Shares of Tenneco (TEN) Sees Large Outflow of Money

Tenneco (TEN) : Net money flow in Tenneco (TEN) was negative ($0.65 million) and the inflow of money on uptick was $0.6 million, whereas, the outflow of money on downticks amounted to $1.25 million on Tuesday. The traders used every opportunity of price strength in the stock to sell their positions, hence, the total uptick to downtick ratio was 0.48. The block trades show that the large investors, were aggressive sellers in the stock. On the other hand, the total value of block trades done on downticks was $0.1 million. The money flow in block trades was negative ($0). Tenneco (TEN) gained $0.49 cent during the day and reached $56.84, a gain of 0.87% over the previous day.


Also, Equity Analysts at the Deutsche Bank maintains the rating on Tenneco (NYSE:TEN). The brokerage firm has issued a Hold rating on the shares. The Analysts at the ratings agency raises the price target from $67 per share to $70 per share. The rating by the firm was issued on August 1, 2016.

Tenneco Inc. has dropped 0.88% in the last five trading days, however, the shares have posted positive gains of 0.14% in the last 4 weeks. Tenneco Inc. is up 7.31% in the last 3-month period. Year-to-Date the stock performance stands at 22.78%.

Tenneco (NYSE:TEN): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $56.13 and $55.86 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $57.24. The buying momentum continued till the end and the stock did not give up its gains. It closed at $56.37, notching a gain of 0.04% for the day. The total traded volume was 343,839 . The stock had closed at $56.35 on the previous day.

In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (Chairman & CEO) of Tenneco Inc, Sherrill Gregg M had sold 51,609 shares worth of $2,798,240 in a transaction dated May 31, 2016. In this transaction, 51,609 shares were sold at $54.22 per share.

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 Companys 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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.