Tenneco Inc. (NYSE:TEN) announced a quarterly dividend on Thursday, October 12th, Wall Street Journal reports. Shareholders of record on Monday, December 4th will be paid a dividend of 0.25 per share by the auto parts company on Wednesday, December 20th. This represents a $1.00 annualized dividend and a yield of 1.63%. The ex-dividend date is Friday, December 1st.
Tenneco has a dividend payout ratio of 15.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Tenneco to earn $7.28 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 13.7%.
Shares of Tenneco (NYSE TEN) opened at 61.21 on Friday. The firm’s 50-day moving average is $57.81 and its 200 day moving average is $57.53. Tenneco has a 12 month low of $51.09 and a 12 month high of $70.96. The company has a market capitalization of $3.26 billion, a PE ratio of 11.91 and a beta of 1.85.
Tenneco (NYSE:TEN) last issued its quarterly earnings data on Friday, July 28th. The auto parts company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.10. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Tenneco had a net margin of 3.17% and a return on equity of 54.06%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $1.78 earnings per share. Equities research analysts predict that Tenneco will post $6.68 EPS for the current year.
A number of research analysts have recently issued reports on TEN shares. ValuEngine upgraded shares of Tenneco from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Guggenheim started coverage on shares of Tenneco in a report on Wednesday, June 21st. They set a “buy” rating and a $68.00 price objective for the company. BidaskClub upgraded shares of Tenneco from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. CLSA started coverage on shares of Tenneco in a report on Wednesday, June 21st. They set a “buy” rating and a $68.00 price objective for the company. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $71.00 price objective on shares of Tenneco in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Tenneco presently has an average rating of “Hold” and an average price target of $66.63.
In related news, insider Gregg M. Sherrill sold 27,443 shares of the firm’s stock in a transaction dated 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 directly owns 229,043 shares of the company’s stock, valued at $12,521,780.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John E. Kunz sold 6,368 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $61.00, for a total transaction of $388,448.00. The disclosure for this sale can be found here. Insiders have sold 82,261 shares of company stock worth $4,654,484 over the last three months. 2.70% of the stock is owned by 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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