James D. Harrington Sells 13,765 Shares of Tenneco Inc. (TEN) Stock
Tenneco Inc. (NYSE:TEN) insider James D. Harrington sold 13,765 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $56.87, for a total value of $782,815.55. Following the transaction, the insider now owns 1,207 shares in the company, valued at approximately $68,642.09. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Tenneco Inc. (NYSE:TEN) traded down 0.26% during midday trading on Monday, hitting $57.42. The company had a trading volume of 330,019 shares. The company’s 50 day moving average is $54.01 and its 200 day moving average is $58.12. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 11.17 and a beta of 1.79. Tenneco Inc. has a 12-month low of $51.09 and a 12-month high of $70.96.
Tenneco (NYSE:TEN) last posted its quarterly earnings data on Friday, July 28th. The auto parts company reported $1.90 EPS for the quarter, beating the Zacks’ 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 business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter last year, the business earned $1.78 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts anticipate that Tenneco Inc. will post $6.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Investors of record on Thursday, September 7th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. Tenneco’s dividend payout ratio is presently 19.72%.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC increased its stake in shares of Tenneco by 107.4% during the second quarter. Advisory Services Network LLC now owns 2,184 shares of the auto parts company’s stock valued at $126,000 after acquiring an additional 1,131 shares during the period. Quantbot Technologies LP increased its stake in shares of Tenneco by 8.4% during the first quarter. Quantbot Technologies LP now owns 2,410 shares of the auto parts company’s stock valued at $150,000 after acquiring an additional 187 shares during the period. Telemus Capital LLC increased its stake in shares of Tenneco by 13.6% during the second quarter. Telemus Capital LLC now owns 3,994 shares of the auto parts company’s stock valued at $231,000 after acquiring an additional 477 shares during the period. 1st Global Advisors Inc. acquired a new position in shares of Tenneco during the first quarter valued at approximately $267,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Tenneco during the first quarter valued at approximately $287,000. Institutional investors and hedge funds own 94.33% of the company’s stock.
TEN has been the topic of several recent analyst reports. BidaskClub upgraded Tenneco from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. CLSA began coverage on Tenneco in a report on Wednesday, June 21st. They issued a “buy” rating and a $68.00 price target on the stock. Guggenheim began coverage on Tenneco in a report on Wednesday, June 21st. They issued a “buy” rating and a $68.00 price target on the stock. ValuEngine cut Tenneco from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 22nd. Finally, Jefferies Group LLC restated a “hold” rating and issued a $62.00 price target (down previously from $67.00) on shares of Tenneco in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $66.63.
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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