TCW Group Inc. Has $2.22 Million Position in Tenneco Inc. (TEN)
TCW Group Inc. lowered its position in Tenneco Inc. (NYSE:TEN) by 13.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,603 shares of the auto parts company’s stock after selling 5,737 shares during the quarter. TCW Group Inc. owned about 0.07% of Tenneco worth $2,221,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Advisory Services Network LLC boosted its stake in Tenneco by 107.4% during the second quarter. Advisory Services Network LLC now owns 2,184 shares of the auto parts company’s stock worth $126,000 after buying an additional 1,131 shares during the period. Advisor Group Inc. boosted its stake in Tenneco by 83.1% during the third quarter. Advisor Group Inc. now owns 2,364 shares of the auto parts company’s stock worth $143,000 after buying an additional 1,073 shares during the period. Fortaleza Asset Management Inc. boosted its stake in Tenneco by 122.5% during the third quarter. Fortaleza Asset Management Inc. now owns 2,670 shares of the auto parts company’s stock worth $162,000 after buying an additional 1,470 shares during the period. Telemus Capital LLC boosted its stake in Tenneco by 13.6% during 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. Finally, Cim Investment Mangement Inc. purchased a new position in Tenneco during the second quarter worth about $270,000. 97.84% of the stock is owned by hedge funds and other institutional investors.
Shares of Tenneco Inc. (NYSE TEN) opened at $56.24 on Friday. The stock has a market cap of $2,880.00, a PE ratio of 8.17, a PEG ratio of 0.66 and a beta of 1.92. Tenneco Inc. has a 1 year low of $51.54 and a 1 year high of $70.96. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.93 and a current ratio of 1.33.
Tenneco (NYSE:TEN) last issued its earnings results on Friday, October 27th. The auto parts company reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.08. The firm had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Tenneco had a net margin of 1.97% and a return on equity of 54.13%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.53 earnings per share. research analysts expect that Tenneco Inc. will post 6.72 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Monday, December 4th will be issued a $0.25 dividend. The ex-dividend date is Friday, December 1st. This represents a $1.00 annualized dividend and a yield of 1.78%. Tenneco’s dividend payout ratio (DPR) is 31.06%.
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Several research analysts have weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Tenneco from $68.00 to $64.00 and set a “market perform” rating for the company in a research note on Monday, October 30th. KeyCorp reaffirmed a “buy” rating and set a $80.00 target price (up previously from $73.00) on shares of Tenneco in a research note on Monday, October 30th. They noted that the move was a valuation call. BidaskClub raised shares of Tenneco from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Jefferies Group LLC reissued a “hold” rating and set a $62.00 price target (down previously from $67.00) on shares of Tenneco in a research report on Monday, July 31st. Finally, ValuEngine cut shares of Tenneco from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $67.70.
In related news, insider Gregg M. Sherrill sold 27,443 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $54.67, for a total value of $1,500,308.81. Following the sale, the insider now owns 229,043 shares of the company’s stock, valued at $12,521,780.81. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider James D. Harrington sold 13,765 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $56.87, for a total transaction of $782,815.55. Following the completion of the sale, the insider now directly owns 1,207 shares in the company, valued at approximately $68,642.09. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,261 shares of company stock worth $4,654,484. 2.70% of the stock is owned by corporate insiders.
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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