BlackRock Advisors LLC increased its stake in Tenneco Inc. (NYSE:TEN) by 50.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 155,220 shares of the company’s stock after buying an additional 52,332 shares during the period. BlackRock Advisors LLC owned about 0.27% of Tenneco worth $7,235,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the company. Whittier Trust Co. increased its position in shares of Tenneco by 1.2% in the second quarter. Whittier Trust Co. now owns 19,276 shares of the company’s stock worth $898,000 after buying an additional 223 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Tenneco by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 8,064 shares of the company’s stock worth $376,000 after buying an additional 979 shares during the last quarter. American Century Companies Inc. increased its position in shares of Tenneco by 0.3% in the second quarter. American Century Companies Inc. now owns 324,208 shares of the company’s stock worth $15,111,000 after buying an additional 1,081 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Tenneco by 2.1% in the second quarter. Nationwide Fund Advisors now owns 56,534 shares of the company’s stock worth $2,635,000 after buying an additional 1,157 shares during the last quarter. Finally, HGK Asset Management Inc. increased its position in shares of Tenneco by 13.7% in the second quarter. HGK Asset Management Inc. now owns 12,203 shares of the company’s stock worth $569,000 after buying an additional 1,469 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors and hedge funds.
Tenneco Inc. (NYSE:TEN) opened at 57.50 on Thursday. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 12.68 and a beta of 2.05. Tenneco Inc. has a 1-year low of $34.45 and a 1-year high of $59.88. The firm has a 50-day moving average of $56.90 and a 200 day moving average of $53.13.
Tenneco (NYSE:TEN) last released its quarterly earnings data on Friday, July 29th. The company reported $1.78 EPS for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.17. Tenneco had a net margin of 3.13% and a return on equity of 61.10%. The firm earned $2.20 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the business posted $1.39 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts expect that Tenneco Inc. will post $5.89 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on TEN shares. Zacks Investment Research raised Tenneco from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Tuesday, September 13th. Deutsche Bank AG upped their price objective on Tenneco from $67.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, August 1st. Finally, Barclays PLC reiterated an “overweight” rating and set a $58.00 price objective (down previously from $60.00) on shares of Tenneco in a research report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $62.17.
In other news, VP John E. Kunz sold 4,000 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $56.31, for a total value of $225,240.00. Following the completion of the sale, the vice president now owns 32,201 shares of the company’s stock, valued at $1,813,238.31. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Josep Fornos sold 11,030 shares of the business’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $59.00, for a total transaction of $650,770.00. Following the completion of the sale, the insider now directly owns 30,865 shares of the company’s stock, valued at approximately $1,821,035. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.
Tenneco Inc (Tenneco) 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 operates in six segments: North America Clean Air; North America Ride Performance; Europe, South America and India Clean Air; Europe, South America and India Ride Performance; Asia Pacific Clean Air, and Asia Pacific Ride Performance.
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