Algert Global LLC Buys New Holdings in Tenneco Inc. (TEN)
Algert Global LLC bought a new position in Tenneco Inc. (NYSE:TEN) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 47,787 shares of the auto parts company’s stock, valued at approximately $2,899,000. Algert Global LLC owned approximately 0.09% of Tenneco as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Gofen & Glossberg LLC IL grew its position in shares of Tenneco by 0.5% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 7,125 shares of the auto parts company’s stock valued at $412,000 after buying an additional 33 shares during the last quarter. Jennison Associates LLC grew its position in shares of 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. Ameritas Investment Partners Inc. grew its position in shares of Tenneco by 4.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,688 shares of the auto parts company’s stock valued at $271,000 after buying an additional 192 shares during the last quarter. Amalgamated Bank grew its position in shares of Tenneco by 4.9% in the 2nd 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 last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Tenneco by 7.2% during the 2nd quarter. Pacer Advisors Inc. now owns 10,038 shares of the auto parts company’s stock valued at $581,000 after purchasing an additional 678 shares in the last quarter. 94.99% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the company. Wells Fargo & Company cut their target price on Tenneco from $68.00 to $64.00 and set a “market perform” rating on the stock in a research report on Monday, October 30th. KeyCorp restated a “buy” rating and set a $80.00 target price (up previously from $73.00) on shares of Tenneco in a research report on Monday, October 30th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $67.70.
Tenneco Inc. (TEN) traded up $0.34 during mid-day trading on Thursday, reaching $57.51. The company had a trading volume of 395,400 shares, compared to its average volume of 551,524. Tenneco Inc. has a fifty-two week low of $51.54 and a fifty-two week high of $70.96. The company has a current ratio of 1.33, a quick ratio of 0.93 and a debt-to-equity ratio of 2.29. The firm has a market cap of $2,949.32, a P/E ratio of 8.44, a P/E/G ratio of 0.68 and a beta of 1.92.
Tenneco (NYSE:TEN) last posted its quarterly earnings results on Friday, October 27th. The auto parts company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.08. Tenneco had a return on equity of 54.13% and a net margin of 1.97%. The business had revenue of $2.27 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the business earned $1.53 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. equities analysts predict that Tenneco Inc. will post 6.72 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Monday, December 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Friday, December 1st. Tenneco’s dividend payout ratio (DPR) is currently 30.21%.
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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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