JPMorgan Chase & Co. raised its stake in Tenaris S.A. (NYSE:TS) by 1,187.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,502 shares of the industrial products company’s stock after buying an additional 5,997 shares during the period. JPMorgan Chase & Co.’s holdings in Tenaris were worth $222,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Wetherby Asset Management Inc. boosted its stake in shares of Tenaris by 1.4% in the first quarter. Wetherby Asset Management Inc. now owns 10,555 shares of the industrial products company’s stock worth $360,000 after buying an additional 141 shares during the last quarter. World Asset Management Inc boosted 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 in the last quarter. Ameriprise Financial Inc. boosted 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 in the last quarter. Capstone Asset Management Co. boosted its position in Tenaris by 2.9% in the first quarter. Capstone Asset Management Co. now owns 34,553 shares of the industrial products company’s stock valued at $1,180,000 after buying an additional 980 shares in the last quarter. Finally, Virtu Financial LLC boosted its position in Tenaris by 17.6% in the first quarter. Virtu Financial LLC now owns 8,435 shares of the industrial products company’s stock valued at $288,000 after buying an additional 1,265 shares in the last quarter. Institutional investors and hedge funds own 18.67% of the company’s stock.
Tenaris S.A. (NYSE:TS) traded down 0.61% during trading on Friday, reaching $27.71. 1,612,766 shares of the company traded hands. The company has a market cap of $16.36 billion, a PE ratio of 49.48 and a beta of 0.63. Tenaris S.A. has a 12 month low of $25.19 and a 12 month high of $37.21. The company’s 50-day moving average is $30.86 and its 200 day moving average is $32.12.
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Several research analysts have weighed in on the stock. Scotiabank set a $40.00 target price on shares of Tenaris and gave the stock a “buy” rating in a research report on Thursday, August 3rd. BidaskClub lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Simmons restated an “overweight” rating and set a $35.50 target price (down previously from $39.00) on shares of Tenaris in a research report on Wednesday, June 21st. Cowen and Company reaffirmed a “hold” rating and set a $30.00 price target on shares of Tenaris in a research note on Tuesday, July 11th. Finally, Morgan Stanley decreased their price objective on shares of Tenaris from $44.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Tenaris currently has an average rating of “Hold” and an average target price of $35.35.
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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