Posted by admin on Jul 30th, 2022
Truist Financial Corp cut its position in Tenneco Inc. (NYSE:TEN – Get Rating) by 5.3% during the 1st quarter, HoldingsChannel reports. The firm owned 16,185 shares of the auto parts company’s stock after selling 900 shares during the quarter. Truist Financial Corp’s holdings in Tenneco were worth $297,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently bought and sold shares of TEN. Strs Ohio lifted its position in Tenneco by 24.4% in the 4th quarter. Strs Ohio now owns 81,100 shares of the auto parts company’s stock valued at $916,000 after purchasing an additional 15,900 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Tenneco in the 4th quarter valued at about $945,000. Hussman Strategic Advisors Inc. lifted its position in Tenneco by 67.7% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 104,000 shares of the auto parts company’s stock valued at $1,175,000 after purchasing an additional 42,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Tenneco by 328.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,535 shares of the auto parts company’s stock valued at $164,000 after purchasing an additional 11,140 shares during the last quarter. Finally, Oak Family Advisors LLC raised its position in shares of Tenneco by 2.4% during the 4th quarter. Oak Family Advisors LLC now owns 214,527 shares of the auto parts company’s stock worth $2,424,000 after buying an additional 5,049 shares in the last quarter. 65.90% of the stock is currently owned by institutional investors.
Separately, JPMorgan Chase & Co. started coverage on shares of Tenneco in a research report on Tuesday, June 28th. They set an “overweight” rating and a $20.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.00.
NYSE TEN opened at $18.87 on Friday. The company has a debt-to-equity ratio of 13.94, a current ratio of 1.23 and a quick ratio of 0.81. The company’s 50 day simple moving average is $17.41 and its 200 day simple moving average is $16.16. Tenneco Inc. has a 12 month low of $9.51 and a 12 month high of $19.50. The company has a market capitalization of $1.57 billion, a P/E ratio of -22.73 and a beta of 1.85.
Tenneco (NYSE:TEN – Get Rating) last released its earnings results on Thursday, May 5th. The auto parts company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.78). The business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.52 billion. Tenneco had a positive return on equity of 20.83% and a negative net margin of 0.38%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 earnings per share. Equities research analysts expect that Tenneco Inc. will post 2.7 earnings per share for the current fiscal year.
Tenneco Inc designs, manufactures, and sells clean air, and powertrain products and systems for light vehicle, commercial truck, off-highway, industrial, motorsport, and aftermarket customers worldwide. It operates through four segments: Motorparts, Performance Solutions, Clean Air, and Powertrain. The Motorparts segment offers shock and strut, steering and suspension, braking, sealing, emissions control, engine, and maintenance products under the Monroe, Champion, Öhlins, MOOG, Walker, Fel-Pro, Wagner, Ferodo, Rancho, Thrush, National, Sealed Power, and other brands.
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