Traders Purchase Large Volume of Tenaris Put Options (NYSE:TS)

Tenaris SA (NYSE:TS) was the recipient of unusually large options trading activity on Thursday. Stock investors bought 2,749 put options on the company. This represents an increase of approximately 1,998% compared to the average volume of 131 put options.

Shares of Tenaris (TS) traded down $1.10 during trading on Monday, hitting $32.72. 2,219,985 shares of the stock were exchanged, compared to its average volume of 1,761,695. The firm has a market cap of $19,962.86, a price-to-earnings ratio of 45.45 and a beta of 0.74. Tenaris has a 1-year low of $25.91 and a 1-year high of $36.33.

A number of equities analysts have commented on TS shares. Cowen set a $33.00 price objective on shares of Tenaris and gave the stock a “hold” rating in a report on Thursday, January 11th. Macquarie upgraded shares of Tenaris from an “underperform” rating to a “neutral” rating in a report on Friday, November 17th. Loop Capital boosted their price objective on shares of Tenaris from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Credit Suisse Group upgraded shares of Tenaris from an “underperform” rating to a “neutral” rating in a report on Monday, January 15th. Finally, Zacks Investment Research upgraded shares of Tenaris from a “hold” rating to a “strong-buy” rating and set a $37.00 price objective on the stock in a report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $36.39.

Several large investors have recently made changes to their positions in the stock. Aperio Group LLC grew its position in shares of Tenaris by 23.5% during the 4th quarter. Aperio Group LLC now owns 224,510 shares of the industrial products company’s stock valued at $7,153,000 after buying an additional 42,792 shares during the last quarter. Comerica Bank grew its position in shares of Tenaris by 4.5% during the 4th quarter. Comerica Bank now owns 42,004 shares of the industrial products company’s stock valued at $1,503,000 after buying an additional 1,825 shares during the last quarter. FNY Partners Fund LP grew its position in shares of Tenaris by 317.5% during the 4th quarter. FNY Partners Fund LP now owns 444,600 shares of the industrial products company’s stock valued at $14,164,000 after buying an additional 338,100 shares during the last quarter. Fox Run Management L.L.C. grew its position in shares of Tenaris by 35.8% during the 4th quarter. Fox Run Management L.L.C. now owns 22,000 shares of the industrial products company’s stock valued at $701,000 after buying an additional 5,800 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Tenaris during the 3rd quarter valued at about $1,161,000. 15.11% of the stock is owned by institutional investors and hedge funds.

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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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