Shares last traded at $63.56 just above the 50 day moving average of $59.66 and which is impressively higher than the 200 day moving average of $57.55. The 50 day moving average was up $3.90 and the 200 day average went up by +10.44%. (NYSE:TEN) shares saw heavy trading volume with 539K shares changing hands on Tuesday. Overall, volume was up 36.69% over the stocks normal daily volume.
Traders are a little more bullish on shares of Tenneco Inc. of late if you consider the fall in short interest. The stock saw a fall in short interest from September 15, 2017 to September 29, 2017 of -3.52%. Short shares decreased from 1,689,532 to 1,630,130 over that timeframe. With short interest at 1,630,130 and short average daily volume at 364,069, days to cover is 4.0 and the percentage of shorted shares was 0.03% on September 29.
There has been some selling insider activity on Tenneco Inc. (NYSE:TEN) recently. John E. Kunz, VP reported the sale of 6,368 shares. The shares were sold on September 27th for an average price of $61.00. Kunz now owns $0 of the stock according to the SEC filing. VP John E. Kunz sold 11,602 shares at a price of $55.91 on September 13th. Kunz now owns $0 of stock as recorded in a recent Form 4 SEC filing.
Additionally, here are a few investment firms who have increased or decreased their stake in (TEN). As of the end of the quarter Sit Investment Associates Inc had sold a total of 650 shares trimming its position 3.6%. The value of the company’s investment in Tenneco Inc. went from $1,041,000 to $1,053,000 increasing 1.2% since the last quarter. As of quarter end Shell Asset Management CO had disposed of 700 shares trimming its stake by 2.6%. The value of the investment in (TEN) increased from $1,557,000 to $1,591,000 a change of 2.2% quarter to quarter.
Diamond Hill Capital Management Inc cut its stake by shedding 17,699 shares a decrease of 3.3%. Diamond Hill Capital Management Inc now holds 515,484 shares worth $31,274,000. The total value of its holdings increased 1.4%. As of the end of the quarter Bowling Portfolio Management LLC had disposed of a total of 5,425 shares trimming its holdings by 38.9%. The value of the investment in Tenneco Inc. decreased from $807,000 to $517,000 a change of $290,000 quarter over quarter.
The company is now down since yesterday’s close of 64.01. Additionally the company declared a dividend for shareholders to be paid on Wednesday the 20th of December 2017. The dividend payment will be $0.250 per share for the quarter or $1.00 annualized. This dividend represents a yield of $1.56. The ex-dividend date will be on Wednesday the 6th of September 2017.
The most current P/E ratio is 12.37 and market cap is 3.38B. In the latest earnings report the EPS was $5.14 and is estimated to be $6.68 for the current year with 53,202,000 shares outstanding. Next quarter’s EPS is forecasted at $1.66 and the next full year EPS is anticipated to be $7.37.
Tenneco Inc., launched 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 Company designs, manufactures and distributes highly engineered products for both original equipment vehicle manufacturers (OEMs) and the repair and replacement markets, or aftermarket, across the world. The Company operates through 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. The Company serves both original equipment (OE) vehicle designers and manufacturers and the repair and replacement markets, or aftermarket, globally through brands, including Monroe, Rancho, Clevite Elastomers, Axios, Kinetic and Fric-Rot ride performance products and 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. These parts, modules and systems are sold globally to OEMs, commercial truck and off-highway engine manufacturers, and aftermarket distribution channels..