Shares of Tenneco Inc (NYSE:TEN) reached a new 52-week low during trading on Thursday . The company traded as low as $31.02 and last traded at $31.66, with a volume of 329020 shares. The stock had previously closed at $31.78.
A number of analysts have recently commented on the company. Royal Bank of Canada cut their target price on Tenneco to $47.00 and set an “underperform” rating on the stock in a research report on Thursday, October 4th. Morgan Stanley cut their target price on Tenneco from $41.00 to $40.00 and set a “hold” rating on the stock in a research report on Monday, August 13th. Wells Fargo & Co cut their target price on Tenneco from $50.00 to $45.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 17th. Finally, Wolfe Research assumed coverage on Tenneco in a research report on Tuesday, October 2nd. They set a “peer perform” rating on the stock. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Tenneco has an average rating of “Hold” and an average target price of $55.00.
The stock has a market capitalization of $1.81 billion, a P/E ratio of 4.58, a PEG ratio of 0.44 and a beta of 1.82. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.18 and a quick ratio of 0.79.
Tenneco (NYSE:TEN) last issued its quarterly earnings results on Friday, October 26th. The auto parts company reported $1.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.20. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Tenneco had a return on equity of 47.05% and a net margin of 2.39%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.67 EPS. Research analysts expect that Tenneco Inc will post 6.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Tuesday, December 4th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.17%. The ex-dividend date is Monday, December 3rd. Tenneco’s dividend payout ratio (DPR) is presently 14.51%.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Tenneco by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,607,555 shares of the auto parts company’s stock valued at $194,162,000 after acquiring an additional 132,904 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in Tenneco by 67.3% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 3,000,997 shares of the auto parts company’s stock valued at $126,462,000 after acquiring an additional 1,207,636 shares during the period. Lyrical Asset Management LP increased its position in Tenneco by 1.4% in the 3rd quarter. Lyrical Asset Management LP now owns 2,581,240 shares of the auto parts company’s stock valued at $108,773,000 after acquiring an additional 34,673 shares during the period. Macquarie Group Ltd. increased its position in Tenneco by 11.3% in the 3rd quarter. Macquarie Group Ltd. now owns 2,159,894 shares of the auto parts company’s stock valued at $91,018,000 after acquiring an additional 218,653 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Tenneco by 4.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,474,366 shares of the auto parts company’s stock valued at $62,130,000 after acquiring an additional 68,511 shares during the period. Hedge funds and other institutional investors own 78.15% of the company’s stock.
About Tenneco (NYSE:TEN)
Tenneco Inc designs, manufactures, and distributes clean air and ride performance products and systems for light vehicle, commercial truck, off-highway, and other vehicle applications worldwide. The company offers various vehicle emission control products and systems, including catalytic converters and diesel oxidation catalysts, diesel particulate filters, burner systems, lean nitrogen oxide (NOx) traps, hydrocarbon vaporizers and injectors, selective catalytic reduction (SCR) systems, SCR-coated diesel particulate filters systems, urea dosing systems, four-way catalysts, alternative NOx reduction technologies, mufflers and resonators, fabricated exhaust manifolds, pipes, hydroformed assemblies, elastomeric hangers and isolators, and after treatment control units.
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