Energy Opportunities Capital Management LLC reduced its position in Tenaris S.A. (NYSE:TS) by 43.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,065 shares of the industrial products company’s stock after selling 74,988 shares during the period. Tenaris makes up approximately 1.7% of Energy Opportunities Capital Management LLC’s holdings, making the stock its 23rd largest holding. Energy Opportunities Capital Management LLC’s holdings in Tenaris were worth $3,054,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of Tenaris by 1,187.5% in the 1st quarter. JPMorgan Chase & Co. now owns 6,502 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 5,997 shares in the last quarter. D.A. Davidson & CO. lifted its stake in shares of Tenaris by 15.0% in the 2nd quarter. D.A. Davidson & CO. now owns 7,742 shares of the industrial products company’s stock valued at $241,000 after purchasing an additional 1,011 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of Tenaris in the 1st quarter valued at about $251,000. Airain ltd acquired a new position in shares of Tenaris in the 2nd quarter valued at about $264,000. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Tenaris by 7.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,793 shares of the industrial products company’s stock valued at $274,000 after purchasing an additional 593 shares in the last quarter. 15.97% of the stock is currently owned by institutional investors and hedge funds.
TS has been the topic of several research analyst reports. Zacks Investment Research raised Tenaris from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Tuesday, July 18th. Cowen and Company set a $28.00 price objective on Tenaris and gave the company a “hold” rating in a research note on Friday, October 6th. BidaskClub lowered Tenaris from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Simmons reaffirmed an “overweight” rating and issued a $35.50 price objective (down from $39.00) on shares of Tenaris in a research note on Wednesday, June 21st. Finally, Morgan Stanley reduced their price objective on Tenaris from $44.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $35.35.
Shares of Tenaris S.A. (TS) traded up 1.70% during midday trading on Friday, hitting $27.50. The company had a trading volume of 809,828 shares. The company’s 50 day moving average is $27.92 and its 200 day moving average is $30.31. Tenaris S.A. has a one year low of $26.48 and a one year high of $37.21. The firm has a market cap of $16.23 billion, a price-to-earnings ratio of 49.11 and a beta of 0.66.
Tenaris Company Profile
Tenaris SA is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products.
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