HGK Asset Management Inc. Has $673,000 Holdings in Tenneco Inc. (TEN)
HGK Asset Management Inc. reduced its position in Tenneco Inc. (NYSE:TEN) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,643 shares of the auto parts company’s stock after selling 452 shares during the period. HGK Asset Management Inc.’s holdings in Tenneco were worth $673,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Jennison Associates LLC boosted its position in Tenneco by 0.5% in the 2nd quarter. Jennison Associates LLC now owns 32,589 shares of the auto parts company’s stock valued at $1,885,000 after buying an additional 149 shares during the last quarter. Quantbot Technologies LP boosted its position in Tenneco by 8.4% in the 1st quarter. Quantbot Technologies LP now owns 2,410 shares of the auto parts company’s stock valued at $150,000 after buying an additional 187 shares during the last quarter. Legal & General Group Plc boosted its position in Tenneco by 0.4% in the 1st quarter. Legal & General Group Plc now owns 63,003 shares of the auto parts company’s stock valued at $3,936,000 after buying an additional 264 shares during the last quarter. Bailard Inc. boosted its position in Tenneco by 0.5% in the 1st quarter. Bailard Inc. now owns 57,435 shares of the auto parts company’s stock valued at $3,585,000 after buying an additional 290 shares during the last quarter. Finally, TCW Group Inc. boosted its position in Tenneco by 0.7% in the 1st quarter. TCW Group Inc. now owns 49,701 shares of the auto parts company’s stock valued at $3,102,000 after buying an additional 333 shares during the last quarter. 96.72% of the stock is owned by institutional investors.
Shares of Tenneco Inc. (NYSE TEN) traded up 0.98% during trading on Monday, hitting $54.50. 41,908 shares of the stock traded hands. The firm has a 50 day moving average price of $54.26 and a 200-day moving average price of $58.35. Tenneco Inc. has a one year low of $51.09 and a one year high of $70.96. The company has a market cap of $2.90 billion, a PE ratio of 10.61 and a beta of 1.79.
Tenneco (NYSE:TEN) last posted its quarterly earnings data on Friday, July 28th. The auto parts company reported $1.90 earnings per share (EPS) 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 company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the firm posted $1.78 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. Analysts anticipate that Tenneco Inc. will post $6.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Stockholders of record on Thursday, September 7th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.85%. Tenneco’s payout ratio is 19.72%.
A number of equities analysts have weighed in on TEN shares. BidaskClub cut shares of Tenneco from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. ValuEngine raised shares of Tenneco from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. CLSA started coverage on shares of Tenneco in a research report on Wednesday, June 21st. They issued a “buy” rating and a $68.00 price objective for the company. Morgan Stanley decreased their price objective on shares of Tenneco from $45.00 to $44.00 and set an “underweight” rating for the company in a research report on Friday, June 9th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $62.00 price objective (down from $67.00) on shares of Tenneco in a research report on Monday, July 31st. One 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’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $66.22.
In other news, VP John E. Kunz sold 4,243 shares of the business’s 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 transaction, the vice president now owns 30,373 shares in the company, valued at approximately $1,814,786.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Gregg M. Sherrill sold 27,443 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $54.67, for a total transaction of $1,500,308.81. Following the transaction, the insider now owns 229,043 shares in the company, valued at approximately $12,521,780.81. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.
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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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