Public Employees Retirement Association of Colorado Sells 1,722 Shares of Tenneco Inc. (TEN)
Public Employees Retirement Association of Colorado cut its holdings in shares of Tenneco Inc. (NYSE:TEN) by 16.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,744 shares of the auto parts company’s stock after selling 1,722 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Tenneco were worth $530,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Gofen & Glossberg LLC IL lifted its stake in Tenneco by 0.5% during the second quarter. Gofen & Glossberg LLC IL now owns 7,125 shares of the auto parts company’s stock valued at $412,000 after purchasing an additional 33 shares during the last quarter. Jennison Associates LLC lifted 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 acquiring an additional 149 shares in the last quarter. Ameritas Investment Partners Inc. lifted 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 acquiring an additional 192 shares in the last quarter. Amalgamated Bank lifted 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 acquiring an additional 328 shares in the last quarter. Finally, Whittier Trust Co. lifted its position in shares of Tenneco by 2.0% in the 2nd quarter. Whittier Trust Co. now owns 20,949 shares of the auto parts company’s stock valued at $1,211,000 after acquiring an additional 403 shares in the last quarter. 97.84% of the stock is owned by institutional investors and hedge funds.
In related news, VP John E. Kunz sold 11,602 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $55.35, for a total transaction of $642,170.70. Following the completion of the sale, the vice president now directly owns 31,915 shares of the company’s stock, valued at approximately $1,766,495.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gregg M. Sherrill sold 27,443 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $54.67, for a total transaction of $1,500,308.81. Following the sale, the insider now directly owns 229,043 shares of the company’s stock, valued at $12,521,780.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,261 shares of company stock worth $4,654,484. 2.70% of the stock is currently owned by company insiders.
Tenneco Inc. (NYSE TEN) opened at $55.72 on Tuesday. Tenneco Inc. has a 12 month low of $51.54 and a 12 month high of $70.96. The company has a market cap of $2,877.09, a price-to-earnings ratio of 8.24, a PEG ratio of 0.66 and a beta of 1.92. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.93 and a current ratio of 1.33.
Tenneco (NYSE:TEN) last announced its quarterly earnings results on Friday, October 27th. The auto parts company reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.08. Tenneco had a net margin of 1.97% and a return on equity of 54.13%. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the business posted $1.53 EPS. Tenneco’s quarterly revenue was up 8.5% on a year-over-year basis. research analysts forecast that Tenneco Inc. will post 6.72 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Monday, December 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, December 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.79%. Tenneco’s dividend payout ratio (DPR) is 30.21%.
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Several equities research analysts recently commented on TEN shares. ValuEngine downgraded shares of Tenneco from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 22nd. KeyCorp restated a “buy” rating and issued a $80.00 price target (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. BidaskClub upgraded shares of Tenneco from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Jefferies Group LLC restated a “hold” rating and issued a $62.00 price target (down previously from $67.00) on shares of Tenneco in a research report on Monday, July 31st. Finally, Wells Fargo & Company reduced their price target on shares of Tenneco from $68.00 to $64.00 and set a “market perform” rating for the company in a research report on Monday, October 30th. 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. Tenneco has an average rating of “Hold” and a consensus target price of $67.70.
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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