BidaskClub cut shares of Tenaris S.A. (NYSE:TS) from a buy rating to a hold rating in a research note published on Tuesday.
Other research analysts have also issued research reports about the stock. Loop Capital raised shares of Tenaris from a hold rating to a buy rating and set a $39.00 target price for the company in a research note on Wednesday, May 17th. Scotiabank set a $40.00 target price on shares of Tenaris and gave the stock a buy rating in a research note on Saturday, April 1st. Cowen and Company reaffirmed a hold rating and set a $30.00 target price on shares of Tenaris in a research note on Tuesday, July 11th. Simmons reaffirmed an overweight rating and set a $35.50 target price (down previously from $39.00) on shares of Tenaris in a research note on Wednesday, June 21st. Finally, Zacks Investment Research raised shares of Tenaris from a strong sell rating to a hold rating in a research note on Saturday, April 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $36.17.
Shares of Tenaris (NYSE TS) opened at 31.94 on Tuesday. The firm has a 50-day moving average of $31.24 and a 200 day moving average of $32.56. Tenaris has a 52-week low of $25.19 and a 52-week high of $37.21. The stock has a market capitalization of $18.85 billion, a PE ratio of 77.90 and a beta of 0.63.
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Several hedge funds and other institutional investors have recently bought and sold shares of TS. Wetherby Asset Management Inc. raised its position in Tenaris by 1.4% in the first quarter. Wetherby Asset Management Inc. now owns 10,555 shares of the industrial products company’s stock valued at $360,000 after buying an additional 141 shares during the last quarter. Bank of Montreal Can raised its position in Tenaris by 0.7% in the second quarter. Bank of Montreal Can now owns 26,608 shares of the industrial products company’s stock valued at $829,000 after buying an additional 176 shares during the last quarter. DnB Asset Management AS raised its position in Tenaris by 1.9% in the second quarter. DnB Asset Management AS now owns 10,900 shares of the industrial products company’s stock valued at $339,000 after buying an additional 200 shares during the last quarter. World Asset Management Inc raised its position in Tenaris by 1.4% in the first quarter. World Asset Management Inc now owns 36,776 shares of the industrial products company’s stock valued at $1,256,000 after buying an additional 501 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Tenaris by 1.8% in the first quarter. Ameriprise Financial Inc. now owns 33,999 shares of the industrial products company’s stock valued at $1,161,000 after buying an additional 608 shares during the last quarter. 18.74% of the stock is owned by institutional investors and hedge funds.
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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