Shares of Tenneco Inc (NYSE:TEN) have earned an average rating of “Hold” from the ten analysts that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $47.40.
A number of analysts recently issued reports on TEN shares. Wells Fargo & Co lowered their price target on Tenneco from $45.00 to $41.00 and set a “market perform” rating for the company in a research report on Monday, October 29th. Deutsche Bank started coverage on Tenneco in a research report on Thursday, December 13th. They issued a “hold” rating for the company. Royal Bank of Canada restated a “hold” rating and issued a $34.00 price target on shares of Tenneco in a research report on Wednesday, December 19th. KeyCorp started coverage on Tenneco in a research report on Monday, December 10th. They issued a “sector weight” rating for the company. Finally, Morgan Stanley downgraded Tenneco from an “equal weight” rating to an “underweight” rating and set a $30.00 price target for the company. in a research report on Wednesday, November 14th.
TEN traded up $1.01 during trading on Tuesday, reaching $33.25. The company had a trading volume of 10,535 shares, compared to its average volume of 513,411. The company has a market cap of $1.81 billion, a PE ratio of 4.83, a P/E/G ratio of 0.41 and a beta of 2.05. Tenneco has a 52 week low of $25.73 and a 52 week high of $60.20. The company has a quick ratio of 0.79, a current ratio of 1.18 and a debt-to-equity ratio of 1.68.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 3.01%. Tenneco’s payout ratio is 14.51%.
Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in Tenneco by 14.5% in the third quarter. JPMorgan Chase & Co. now owns 22,679 shares of the auto parts company’s stock worth $956,000 after purchasing an additional 2,864 shares during the period. Vanguard Group Inc increased its stake in Tenneco by 3.0% in the third quarter. Vanguard Group Inc now owns 4,607,555 shares of the auto parts company’s stock worth $194,162,000 after purchasing an additional 132,904 shares during the period. Ramsey Quantitative Systems purchased a new stake in Tenneco in the third quarter worth $356,000. Commonwealth Bank of Australia purchased a new stake in Tenneco in the third quarter worth $568,000. Finally, Baird Financial Group Inc. increased its stake in Tenneco by 5.6% in the third quarter. Baird Financial Group Inc. now owns 42,490 shares of the auto parts company’s stock worth $1,784,000 after purchasing an additional 2,238 shares during the period. Institutional investors and hedge funds own 77.19% of the company’s stock.
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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