Could Tenneco Inc (NYSE:TEN) Change Direction After More Shorts?

April 16, 2018 - By Adrian Erickson

Tenneco Inc. (NYSE:TEN) Logo

Investors sentiment decreased to 0.95 in 2017 Q4. Its down 0.04, from 0.99 in 2017Q3. It dived, as 24 investors sold Tenneco Inc. shares while 93 reduced holdings. 26 funds opened positions while 85 raised stakes. 46.48 million shares or 2.80% less from 47.82 million shares in 2017Q3 were reported.
Meeder Asset Mgmt Inc owns 0% invested in Tenneco Inc. (NYSE:TEN) for 941 shares. Millennium Management Limited stated it has 309,305 shares or 0.02% of all its holdings. Envestnet Asset Mngmt accumulated 15,077 shares or 0% of the stock. Amer Gp Inc holds 0.01% of its portfolio in Tenneco Inc. (NYSE:TEN) for 34,334 shares. Argi Investment Llc invested 0.04% of its portfolio in Tenneco Inc. (NYSE:TEN). Metropolitan Life Insur New York stated it has 0.01% of its portfolio in Tenneco Inc. (NYSE:TEN). Kempen Management Nv has invested 0.29% in Tenneco Inc. (NYSE:TEN). Moreover, Whittier Co has 0.04% invested in Tenneco Inc. (NYSE:TEN) for 21,673 shares. Putnam Invests Ltd invested in 26,800 shares. Principal Fin Grp Inc Incorporated invested in 179,917 shares or 0.01% of the stock. Teachers Retirement Systems Of The State Of Kentucky invested 0.02% of its portfolio in Tenneco Inc. (NYSE:TEN). Morgan Stanley stated it has 443,666 shares or 0.01% of all its holdings. Bluemountain Ltd Llc holds 0.16% or 136,747 shares. Cornercap Inv Counsel stated it has 31,825 shares. Wells Fargo And Mn reported 334,978 shares.

Since December 13, 2017, it had 0 insider purchases, and 1 insider sale for $320,629 activity.

The stock of Tenneco Inc (NYSE:TEN) registered an increase of 32.16% in short interest. TEN’s total short interest was 1.45 million shares in April as published by FINRA. Its up 32.16% from 1.10 million shares, reported previously. With 501,800 shares average volume, it will take short sellers 3 days to cover their TEN’s short positions. The short interest to Tenneco Inc’s float is 2.88%.

The stock increased 2.23% or $1.15 during the last trading session, reaching $52.83. About 385,686 shares traded. Tenneco Inc. (NYSE:TEN) has declined 15.35% since April 16, 2017 and is downtrending. It has underperformed by 26.90% 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 $2.72 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 13.51 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 8 analysts covering Tenneco Automotive (NYSE:TEN), 3 have Buy rating, 0 Sell and 5 Hold. Therefore 38% are positive. Tenneco Automotive had 12 analyst reports since October 24, 2017 according to SRatingsIntel. The firm has “Market Perform” rating given on Monday, October 30 by Wells Fargo. The stock of Tenneco Inc. (NYSE:TEN) has “Neutral” rating given on Friday, April 13 by Goldman Sachs. The stock has “Hold” rating by Jefferies on Tuesday, October 24. The stock has “Hold” rating by RBC Capital Markets on Tuesday, December 19. RBC Capital Markets maintained it with “Hold” rating and $61.0 target in Friday, October 27 report. Wells Fargo maintained Tenneco Inc. (NYSE:TEN) on Monday, February 12 with “Market Perform” rating. The firm has “Hold” rating by RBC Capital Markets given on Wednesday, April 11. The rating was maintained by KeyBanc Capital Markets on Monday, October 30 with “Buy”. The rating was maintained by Guggenheim on Monday, February 12 with “Buy”. The firm earned “Hold” rating on Wednesday, April 11 by Deutsche Bank.

Tenneco Inc. (NYSE:TEN) Institutional Positions Chart

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