Tenaris S.A. (NYSE:TS) Short Interest Down 20.4% in August

Tenaris S.A. (NYSE:TS) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 2,500,000 shares, a decrease of 20.4% from the August 15th total of 3,140,000 shares. Based on an average trading volume of 1,930,000 shares, the short-interest ratio is currently 1.3 days. Approximately 0.4% of the shares of the stock are sold short.

Analysts Set New Price Targets

TS has been the subject of a number of recent analyst reports. Jefferies Financial Group began coverage on Tenaris in a report on Wednesday, June 28th. They issued a “buy” rating and a $41.80 target price for the company. StockNews.com started coverage on shares of Tenaris in a research note on Saturday, August 19th. They issued a “strong-buy” rating for the company. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tenaris currently has a consensus rating of “Buy” and an average price target of $43.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TS. Captrust Financial Advisors grew its position in shares of Tenaris by 155.8% in the second quarter. Captrust Financial Advisors now owns 1,110 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 676 shares during the period. Belpointe Asset Management LLC acquired a new position in shares of Tenaris during the 4th quarter valued at about $38,000. Macquarie Group Ltd. acquired a new position in shares of Tenaris during the 3rd quarter valued at about $45,000. Clear Street Markets LLC purchased a new position in shares of Tenaris during the 4th quarter worth about $59,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Tenaris in the second quarter worth approximately $76,000. 11.58% of the stock is currently owned by hedge funds and other institutional investors.

Tenaris Trading Up 0.1 %

Shares of TS stock traded up $0.04 during trading hours on Monday, hitting $32.67. The company’s stock had a trading volume of 1,715,873 shares, compared to its average volume of 2,176,206. Tenaris has a twelve month low of $23.95 and a twelve month high of $38.00. The stock has a market cap of $19.28 billion, a price-to-earnings ratio of 5.28, a P/E/G ratio of 2.66 and a beta of 1.52. The business has a fifty day moving average of $32.66 and a 200-day moving average of $29.97.

Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.27. Tenaris had a return on equity of 25.13% and a net margin of 24.75%. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter last year, the business posted $1.08 earnings per share. Tenaris’s revenue was up 45.5% compared to the same quarter last year. On average, equities analysts expect that Tenaris will post 6.04 EPS for the current fiscal year.

Tenaris Company Profile

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.