Wells Fargo & Company MN Increases Stake in Tenneco Inc. (TEN)
Wells Fargo & Company MN increased its position in Tenneco Inc. (NYSE:TEN) by 13.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 222,674 shares of the company’s stock after buying an additional 26,373 shares during the period. Wells Fargo & Company MN owned approximately 0.40% of Tenneco worth $12,976,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of TEN. Horrell Capital Management Inc. increased its position in Tenneco by 0.5% in the third quarter. Horrell Capital Management Inc. now owns 26,990 shares of the company’s stock worth $1,573,000 after buying an additional 128 shares during the period. Globeflex Capital L P increased its position in Tenneco by 0.4% in the second quarter. Globeflex Capital L P now owns 41,263 shares of the company’s stock worth $1,923,000 after buying an additional 169 shares during the period. Scotia Capital Inc. increased its position in Tenneco by 1.1% in the second quarter. Scotia Capital Inc. now owns 17,383 shares of the company’s stock worth $813,000 after buying an additional 195 shares during the period. Whittier Trust Co. increased its position in Tenneco by 1.2% in the second quarter. Whittier Trust Co. now owns 19,276 shares of the company’s stock worth $898,000 after buying an additional 223 shares during the period. Finally, Sei Investments Co. increased its position in Tenneco by 2.2% in the second quarter. Sei Investments Co. now owns 13,146 shares of the company’s stock worth $612,000 after buying an additional 281 shares during the period. 97.70% of the stock is currently owned by institutional investors and hedge funds.
Tenneco Inc. (NYSE:TEN) traded down 0.938% during midday trading on Monday, reaching $59.655. 203,151 shares of the company’s stock were exchanged. Tenneco Inc. has a 52 week low of $34.45 and a 52 week high of $60.89. The firm has a 50-day moving average price of $55.50 and a 200 day moving average price of $54.28. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 8.724 and a beta of 1.94.
Tenneco (NYSE:TEN) last issued its quarterly earnings results on Friday, October 28th. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.04. Tenneco had a net margin of 4.61% and a return on equity of 58.26%. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the business earned $1.22 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. Analysts anticipate that Tenneco Inc. will post $5.90 EPS for the current year.
TEN has been the topic of several analyst reports. Deutsche Bank AG increased their target price 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. Zacks Investment Research raised shares of Tenneco from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Tenneco presently has a consensus rating of “Hold” and a consensus price target of $60.58.
In other Tenneco news, insider Peng Guo sold 3,186 shares of Tenneco stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $56.14, for a total value of $178,862.04. Following the sale, the insider now directly owns 89,828 shares in the company, valued at approximately $5,042,943.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John E. Kunz sold 4,322 shares of Tenneco stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $56.96, for a total transaction of $246,181.12. Following the completion of the sale, the vice president now owns 32,523 shares in the company, valued at $1,852,510.08. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.
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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