First Mercantile Trust Co buys $1,346,722 stake in Tenneco Inc (TEN)

Tenneco Inc (TEN) : First Mercantile Trust Co scooped up 18,900 additional shares in Tenneco Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 23,503 shares of Tenneco Inc which is valued at $1,346,722.Tenneco Inc makes up approximately 0.18% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa boosted its stake in TEN in the latest quarter, The investment management firm added 19,326 additional shares and now holds a total of 77,185 shares of Tenneco Inc which is valued at $4,573,211. Tenneco Inc makes up approx 0.02% of Bnp Paribas Arbitrage Sa’s portfolio.

Tenneco Inc closed down -1.53 points or -2.60% at $57.3 with 6,35,575 shares getting traded on Friday. Post opening the session at $58.77, the shares hit an intraday low of $56.885 and an intraday high of $58.78 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Tenneco Inc reported $1.78 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Jul 29, 2016. Analyst had a consensus of $1.63. The company had revenue of $2212.00 million for the quarter, compared to analysts expectations of $2253.70 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 EPS.

Many Wall Street Analysts have commented on Tenneco Inc. Company shares were Reiterated by Deutsche Bank on Aug 1, 2016 to “Hold”, Firm has raised the Price Target to $ 70 from a previous price target of $67 .

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 serves both original equipment vehicle manufacturers (OEMs) and the repair and replacement markets or aftermarket across the world. 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. The Company’s various brands include Monroe Rancho Clevite Elastomers Marzocchi Axios Kinetic and Fric-Rot 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.

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