Noteworthy Ownership Action: 2016 Q2 Sentiment Tenneco Inc (NYSE:TEN)

November 30, 2016 - By Winifred Garcia   ·   0 Comments

Noteworthy Ownership Action:  2016 Q2 Sentiment Tenneco Inc (NYSE:TEN)

Sentiment for Tenneco Inc (NYSE:TEN)

Tenneco Inc (NYSE:TEN) institutional sentiment increased to 0.91 in 2016 Q2. Its up 0.08, from 0.83 in 2016Q1. The ratio is more positive, as 109 investment managers opened new and increased stock positions, while 131 sold and reduced equity positions in Tenneco Inc. The investment managers in our partner’s database now hold: 51.36 million shares, down from 53.30 million shares in 2016Q1. Also, the number of investment managers holding Tenneco Inc in their top 10 stock positions was flat from 0 to 0 for the same number . Sold All: 29 Reduced: 102 Increased: 73 New Position: 36.

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 $3.25 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 8.69 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.

About 77,428 shares traded hands. Tenneco Inc (NYSE:TEN) has risen 7.25% since April 27, 2016 and is uptrending. It has outperformed by 2.03% the S&P500.

Analysts await Tenneco Inc (NYSE:TEN) to report earnings on February, 14. They expect $1.41 EPS, up 1.44% or $0.02 from last year’s $1.39 per share. TEN’s profit will be $76.76M for 10.59 P/E if the $1.41 EPS becomes a reality. After $1.53 actual EPS reported by Tenneco Inc for the previous quarter, Wall Street now forecasts -7.84% negative EPS growth.

According to Zacks Investment Research, “Tenneco is one of the world’s largest designers, manufacturers and marketers of emission control and ride control products and systems for the automotive original equipment market and the aftermarket. Tenneco markets its products principally under the Monroe, Walker, Gillet and CleviteElastomer brand names. Among its products are Sensa-Trac and Monroe Reflex shocks and struts, Rancho shock absorbers, Walker Quiet-Flow mufflers, Dynomax performance exhaust products, and Clevite®Elastomer noise, vibration and harshness control components.”

Lyrical Asset Management Lp holds 2.06% of its portfolio in Tenneco Inc for 2.12 million shares. Southernsun Asset Management Llc owns 1.55 million shares or 1.89% of their US portfolio. Moreover, Netols Asset Management Inc. has 1.24% invested in the company for 118,033 shares. The Massachusetts-based Delphi Management Inc Ma has invested 1.23% in the stock. Arbor Capital Management Llc, a Minnesota-based fund reported 49,530 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 insider purchases, and 7 selling transactions for $5.30 million net activity.

Tenneco Inc (NYSE:TEN) Ratings Coverage

Ratings analysis reveals 33% of Tenneco Inc’s analysts are positive. Out of 6 Wall Street analysts rating Tenneco Inc, 2 give it “Buy”, 0 “Sell” rating, while 4 recommend “Hold”. The lowest target is $50 while the high is $73. The stock’s average target of $60.43 is 1.22% above today’s ($59.7) share price. TEN was included in 16 notes of analysts from July 30, 2015. The rating was downgraded by Wells Fargo on Wednesday, April 27 to “Market Perform”. The rating was maintained by RBC Capital Markets with “Outperform” on Monday, October 26. The rating was downgraded by RBC Capital Markets on Tuesday, December 15 to “Sector Perform”. Goldman Sachs upgraded the stock to “Neutral” rating in Wednesday, August 12 report. On Monday, January 25 the stock rating was maintained by Barclays Capital with “Equal Weight”. The rating was maintained by Goldman Sachs on Tuesday, May 3 with “Neutral”. Barclays Capital upgraded the stock to “Overweight” rating in Thursday, February 11 report.

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 Benzinga.com which published an article titled: “Jefferies Favors BorgWarner And Delphi, Neutral On Tenneco” on November 30, 2016.

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By Winifred Garcia

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