NJ State Employees Deferred Compensation Plan maintained its position in Tenneco Inc. (NYSE:TEN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,000 shares of the auto parts company’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in Tenneco were worth $578,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in TEN. Quantbot Technologies LP raised its stake in Tenneco by 8.4% in the first 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. Telemus Capital LLC purchased a new stake in Tenneco during the first quarter valued at $220,000. Winslow Evans & Crocker Inc. raised its stake in Tenneco by 39,760.0% in the first quarter. Winslow Evans & Crocker Inc. now owns 3,986 shares of the auto parts company’s stock valued at $249,000 after buying an additional 3,976 shares during the last quarter. 1st Global Advisors Inc. purchased a new stake in Tenneco during the first quarter valued at $267,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Tenneco during the first quarter valued at $275,000. 94.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tenneco Inc. (NYSE:TEN) traded down 0.82% during mid-day trading on Friday, reaching $51.74. 472,754 shares of the company’s stock traded hands. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 10.07 and a beta of 1.79. Tenneco Inc. has a 12 month low of $51.09 and a 12 month high of $70.96. The company has a 50 day moving average of $56.56 and a 200 day moving average of $59.78.
Tenneco (NYSE:TEN) last issued its earnings results on Friday, July 28th. The auto parts company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. Tenneco had a return on equity of 54.06% and a net margin of 3.17%. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the firm earned $1.78 earnings per share. Tenneco’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts expect that Tenneco Inc. will post $6.68 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 26th. Stockholders of record on Thursday, September 7th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Wednesday, September 6th. Tenneco’s payout ratio is 19.72%.
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TEN has been the topic of several analyst reports. ValuEngine raised shares of Tenneco from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. BidaskClub raised shares of Tenneco from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Guggenheim initiated coverage on shares of Tenneco in a report on Wednesday, June 21st. They set a “buy” rating and a $68.00 price objective on the stock. CLSA initiated coverage on shares of Tenneco in a research report on Wednesday, June 21st. They set a “buy” rating and a $68.00 target price on the stock. Finally, Jefferies Group LLC restated a “hold” rating and set a $67.00 target price on shares of Tenneco in a research report on Tuesday, April 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Tenneco has an average rating of “Buy” and a consensus target price of $66.22.
In related news, Director David B. Price, Jr. sold 4,893 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $57.82, for a total transaction of $282,913.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John E. Kunz sold 4,243 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $59.75, for a total value of $253,519.25. Following the sale, the vice president now owns 30,373 shares of the company’s stock, valued at approximately $1,814,786.75. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.
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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