco in a research report on Tuesday, July 19th. Deutsche Bank AG boosted their price target on shares of Tenneco from $67.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, August 1st. Finally, Zacks Investment Research upgraded shares of Tenneco from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Tenneco has a consensus rating of “Hold” and an average price target of $62.17.
Several hedge funds have recently made changes to their positions in TEN. First Mercantile Trust Co. boosted its stake in shares of Tenneco by 410.6% in the third quarter. First Mercantile Trust Co. now owns 23,503 shares of the company’s stock valued at $1,370,000 after buying an additional 18,900 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Tenneco by 33.4% in the third quarter. BNP Paribas Arbitrage SA now owns 77,185 shares of the company’s stock valued at $4,498,000 after buying an additional 19,326 shares during the last quarter. KAMES CAPITAL plc acquired a new stake in shares of Tenneco during the second quarter valued at approximately $1,175,000. Royal Bank of Canada boosted its stake in shares of Tenneco by 53.8% in the second quarter. Royal Bank of Canada now owns 175,660 shares of the company’s stock valued at $8,187,000 after buying an additional 61,461 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Tenneco by 841.7% in the second quarter. Public Employees Retirement System of Ohio now owns 35,964 shares of the company’s stock valued at $1,676,000 after buying an additional 32,145 shares during the last quarter. Institutional investors own 91.99% of the company’s stock.
Tenneco Company Profile
Tenneco Inc (Tenneco) 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 operates in six segments: North America Clean Air; North America Ride Performance; Europe, South America and India Clean Air; Europe, South America and India Ride Performance; Asia Pacific Clean Air, and Asia Pacific Ride Performance.
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