Tenneco (TEN) : Traders are increasing their bearish positions on the stock, as is visible by the 23.5% jump in the outstanding short positions; a total addition of 567,911 shares on the sell side. On Jul 29, 2016, the total short positions were 2,414,909 shares, which went up to 2,982,820 shares by the close of trading on August 15, 2016. It will take 5 days for the bears to roll over or cover. An average of 573,616 shares exchange hands daily. 5.4% of the float of the stock has been sold short by the bears. The short interest information was released on Wednesday Aug 24th after the market close.
Tenneco (NYSE:TEN): The stock opened at $57.04 on Wednesday but the bulls could not build on the opening and the stock topped out at $57.20 for the day. The stock traded down to $56.16 during the day, due to lack of any buying support eventually closed down at $56.28 with a loss of -1.04% for the day. The stock had closed at $56.87 on the previous day. The total traded volume was 261,752 shares.
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.