BidaskClub downgraded shares of Tenaris S.A. (NYSE:TS) from a hold rating to a sell rating in a research report report published on Saturday, August 5th.
Several other equities research analysts have also commented on TS. Zacks Investment Research upgraded Tenaris from a strong sell rating to a hold rating in a research note on Saturday, April 29th. Cowen and Company restated a hold rating and issued a $30.00 price objective on shares of Tenaris in a research note on Tuesday, July 11th. Loop Capital upgraded Tenaris from a hold rating to a buy rating and set a $39.00 price objective for the company in a research note on Wednesday, May 17th. Simmons restated an overweight rating and issued a $35.50 price objective (down from $39.00) on shares of Tenaris in a research note on Wednesday, June 21st. Finally, Morgan Stanley cut their price target on Tenaris from $44.00 to $38.00 and set an overweight rating for the company in a research note on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $35.35.
Tenaris (TS) traded up 0.89% on Friday, hitting $27.21. The company had a trading volume of 1,323,222 shares. The stock has a 50 day moving average of $30.36 and a 200-day moving average of $31.74. The stock has a market capitalization of $16.06 billion, a PE ratio of 48.59 and a beta of 0.63. Tenaris has a one year low of $25.19 and a one year high of $37.21.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MARSHALL WACE ASIA Ltd bought a new position in Tenaris during the first quarter valued at approximately $47,489,000. Marshall Wace North America L.P. bought a new position in Tenaris during the first quarter valued at approximately $47,489,000. Renaissance Technologies LLC bought a new position in Tenaris during the first quarter valued at approximately $32,539,000. Wells Fargo & Company MN increased its position in Tenaris by 95.8% in the first quarter. Wells Fargo & Company MN now owns 1,548,753 shares of the industrial products company’s stock valued at $52,875,000 after buying an additional 757,748 shares during the period. Finally, Ruffer LLP increased its position in Tenaris by 20.4% in the first quarter. Ruffer LLP now owns 3,137,174 shares of the industrial products company’s stock valued at $104,916,000 after buying an additional 532,168 shares during the period. 17.59% of the stock is owned by institutional investors and hedge funds.
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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