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Tenneco, formerly Tenneco Automotive s a $5.9 billion global manufacturing company with headquarters in Lake Forest, Illinois and approximately 21,000 employees worldwide. Tenneco is one of the world’s largest designers, manufacturers and marketers of emission control and ride control products and systems for the automotive original equipment market and the aftermarket. Tenneco markets its products principally under the Monroe®, Walker® , Gillet™, Rancho, Fric Rot™, Rancho®, Fonos, Gillet™, Dynomax®, and Clevite® Elastomer brand names.
Since its price per share has risen from its all time low of .67 back in March its price per share has stabilized in a nice broad range with an upper peak of close to $18.00 with the bottom of the trading cycle usually running close to $14.50.
On November 17,2009 Tenneco Inc. Announces Public Offering of Common Stock and placed 12 million common share up for sell on the 18th starting at $16.50. On the 24th of November they announced they had completed the public offering raising approximately $187 million in net proceeds
The public absorbed that extra 12 million shares without much damage to the price per share which suggest to me that we should look for Tenneco’s stock price to rise
Links to recent press releases