State Street Corp raised its stake in Tenneco Inc. (NYSE:TEN) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,087,304 shares of the company’s stock after buying an additional 9,004 shares during the period. State Street Corp owned about 1.89% of Tenneco worth $56,006,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the company. Bancorpsouth Inc. acquired a new stake in Tenneco during the first quarter valued at approximately $234,000. Acrospire Investment Management LLC acquired a new stake in Tenneco during the first quarter valued at approximately $327,000. Algert Global LLC acquired a new stake in Tenneco during the first quarter valued at approximately $382,000. BlackRock Inc. raised its stake in Tenneco by 122.6% in the first quarter. BlackRock Inc. now owns 9,256 shares of the company’s stock valued at $477,000 after buying an additional 5,098 shares during the last quarter. Finally, Boston Advisors LLC raised its stake in Tenneco by 0.6% in the first quarter. Boston Advisors LLC now owns 10,675 shares of the company’s stock valued at $550,000 after buying an additional 60 shares during the last quarter.
Tenneco Inc. (NYSE:TEN) traded down 0.18% on Wednesday, hitting $54.66. 488,417 shares of the stock traded hands. Tenneco Inc. has a 12 month low of $34.45 and a 12 month high of $57.73. The firm has a 50-day moving average price of $50.99 and a 200-day moving average price of $48.16. The company has a market capitalization of $3.13 billion and a PE ratio of 12.68.
Several equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Tenneco from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Thursday, April 28th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $57.00 target price (up previously from $46.00) on shares of Tenneco in a research note on Tuesday, May 3rd. Barclays PLC reiterated an “overweight” rating and issued a $58.00 target price (down previously from $60.00) on shares of Tenneco in a research note on Tuesday, July 19th. Morgan Stanley reiterated a “sell” rating on shares of Tenneco in a research note on Sunday, May 22nd. Finally, Wells Fargo & Co. downgraded shares of Tenneco from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $54.50 to $57.50 in a research note on Wednesday, April 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $61.83.
In other Tenneco news, CEO Gregg M. Sherrill sold 80,672 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $53.20, for a total transaction of $4,291,750.40. Following the transaction, the chief executive officer now owns 469,256 shares of the company’s stock, valued at approximately $24,964,419.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregg M. Sherrill sold 51,609 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $53.69, for a total transaction of $2,770,887.21. Following the transaction, the chief executive officer now directly owns 335,780 shares in the company, valued at approximately $18,028,028.20. The disclosure for this sale can be found here.
Tenneco Inc (Tenneco) 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 operates in six segments: 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.
