What Next for Tenneco Inc (NYSE:TEN) Stock After Decrease in Shorted Shares?

July 14, 2018 - By Robert Crowder

Tenneco Inc. (NYSE:TEN) Logo

Investors sentiment increased to 1.3 in Q1 2018. Its up 0.35, from 0.95 in 2017Q4. It improved, as 15 investors sold Tenneco Inc. shares while 83 reduced holdings. 41 funds opened positions while 86 raised stakes. 46.74 million shares or 0.57% more from 46.48 million shares in 2017Q4 were reported.
Fdx Advsrs Inc invested in 9,779 shares or 0.02% of the stock. First National Bank & Trust Of Omaha holds 0.14% in Tenneco Inc. (NYSE:TEN) or 46,422 shares. Quantbot Techs L P owns 2,816 shares. Proshare Advsrs Ltd Liability reported 6,834 shares. Dekabank Deutsche Girozentrale has invested 0% of its portfolio in Tenneco Inc. (NYSE:TEN). Bluemountain Limited owns 32,077 shares. 49,270 are owned by Paloma Management Company. Fny Managed Accounts Limited Liability stated it has 0.01% in Tenneco Inc. (NYSE:TEN). Washington Trust State Bank stated it has 0% in Tenneco Inc. (NYSE:TEN). 4.36M were accumulated by Vanguard Grp Inc Inc. Fuller And Thaler Asset Management, California-based fund reported 122,700 shares. Regions Fincl invested in 0% or 10 shares. 764 were accumulated by Fifth Third Fincl Bank. Great West Life Assurance Can reported 6,422 shares or 0% of all its holdings. Foundry Prns Ltd Llc holds 0.06% of its portfolio in Tenneco Inc. (NYSE:TEN) for 24,670 shares.

Since May 11, 2018, it had 1 insider purchase, and 0 selling transactions for $1.00 million activity.

The stock of Tenneco Inc (NYSE:TEN) registered a decrease of 17.98% in short interest. TEN’s total short interest was 1.33 million shares in July as published by FINRA. Its down 17.98% from 1.62M shares, reported previously. With 945,900 shares average volume, it will take short sellers 1 days to cover their TEN’s short positions. The short interest to Tenneco Inc’s float is 2.65%.

The stock increased 1.35% or $0.58 during the last trading session, reaching $43.69. About 421,219 shares traded. Tenneco Inc. (NYSE:TEN) has declined 16.26% since July 14, 2017 and is downtrending. It has underperformed by 28.83% the S&P500.

Tenneco Inc. designs, manufactures, and distributes clean air and ride performance products and systems for light vehicle, commercial truck, off-highway, and other vehicle applications worldwide. The company has market cap of $2.25 billion. The firm offers various vehicle emission control products and systems, including catalytic converters and diesel oxidation catalysts, diesel particulate filters, burner systems, lean nitrogen oxide traps, hydrocarbon vaporizers and injectors, selective catalytic reduction (SCR)systems, SCR-coated diesel particulate filters (SDPF) systems, urea dosing systems, four-way catalysts, alternative NOx reduction technologies, mufflers and resonators, fabricated exhaust manifolds, pipes, hydroformed assemblies, elastomeric hangers and isolators, and after treatment control units. It has a 11.08 P/E ratio. It also provides ride performance products and systems, such as shock absorbers; struts; vibration control components; kinetic suspension technology systems, dual-mode suspension solutions, semi-active and active suspension systems, and kinetic H2/CVSA continuously variable semi active suspension systems; and other ride performance products comprising load assist products, springs, steering stabilizers, adjustable suspension systems, suspension kits, and modular assemblies.

Tenneco Inc. (NYSE:TEN) Ratings Coverage

Among 6 analysts covering Tenneco Automotive (NYSE:TEN), 1 have Buy rating, 0 Sell and 5 Hold. Therefore 17% are positive. Tenneco Automotive has $70.0 highest and $60 lowest target. $64’s average target is 46.49% above currents $43.69 stock price. Tenneco Automotive had 7 analyst reports since February 9, 2018 according to SRatingsIntel. On Monday, February 12 the stock rating was maintained by Wells Fargo with “Market Perform”. The firm earned “Hold” rating on Friday, February 9 by RBC Capital Markets. As per Friday, April 13, the company rating was downgraded by Goldman Sachs. The stock has “Buy” rating by Guggenheim on Monday, February 12. The firm has “Equal-Weight” rating by Morgan Stanley given on Wednesday, May 9. On Wednesday, April 11 the stock rating was maintained by Deutsche Bank with “Hold”. The stock of Tenneco Inc. (NYSE:TEN) has “Hold” rating given on Wednesday, April 11 by RBC Capital Markets.

Another recent and important Tenneco Inc. (NYSE:TEN) news was published by Prnewswire.com which published an article titled: “SHAREHOLDER ALERT: Monteverde & Associates PC Announces An Investigation Of Tenneco, Inc. – TEN” on June 28, 2018.

Tenneco Inc. (NYSE:TEN) Institutional Positions Chart

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