Tenneco Inc. (TEN) Shares Sold by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA reduced its position in Tenneco Inc. (NYSE:TEN) by 14.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,515 shares of the auto parts company’s stock after selling 12,496 shares during the period. BNP Paribas Arbitrage SA owned about 0.14% of Tenneco worth $4,194,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP raised its position in Tenneco by 8.4% in the first quarter. Quantbot Technologies LP now owns 2,410 shares of the auto parts company’s stock worth $150,000 after buying an additional 187 shares during the period. Telemus Capital LLC raised its position in Tenneco by 13.6% in the second quarter. Telemus Capital LLC now owns 3,994 shares of the auto parts company’s stock worth $231,000 after buying an additional 477 shares during the period. 1st Global Advisors Inc. bought a new position in Tenneco during the first quarter worth $267,000. Campbell & CO Investment Adviser LLC bought a new position in Tenneco during the first quarter worth $275,000. Finally, Tudor Investment Corp ET AL bought a new position in Tenneco during the first quarter worth $287,000. 94.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tenneco Inc. (TEN) opened at 52.68 on Friday. The stock has a market cap of $2.80 billion, a P/E ratio of 10.25 and a beta of 1.79. The firm has a 50-day moving average price of $55.84 and a 200-day moving average price of $59.22. Tenneco Inc. has a 52-week low of $51.09 and a 52-week high of $70.96.
Tenneco (NYSE:TEN) last posted its quarterly earnings data on Friday, July 28th. The auto parts company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.10. Tenneco had a net margin of 3.17% and a return on equity of 54.06%. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the company posted $1.78 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts anticipate that Tenneco Inc. will post $6.68 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Shareholders of record on Thursday, September 7th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, September 6th. Tenneco’s payout ratio is 19.72%.
A number of research firms have weighed in on TEN. 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 Friday, June 2nd. Guggenheim began coverage on Tenneco in a research note on Wednesday, June 21st. They set a “buy” rating and a $68.00 price objective on the stock. 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. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $71.00 price objective on shares of Tenneco in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $66.22.
In other Tenneco news, Director David B. Price, Jr. sold 4,893 shares of Tenneco stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $57.82, for a total transaction of $282,913.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP John E. Kunz sold 4,243 shares of Tenneco stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $59.75, for a total transaction of $253,519.25. Following the transaction, the vice president now owns 30,373 shares in the company, valued at $1,814,786.75. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.
Tenneco Company Profile
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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