Boston Partners reduced its position in Tenneco Inc. (NYSE:TEN) by 13.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,722,539 shares of the auto parts company’s stock after selling 269,696 shares during the period. Boston Partners owned 3.22% of Tenneco worth $99,615,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its position in shares of Tenneco by 44.5% in the second quarter. Canada Pension Plan Investment Board now owns 161,600 shares of the auto parts company’s stock valued at $9,345,000 after buying an additional 49,800 shares during the period. Cigna Investments Inc. New bought a new position in shares of Tenneco during the second quarter valued at $457,000. Telemus Capital LLC boosted its position in shares of Tenneco by 13.6% in the second quarter. Telemus Capital LLC now owns 3,994 shares of the auto parts company’s stock valued at $231,000 after buying an additional 477 shares during the period. Sei Investments Co. boosted its position in shares of Tenneco by 61.6% in the second quarter. Sei Investments Co. now owns 10,137 shares of the auto parts company’s stock valued at $587,000 after buying an additional 3,863 shares during the period. Finally, Essex Investment Management Co. LLC boosted its position in shares of Tenneco by 29.0% in the second quarter. Essex Investment Management Co. LLC now owns 28,594 shares of the auto parts company’s stock valued at $1,654,000 after buying an additional 6,422 shares during the period. 96.54% of the stock is owned by institutional investors and hedge funds.

Shares of Tenneco Inc. (NYSE TEN) opened at 53.42 on Friday. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 10.40 and a beta of 1.79. Tenneco Inc. has a 52 week low of $51.09 and a 52 week high of $70.96. The firm’s 50-day moving average price is $56.98 and its 200 day moving average price is $60.30.

Tenneco (NYSE:TEN) last issued its quarterly earnings data on Friday, July 28th. The auto parts company reported $1.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.10. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.26 billion. Tenneco had a return on equity of 54.06% and a net margin of 3.17%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.78 earnings per share. On average, equities research analysts forecast that Tenneco Inc. will post $6.68 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Stockholders of record on Thursday, September 7th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.87%. Tenneco’s payout ratio is 19.72%.

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Several equities research analysts recently issued reports on the company. Jefferies Group LLC reissued a “hold” rating and set a $62.00 price objective (down previously from $67.00) on shares of Tenneco in a research note on Monday, July 31st. BidaskClub raised Tenneco from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. ValuEngine lowered Tenneco from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 22nd. Royal Bank Of Canada lifted their price objective on Tenneco from $67.00 to $71.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 2nd. Finally, Morgan Stanley dropped their price objective on Tenneco from $45.00 to $44.00 and set an “underweight” rating for the company in a research note on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $66.22.

In related news, Director David B. Price, Jr. sold 4,893 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $57.82, for a total value of $282,913.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John E. Kunz sold 4,243 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $59.75, for a total transaction of $253,519.25. Following the completion of the transaction, the vice president now directly owns 30,373 shares of the company’s stock, valued at approximately $1,814,786.75. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

About Tenneco

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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Institutional Ownership by Quarter for Tenneco (NYSE:TEN)

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