Citigroup Inc. Purchases 376,796 Shares of Tenneco Inc. (NYSE:TEN)

Citigroup Inc. lifted its position in shares of Tenneco Inc. (NYSE:TENGet Rating) by 2,003.2% during the first quarter, Holdings Channel reports. The institutional investor owned 395,606 shares of the auto parts company’s stock after purchasing an additional 376,796 shares during the period. Citigroup Inc.’s holdings in Tenneco were worth $7,247,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in shares of Tenneco in the first quarter valued at about $227,000. Gladius Capital Management LP purchased a new position in Tenneco in the 1st quarter worth approximately $235,000. ProShare Advisors LLC bought a new position in Tenneco in the 4th quarter worth approximately $168,000. Mutual Advisors LLC grew its holdings in Tenneco by 110.7% during the 4th quarter. Mutual Advisors LLC now owns 51,400 shares of the auto parts company’s stock valued at $581,000 after buying an additional 27,000 shares in the last quarter. Finally, Atlas Capital Advisors LLC raised its position in shares of Tenneco by 363.5% during the first quarter. Atlas Capital Advisors LLC now owns 7,718 shares of the auto parts company’s stock valued at $141,000 after buying an additional 6,053 shares during the last quarter. Institutional investors own 83.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. started coverage on shares of Tenneco in a research report on Tuesday, June 28th. They set an “overweight” rating and a $20.00 target price for the company. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Tenneco currently has a consensus rating of “Hold” and a consensus target price of $20.00.

Tenneco Stock Performance

NYSE:TEN opened at $18.41 on Wednesday. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -8.56 and a beta of 1.79. Tenneco Inc. has a 1 year low of $9.51 and a 1 year high of $19.50. The stock’s 50 day simple moving average is $18.68 and its two-hundred day simple moving average is $17.53. The company has a debt-to-equity ratio of 176.21, a current ratio of 1.18 and a quick ratio of 0.76.

Tenneco Profile

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Tenneco Inc designs, manufactures, and sells clean air, and powertrain products and systems for light vehicle, commercial truck, off-highway, industrial, motorsport, and aftermarket customers worldwide. It operates through four segments: Motorparts, Performance Solutions, Clean Air, and Powertrain. The Motorparts segment offers shock and strut, steering and suspension, braking, sealing, emissions control, engine, and maintenance products under the Monroe, Champion, Öhlins, MOOG, Walker, Fel-Pro, Wagner, Ferodo, Rancho, Thrush, National, Sealed Power, and other brands.

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Institutional Ownership by Quarter for Tenneco (NYSE:TEN)

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