Tenneco Inc. (TEN) Shares Sold by Elk Creek Partners LLC
Elk Creek Partners LLC decreased its holdings in shares of Tenneco Inc. (NYSE:TEN) by 9.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,468 shares of the auto parts company’s stock after selling 7,144 shares during the period. Elk Creek Partners LLC owned approximately 0.13% of Tenneco worth $4,075,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Amalgamated Bank boosted its stake in Tenneco by 4.9% during the second quarter. Amalgamated Bank now owns 7,017 shares of the auto parts company’s stock valued at $406,000 after buying an additional 328 shares during the period. BlackRock Inc. lifted its stake in Tenneco by 13.3% during the second quarter. BlackRock Inc. now owns 4,826,451 shares of the auto parts company’s stock worth $279,112,000 after purchasing an additional 567,330 shares during the last quarter. Nationwide Fund Advisors lifted its stake in Tenneco by 6.4% during the second quarter. Nationwide Fund Advisors now owns 141,063 shares of the auto parts company’s stock worth $8,158,000 after purchasing an additional 8,494 shares during the last quarter. Teachers Advisors LLC lifted its stake in Tenneco by 12.4% during the second quarter. Teachers Advisors LLC now owns 350,974 shares of the auto parts company’s stock worth $20,297,000 after purchasing an additional 38,756 shares during the last quarter. Finally, AJO LP lifted its stake in Tenneco by 396.8% during the second quarter. AJO LP now owns 1,875,899 shares of the auto parts company’s stock worth $108,483,000 after purchasing an additional 1,498,310 shares during the last quarter. 94.33% of the stock is owned by institutional investors.
Tenneco Inc. (TEN) opened at 57.75 on Monday. Tenneco Inc. has a one year low of $51.09 and a one year high of $70.96. The company’s 50-day moving average price is $54.01 and its 200-day moving average price is $58.12. The stock has a market cap of $3.07 billion, a P/E ratio of 11.24 and a beta of 1.79.
Tenneco (NYSE:TEN) last released its quarterly earnings results on Friday, July 28th. The auto parts company reported $1.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 period in the previous year, the company earned $1.78 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts forecast 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. Stockholders 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 annualized dividend and a dividend yield of 1.74%. Tenneco’s payout ratio is currently 19.72%.
Several equities research analysts have issued reports on TEN shares. ValuEngine raised Tenneco from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. BidaskClub raised Tenneco from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Guggenheim started coverage on Tenneco in a research note on Wednesday, June 21st. They set a “buy” rating and a $68.00 price target for the company. CLSA started coverage on Tenneco in a research note on Wednesday, June 21st. They set a “buy” rating and a $68.00 price target for the company. Finally, Morgan Stanley dropped their price target 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 analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $66.63.
In related news, VP John E. Kunz sold 4,243 shares of the business’s stock in a transaction on 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 in the company, valued at $1,814,786.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregg M. Sherrill sold 27,443 shares of the business’s stock in a transaction on Friday, September 1st. The shares were 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 of the company’s stock, valued at $12,521,780.81. The disclosure for this sale can be found here. Insiders have sold 43,288 shares of company stock valued at $2,395,999 over the last quarter. 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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