New York State Common Retirement Fund boosted its position in shares of Tenaris S.A. (NYSE:TS – Get Rating) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 148,129 shares of the industrial products company's stock after acquiring an additional 2,027 shares during the period. New York State Common Retirement Fund's holdings in Tenaris were worth $5,208,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new stake in Tenaris during the 4th quarter valued at approximately $28,000. IFP Advisors Inc grew its holdings in Tenaris by 345.2% during the 3rd quarter. IFP Advisors Inc now owns 926 shares of the industrial products company's stock valued at $45,000 after buying an additional 718 shares in the last quarter. Captrust Financial Advisors grew its holdings in Tenaris by 155.8% during the 2nd quarter. Captrust Financial Advisors now owns 1,110 shares of the industrial products company's stock valued at $29,000 after buying an additional 676 shares in the last quarter. Ronald Blue Trust Inc. grew its holdings in Tenaris by 50.7% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,278 shares of the industrial products company's stock valued at $32,000 after buying an additional 430 shares in the last quarter. Finally, Macquarie Group Ltd. purchased a new position in shares of Tenaris in the third quarter valued at $45,000. Institutional investors own 12.15% of the company's stock.
Get Tenaris alerts:Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Cowen raised their target price on shares of Tenaris from $45.00 to $49.00 in a report on Friday, February 17th. Morgan Stanley cut their target price on shares of Tenaris from $44.00 to $40.00 in a report on Tuesday, April 18th. Finally, StockNews.com lowered shares of Tenaris from a "strong-buy" rating to a "buy" rating in a report on Thursday, April 13th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Tenaris presently has an average rating of "Moderate Buy" and an average target price of $44.29.
Tenaris Stock Down 0.8 %
NYSE TS opened at $28.61 on Monday. The company has a fifty day moving average of $31.00 and a two-hundred day moving average of $32.27. The firm has a market capitalization of $16.89 billion, a price-to-earnings ratio of 6.61, a PEG ratio of 2.35 and a beta of 1.44. Tenaris S.A. has a 52 week low of $22.24 and a 52 week high of $38.00.
Tenaris (NYSE:TS – Get Rating) last posted its quarterly earnings data on Wednesday, February 15th. The industrial products company reported $1.37 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.01). Tenaris had a return on equity of 19.34% and a net margin of 21.71%. The firm had revenue of $3.62 billion for the quarter, compared to analysts' expectations of $3.60 billion. Equities research analysts anticipate that Tenaris S.A. will post 5.98 EPS for the current year.
Tenaris Profile
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Tenaris SA manufactures and supplies steel pipe products. It operates through the Tubes and Other segments. The Tubes segment consists of the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products.
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