Tenneco Inc. (TEN) Position Decreased by Keybank National Association OH

Keybank National Association OH reduced its stake in shares of Tenneco Inc. (NYSE:TEN) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,255 shares of the auto parts company’s stock after selling 50 shares during the quarter. Keybank National Association OH’s holdings in Tenneco were worth $535,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TEN. BlackRock Inc. raised its stake in shares of Tenneco by 7,263.0% during the first quarter. BlackRock Inc. now owns 4,259,121 shares of the auto parts company’s stock valued at $265,853,000 after purchasing an additional 4,201,276 shares in the last quarter. Cooke & Bieler LP raised its stake in shares of Tenneco by 129.8% during the second quarter. Cooke & Bieler LP now owns 613,569 shares of the auto parts company’s stock valued at $35,483,000 after purchasing an additional 346,564 shares in the last quarter. DnB Asset Management AS raised its stake in shares of Tenneco by 27.9% during the second quarter. DnB Asset Management AS now owns 1,097,666 shares of the auto parts company’s stock valued at $63,478,000 after purchasing an additional 239,492 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Tenneco by 5.2% during the first quarter. Vanguard Group Inc. now owns 4,726,512 shares of the auto parts company’s stock valued at $295,029,000 after purchasing an additional 232,847 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Tenneco by 13.9% during the first quarter. Alliancebernstein L.P. now owns 1,747,350 shares of the auto parts company’s stock valued at $109,070,000 after purchasing an additional 213,666 shares in the last quarter. Institutional investors and hedge funds own 96.72% of the company’s stock.

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In other Tenneco news, VP John E. Kunz sold 4,243 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $59.75, for a total value of $253,519.25. Following the transaction, the vice president now owns 30,373 shares of the company’s stock, valued at $1,814,786.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gregg M. Sherrill sold 27,443 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 229,043 shares in the company, valued at approximately $12,521,780.81. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Shares of Tenneco Inc. (NYSE TEN) opened at 53.97 on Monday. The firm has a 50-day moving average of $54.36 and a 200 day moving average of $58.46. Tenneco Inc. has a 12 month low of $51.09 and a 12 month high of $70.96. The company has a market capitalization of $2.87 billion, a PE ratio of 10.50 and a beta of 1.79.

Tenneco (NYSE:TEN) last released its earnings results on Friday, July 28th. The auto parts company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.10. Tenneco had a return on equity of 54.06% and a net margin of 3.17%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the firm posted $1.78 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities research analysts expect that Tenneco Inc. will post $6.68 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 26th. Shareholders of record on Thursday, September 7th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.85%. The ex-dividend date is Wednesday, September 6th. Tenneco’s payout ratio is 19.72%.

A number of equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of Tenneco from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. ValuEngine cut shares of Tenneco from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Guggenheim began coverage on shares of Tenneco in a research report on Wednesday, June 21st. They issued a “buy” rating and a $68.00 price target on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $62.00 price target (down from $67.00) on shares of Tenneco in a research report on Monday, July 31st. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $71.00 price target on shares of Tenneco in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Tenneco presently has an average rating of “Buy” and an average price target of $66.22.

Tenneco 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.

Institutional Ownership by Quarter for Tenneco (NYSE:TEN)

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