Tenneco Inc. (NYSE:TEN) Stock Holdings Trimmed by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its holdings in shares of Tenneco Inc. (NYSE:TENGet Rating) by 55.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,712 shares of the auto parts company’s stock after selling 23,434 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Tenneco were worth $321,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in Tenneco by 6.8% during the 2nd quarter. Arizona State Retirement System now owns 22,529 shares of the auto parts company’s stock valued at $387,000 after acquiring an additional 1,442 shares in the last quarter. Global Retirement Partners LLC raised its stake in Tenneco by 40.4% during the 2nd quarter. Global Retirement Partners LLC now owns 15,400 shares of the auto parts company’s stock valued at $264,000 after acquiring an additional 4,435 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Tenneco by 10.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 29,590 shares of the auto parts company’s stock valued at $508,000 after acquiring an additional 2,690 shares in the last quarter. Private Management Group Inc. raised its stake in Tenneco by 22.0% during the 2nd quarter. Private Management Group Inc. now owns 1,515,779 shares of the auto parts company’s stock valued at $26,011,000 after acquiring an additional 273,754 shares in the last quarter. Finally, Alpine Associates Management Inc. raised its stake in Tenneco by 2.0% during the 2nd quarter. Alpine Associates Management Inc. now owns 2,084,800 shares of the auto parts company’s stock valued at $35,775,000 after acquiring an additional 41,700 shares in the last quarter. Institutional investors own 83.18% of the company’s stock.

Tenneco Price Performance

TEN opened at $19.99 on Wednesday. The company has a debt-to-equity ratio of 176.21, a quick ratio of 0.60 and a current ratio of 0.91. The company has a market capitalization of $1.67 billion, a PE ratio of -7.01 and a beta of 1.73. The stock’s fifty day moving average is $18.92 and its 200-day moving average is $18.21. Tenneco Inc. has a one year low of $9.51 and a one year high of $19.99.

Tenneco (NYSE:TENGet Rating) last issued its earnings results on Monday, October 31st. The auto parts company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($1.22). The company had revenue of $4.93 billion during the quarter, compared to analyst estimates of $4.72 billion. Tenneco had a negative return on equity of 73.88% and a negative net margin of 1.28%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 earnings per share. On average, equities analysts predict that Tenneco Inc. will post 0.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Tenneco in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.00.

Tenneco Company Profile

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Tenneco Inc designs, manufactures, and sells clean air, and powertrain products and systems for light vehicle, commercial truck, off-highway, industrial, motorsport, and aftermarket customers worldwide. It operates through four segments: Motorparts, Performance Solutions, Clean Air, and Powertrain. The Motorparts segment offers shock and strut, steering and suspension, braking, sealing, emissions control, engine, and maintenance products under the Monroe, Champion, Öhlins, MOOG, Walker, Fel-Pro, Wagner, Ferodo, Rancho, Thrush, National, Sealed Power, and other brands.

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Institutional Ownership by Quarter for Tenneco (NYSE:TEN)

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