Tenneco (TEN) Reaches New 52-Week Low at $31.02

Tenneco Inc (NYSE:TEN) hit a new 52-week low during trading on Thursday . The stock traded as low as $31.02 and last traded at $31.66, with a volume of 329020 shares traded. The stock had previously closed at $31.78.

Several equities research analysts have recently commented on the company. Morgan Stanley lowered Tenneco from an “equal weight” rating to an “underweight” rating and set a $30.00 price target on the stock. in a research note on Wednesday, November 14th. Wolfe Research assumed coverage on Tenneco in a research note on Tuesday, October 2nd. They set a “peer perform” rating on the stock. Wells Fargo & Co decreased their price target on Tenneco from $50.00 to $45.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 17th. Finally, Royal Bank of Canada decreased their price target on Tenneco to $47.00 and set an “underperform” rating on the stock in a research note on Thursday, October 4th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $55.00.

The company has a market capitalization of $1.81 billion, a P/E ratio of 4.58, a P/E/G ratio of 0.44 and a beta of 1.82. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.18 and a quick ratio of 0.79.

Tenneco (NYSE:TEN) last posted its earnings results on Friday, October 26th. The auto parts company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.20. Tenneco had a return on equity of 47.05% and a net margin of 2.39%. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the prior year, the company earned $1.67 EPS. Tenneco’s revenue was up 4.3% on a year-over-year basis. Analysts anticipate that Tenneco Inc will post 6.57 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Tuesday, December 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Monday, December 3rd. Tenneco’s payout ratio is currently 14.51%.

A number of hedge funds have recently bought and sold shares of the stock. BancorpSouth Bank lifted its stake in Tenneco by 11.1% in the 2nd quarter. BancorpSouth Bank now owns 12,685 shares of the auto parts company’s stock valued at $558,000 after buying an additional 1,264 shares in the last quarter. IndexIQ Advisors LLC lifted its stake in Tenneco by 3.9% in the 3rd quarter. IndexIQ Advisors LLC now owns 41,430 shares of the auto parts company’s stock valued at $1,746,000 after buying an additional 1,564 shares in the last quarter. Legal & General Group Plc lifted its stake in Tenneco by 3.0% in the 3rd quarter. Legal & General Group Plc now owns 55,593 shares of the auto parts company’s stock valued at $2,343,000 after buying an additional 1,608 shares in the last quarter. Rhumbline Advisers lifted its stake in Tenneco by 3.1% in the 2nd quarter. Rhumbline Advisers now owns 54,010 shares of the auto parts company’s stock valued at $2,374,000 after buying an additional 1,638 shares in the last quarter. Finally, HGK Asset Management Inc. lifted its stake in Tenneco by 17.5% in the 2nd quarter. HGK Asset Management Inc. now owns 11,590 shares of the auto parts company’s stock valued at $509,000 after buying an additional 1,729 shares in the last quarter. 78.15% of the stock is currently owned by hedge funds and other institutional investors.

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About Tenneco (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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