Two Sigma Investments LP Takes $6.44 Million Position in Tenneco Inc (TEN)

Two Sigma Investments LP acquired a new position in shares of Tenneco Inc (NYSE:TEN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 235,250 shares of the auto parts company’s stock, valued at approximately $6,443,000. Two Sigma Investments LP owned about 0.41% of Tenneco as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Advisors Asset Management Inc. acquired a new position in Tenneco in the 4th quarter valued at approximately $27,000. Oppenheimer Asset Management Inc. acquired a new position in Tenneco in the 4th quarter valued at approximately $51,000. Resources Investment Advisors Inc. raised its holdings in Tenneco by 621.3% in the 4th quarter. Resources Investment Advisors Inc. now owns 2,164 shares of the auto parts company’s stock valued at $59,000 after acquiring an additional 1,864 shares in the last quarter. Quantamental Technologies LLC bought a new stake in shares of Tenneco in the 4th quarter valued at approximately $173,000. Finally, Cerebellum GP LLC grew its stake in shares of Tenneco by 68.6% in the 4th quarter. Cerebellum GP LLC now owns 6,777 shares of the auto parts company’s stock valued at $186,000 after purchasing an additional 2,757 shares during the period. 90.43% of the stock is owned by institutional investors and hedge funds.

TEN has been the topic of several analyst reports. Royal Bank of Canada reiterated a “hold” rating and issued a $34.00 price objective on shares of Tenneco in a research note on Wednesday, December 19th. Deutsche Bank initiated coverage on Tenneco in a research note on Thursday, December 13th. They issued a “hold” rating on the stock. Finally, KeyCorp initiated coverage on Tenneco in a research note on Monday, December 10th. They issued a “sector weight” rating on the stock. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $45.00.



TEN stock opened at $22.55 on Monday. Tenneco Inc has a 1-year low of $22.52 and a 1-year high of $60.20. The company has a market capitalization of $1.29 billion, a PE ratio of 3.59, a P/E/G ratio of 0.51 and a beta of 2.04. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.89 and a current ratio of 1.41.

Tenneco (NYSE:TEN) last released its quarterly earnings data on Thursday, March 14th. The auto parts company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.16). Tenneco had a net margin of 0.50% and a return on equity of 34.88%. The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the prior year, the company posted $1.89 earnings per share. The company’s revenue for the quarter was up 78.9% on a year-over-year basis. Analysts forecast that Tenneco Inc will post 5.55 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were given a dividend of $0.25 per share. The ex-dividend date was Monday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 4.43%. Tenneco’s dividend payout ratio (DPR) is presently 15.92%.

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Tenneco Company Profile

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.

See Also: Gross Domestic Product (GDP)

Institutional Ownership by Quarter for Tenneco (NYSE:TEN)

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