American International Group Inc. decreased its position in shares of Tenneco Inc (NYSE:TEN) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,583 shares of the auto parts company’s stock after selling 1,751 shares during the quarter. American International Group Inc. owned 0.06% of Tenneco worth $1,788,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of TEN. Meeder Asset Management Inc. grew its holdings in shares of Tenneco by 179.6% during the first quarter. Meeder Asset Management Inc. now owns 2,631 shares of the auto parts company’s stock valued at $144,000 after buying an additional 1,690 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Tenneco by 42.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,233 shares of the auto parts company’s stock valued at $189,000 after buying an additional 961 shares during the last quarter. Trilogy Capital Inc. purchased a new stake in shares of Tenneco during the fourth quarter valued at approximately $206,000. M&T Bank Corp purchased a new stake in shares of Tenneco during the first quarter valued at approximately $226,000. Finally, New York State Teachers Retirement System purchased a new stake in shares of Tenneco during the first quarter valued at approximately $252,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.
TEN stock traded up $0.47 on Thursday, hitting $46.45. The company had a trading volume of 545,451 shares, compared to its average volume of 574,610. Tenneco Inc has a 12-month low of $43.48 and a 12-month high of $65.59. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $2.39 billion, a P/E ratio of 6.74, a P/E/G ratio of 0.46 and a beta of 1.79.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 22nd. Shareholders of record on Tuesday, June 5th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 4th. This represents a $1.00 annualized dividend and a yield of 2.15%. Tenneco’s payout ratio is presently 14.51%.
In other Tenneco news, CEO Brian J. Kesseler purchased 21,500 shares of the firm’s stock in a transaction on Friday, May 11th. The shares were acquired at an average cost of $46.63 per share, for a total transaction of $1,002,545.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.95% of the stock is currently owned by company insiders.
TEN has been the topic of a number of recent analyst reports. Goldman Sachs Group cut shares of Tenneco from a “buy” rating to a “neutral” rating and set a $62.00 price target on the stock. in a report on Friday, April 13th. Deutsche Bank cut their price target on shares of Tenneco from $66.00 to $61.00 and set a “hold” rating on the stock in a report on Wednesday, April 11th. ValuEngine cut shares of Tenneco from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. TheStreet cut shares of Tenneco from a “b-” rating to a “c+” rating in a report on Tuesday, May 8th. Finally, Morgan Stanley upgraded shares of Tenneco from an “underweight” rating to an “equal weight” rating and set a $41.00 target price on the stock in a report on Wednesday, May 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $64.10.
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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