Today’s Short Interest Alert: Could Tenneco Incorporated (NYSE:TEN) Go Up After Its Newest Short Interest Report?

November 17, 2016 - By Darrin Black   ·   0 Comments

Today's Short Interest Alert: Could Tenneco Incorporated (NYSE:TEN) Go Up After Its Newest Short Interest Report?

The stock of Tenneco Incorporated (NYSE:TEN) registered an increase of 16.03% in short interest. TEN’s total short interest was 3.35M shares in November as published by FINRA. Its up 16.03% from 2.88 million shares, reported previously. With 368,800 shares average volume, it will take short sellers 9 days to cover their TEN’s short positions. The short interest to Tenneco Incorporated’s float is 6.07%. About 63,621 shares traded hands. Tenneco Inc (NYSE:TEN) has risen 15.28% since April 15, 2016 and is uptrending. It has outperformed by 10.66% the S&P500.

Tenneco Inc. is a producer of clean air and ride performance products and systems for light vehicle, commercial truck, off-highway and other vehicle applications. The company has a market cap of $3.18 billion. The Firm operates in six divisions: North America Clean Air; North America Ride Performance; Europe, South America and India Clean Air; Europe, South America and India Ride Performance; Asia Pacific Clean Air, and Asia Pacific Ride Performance. It has a 8.17 P/E ratio. The Company’s various brands include Monroe, Rancho, Clevite Elastomers, Axios, Kinetic, Fric-Rot, Walker, XNOx, Fonos, DynoMax and Thrush clean air products.

Insitutional Activity: The institutional sentiment decreased to 0.83 in Q2 2016. Its down 0.34, from 1.17 in 2016Q1. The ratio worsened, as 29 funds sold all Tenneco Inc shares owned while 102 reduced positions. 36 funds bought stakes while 73 increased positions. They now own 51.36 million shares or 3.63% less from 53.30 million shares in 2016Q1.
Baldwin Brothers Incorporated Ma has 9,823 shares for 0.09% of their US portfolio. Thrivent Financial For Lutherans, a Minnesota-based fund reported 62,076 shares. The Pennsylvania-based Twin Incorporated has invested 0.1% in Tenneco Inc (NYSE:TEN). Ironbridge Cap Management L P accumulated 0.26% or 127,812 shares. Tcw Grp holds 0.02% of its portfolio in Tenneco Inc (NYSE:TEN) for 59,903 shares. Netols Asset Mngmt last reported 118,033 shares in the company. Metropolitan Life Insur Commerce last reported 40,715 shares in the company. Robecosam Ag has 4,200 shares for 0.02% of their US portfolio. last reported 32,473 shares in the company. Parametric Portfolio Assoc Lc, a Washington-based fund reported 122,888 shares. Huntington Fincl Bank owns 20 shares or 0% of their US portfolio. Nj State Employees Deferred Compensation Plan has 0.1% invested in the company for 10,000 shares. Ridgeworth Mngmt Limited Com has invested 0% of its portfolio in Tenneco Inc (NYSE:TEN). The California-based Capital Advisers Limited has invested 0% in Tenneco Inc (NYSE:TEN). Walleye Trading Ltd Liability Company has invested 0% of its portfolio in Tenneco Inc (NYSE:TEN).

Insider Transactions: Since May 31, 2016, the stock had 0 insider purchases, and 8 selling transactions for $8.07 million net activity. The insider Harrington James D. sold 5,884 shares worth $332,623. Sherrill Gregg M also sold $2.77 million worth of Tenneco Inc (NYSE:TEN) shares. $225,240 worth of shares were sold by Kunz John E on Friday, August 26. 3,186 shares were sold by Guo Peng, worth $178,848 on Wednesday, September 14. PRICE DAVID B JR also sold $1.68 million worth of Tenneco Inc (NYSE:TEN) on Thursday, August 18. The insider Fornos Josep sold $650,770. 35,872 Tenneco Inc (NYSE:TEN) shares with value of $1.99 million were sold by JACKSON TIMOTHY E.

Tenneco Inc (NYSE:TEN) Ratings Coverage

Out of 6 analysts covering Tenneco Inc (NYSE:TEN), 2 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 33% are positive. Tenneco Inc has been the topic of 16 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The rating was maintained by Goldman Sachs with “Neutral” on Tuesday, May 3. The firm has “Equal Weight” rating given on Monday, January 25 by Barclays Capital. The firm has “Neutral” rating given on Wednesday, August 12 by Goldman Sachs. The stock has “Overweight” rating given by Barclays Capital on Thursday, February 11. The stock of Tenneco Inc (NYSE:TEN) has “Market Perform” rating given on Wednesday, April 27 by Wells Fargo. The stock of Tenneco Inc (NYSE:TEN) earned “Outperform” rating by RBC Capital Markets on Monday, October 26. RBC Capital Markets downgraded Tenneco Inc (NYSE:TEN) on Tuesday, December 15 to “Sector Perform” rating.

TEN Company Profile

Tenneco Inc. (Tenneco), incorporated on August 26, 1996, is a producer of clean air and ride performance products and systems for light vehicle, commercial truck, off-highway and other vehicle applications. The Firm serves both original equipment vehicle manufacturers (OEMs), and the repair and replacement markets or aftermarket across the world. The Firm operates in six divisions: North America Clean Air; North America Ride Performance; Europe, South America and India Clean Air; Europe, South America and India Ride Performance; Asia Pacific Clean Air, and Asia Pacific Ride Performance. The Company’s various brands include Monroe, Rancho, Clevite Elastomers, Axios, Kinetic, Fric-Rot, Walker, XNOx, Fonos, DynoMax and Thrush clean air products. As a parts supplier, it produces individual component parts for vehicles, as well as groups of components that are combined as modules or systems within vehicles. It offers modules and systems to OEMs, commercial truck and off-highway engine manufacturers, and aftermarket distribution channels.

Another recent and important Tenneco Inc (NYSE:TEN) news was published by Valuewalk.com which published an article titled: “ROIC Model Portfolio: Tenneco Inc. (TEN) Good Management Too” on October 21, 2016.

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By Darrin Black


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