Tenneco Inc (NYSE:TEN) shares reached a new 52-week low on Thursday . The stock 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.
Several research analysts have weighed in on the company. Morgan Stanley lowered Tenneco from an “equal weight” rating to an “underweight” rating and set a $30.00 target price on the stock. in a report on Wednesday, November 14th. Wells Fargo & Co reduced their target price on Tenneco from $45.00 to $41.00 and set a “market perform” rating on the stock in a report on Monday, October 29th. Royal Bank of Canada reduced their target price on Tenneco to $47.00 and set an “underperform” rating on the stock in a report on Thursday, October 4th. Finally, Wolfe Research assumed coverage on Tenneco in a report on Tuesday, October 2nd. They set a “peer perform” rating on the stock. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.00.
The firm has a market cap of $1.80 billion, a P/E ratio of 4.38, a PEG ratio of 0.44 and a beta of 1.82. The company has a quick ratio of 0.79, a current ratio of 1.18 and a debt-to-equity ratio of 1.68.
Tenneco (NYSE:TEN) last issued its quarterly earnings results on Friday, October 26th. The auto parts company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.20. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. Tenneco had a return on equity of 47.05% and a net margin of 2.39%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 earnings per share. On average, equities analysts forecast that Tenneco Inc will post 6.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Tuesday, December 4th will be issued a $0.25 dividend. The ex-dividend date is Monday, December 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.32%. Tenneco’s dividend payout ratio (DPR) is 14.51%.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Tenneco by 3.0% in the third 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 last quarter. Fuller & Thaler Asset Management Inc. increased its position in Tenneco by 67.3% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 3,000,997 shares of the auto parts company’s stock worth $126,462,000 after buying an additional 1,207,636 shares during the last quarter. Lyrical Asset Management LP increased its position in Tenneco by 1.4% during the third quarter. Lyrical Asset Management LP now owns 2,581,240 shares of the auto parts company’s stock worth $108,773,000 after buying an additional 34,673 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Tenneco by 11.3% during the third quarter. Macquarie Group Ltd. now owns 2,159,894 shares of the auto parts company’s stock worth $91,018,000 after acquiring an additional 218,653 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Tenneco by 4.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,474,366 shares of the auto parts company’s stock worth $62,130,000 after acquiring an additional 68,511 shares during the period. Institutional investors own 78.15% of the company’s stock.
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Tenneco Company Profile (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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