SIR Capital Management L.P. lessened its stake in Tenaris SA (NYSE:TS) by 34.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 136,522 shares of the industrial products company’s stock after selling 71,720 shares during the period. SIR Capital Management L.P.’s holdings in Tenaris were worth $4,350,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FNY Partners Fund LP boosted its position in shares of Tenaris by 317.5% during the 4th quarter. FNY Partners Fund LP now owns 444,600 shares of the industrial products company’s stock valued at $14,164,000 after purchasing an additional 338,100 shares in the last quarter. Ashburton Jersey Ltd bought a new stake in shares of Tenaris during the 3rd quarter valued at about $1,822,000. Stoneridge Investment Partners LLC bought a new stake in shares of Tenaris during the 4th quarter valued at about $2,136,000. Comerica Bank boosted its position in shares of Tenaris by 4.5% during the 4th 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. boosted its position in shares of Tenaris by 35.8% during the 4th 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. Hedge funds and other institutional investors own 12.91% of the company’s stock.
Shares of Tenaris SA (NYSE:TS) traded down $0.26 on Wednesday, hitting $35.51. The company had a trading volume of 1,598,583 shares, compared to its average volume of 2,304,292. The stock has a market capitalization of $21,656.93, a P/E ratio of 38.18 and a beta of 0.72. Tenaris SA has a one year low of $25.91 and a one year high of $37.48.
Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.06. Tenaris had a return on equity of 3.92% and a net margin of 10.30%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.49 billion. equities analysts forecast that Tenaris SA will post 1.1 EPS for the current fiscal year.
TS has been the topic of several recent research reports. TheStreet upgraded Tenaris from a “c” rating to a “b-” rating in a report on Tuesday, December 12th. Barclays reiterated a “buy” rating and issued a $41.00 price target on shares of Tenaris in a report on Tuesday, February 27th. Piper Jaffray Companies reissued a “buy” rating and issued a $40.00 price objective on shares of Tenaris in a research note on Friday, February 23rd. Guggenheim reissued a “buy” rating and issued a $46.00 price objective on shares of Tenaris in a research note on Friday, March 2nd. Finally, Capital One Financial reissued an “equal weight” rating on shares of Tenaris in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $38.09.
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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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