Algert Global LLC increased its stake in shares of Tenneco Inc. (NYSE:TEN) by 26.2% during the third quarter, Holdings Channel reports. The firm owned 24,899 shares of the company’s stock after buying an additional 5,175 shares during the period. Algert Global LLC’s holdings in Tenneco were worth $1,451,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in Tenneco by 1,611.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,595 shares of the company’s stock valued at $168,000 after buying an additional 3,385 shares during the period. New York State Teachers Retirement System bought a new stake in Tenneco during the second quarter valued at about $177,000. Pacer Advisors Inc. bought a new stake in Tenneco during the second quarter valued at about $201,000. Jane Street Group LLC bought a new stake in Tenneco during the second quarter valued at about $213,000. Finally, Creative Planning boosted its stake in Tenneco by 134.7% in the second quarter. Creative Planning now owns 4,784 shares of the company’s stock valued at $223,000 after buying an additional 2,746 shares during the period. 91.99% of the stock is owned by institutional investors.
Tenneco Inc. (NYSE:TEN) opened at 54.80 on Friday. The firm’s 50-day moving average is $56.86 and its 200-day moving average is $53.14. Tenneco Inc. has a 52 week low of $34.45 and a 52 week high of $59.88. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 12.09 and a beta of 2.05.
Tenneco (NYSE:TEN) last announced its quarterly earnings results on Friday, July 29th. The company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.17. Tenneco had a net margin of 3.13% and a return on equity of 61.10%. The business earned $2.20 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the business earned $1.39 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts anticipate that Tenneco Inc. will post $5.89 earnings per share for the current year.
TEN has been the subject of several research reports. Zacks Investment Research raised shares of Tenneco from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Tuesday, September 13th. Deutsche Bank AG upped their price target on shares of Tenneco from $67.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, August 1st. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $58.00 price target (down previously from $60.00) on shares of Tenneco in a research report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.17.
In related news, Director David B. Price, Jr. sold 30,000 shares of Tenneco stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $55.86, for a total value of $1,675,800.00. Following the completion of the transaction, the director now owns 2,757 shares in the company, valued at $154,006.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Josep Fornos sold 11,030 shares of Tenneco stock in a transaction that occurred on 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 transaction, the insider now 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.