Profund Advisors LLC boosted its position in shares of Tenaris SA (NYSE:TS) by 18.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 36,696 shares of the industrial products company’s stock after buying an additional 5,652 shares during the period. Profund Advisors LLC’s holdings in Tenaris were worth $1,169,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. FNY Partners Fund LP increased its stake in Tenaris by 317.5% during the 4th quarter. FNY Partners Fund LP now owns 444,600 shares of the industrial products company’s stock worth $14,164,000 after buying an additional 338,100 shares in the last quarter. Ashburton Jersey Ltd purchased a new stake in Tenaris during the 3rd quarter worth approximately $1,822,000. Stoneridge Investment Partners LLC purchased a new stake in Tenaris during the 4th quarter worth approximately $2,136,000. Comerica Bank grew its position in shares of Tenaris by 4.5% in the fourth quarter. Comerica Bank now owns 42,004 shares of the industrial products company’s stock valued at $1,503,000 after purchasing an additional 1,825 shares in the last quarter. Finally, Fox Run Management L.L.C. grew its position in shares of Tenaris by 35.8% in the fourth quarter. Fox Run Management L.L.C. now owns 22,000 shares of the industrial products company’s stock valued at $701,000 after purchasing an additional 5,800 shares in the last quarter. Institutional investors own 12.91% of the company’s stock.
A number of equities research analysts have recently issued reports on TS shares. Credit Suisse Group upgraded Tenaris from an “underperform” rating to a “neutral” rating in a research report on Monday, January 15th. Macquarie upgraded Tenaris from an “underperform” rating to a “neutral” rating in a research report on Friday, November 17th. Zacks Investment Research upgraded Tenaris from a “hold” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research report on Thursday, March 1st. Morgan Stanley upped their price target on Tenaris from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Finally, Cowen set a $35.00 price target on Tenaris and gave the company a “hold” rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $38.09.
Tenaris (NYSE:TS) last issued its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.06. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.49 billion. Tenaris had a return on equity of 3.92% and a net margin of 10.30%. analysts expect that Tenaris SA will post 1.1 EPS for the current fiscal year.
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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