Luminus Management LLC grew its stake in Tenaris (NYSE:TS) by 30.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,562,689 shares of the industrial products company’s stock after purchasing an additional 826,285 shares during the period. Tenaris comprises about 2.4% of Luminus Management LLC’s investment portfolio, making the stock its 9th biggest position. Luminus Management LLC owned about 0.60% of Tenaris worth $113,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Oppenheimer & Co. Inc. bought a new position in Tenaris during the 4th quarter valued at about $213,000. Two Sigma Securities LLC acquired a new position in shares of Tenaris in the fourth quarter valued at approximately $225,000. FDx Advisors Inc. acquired a new position in shares of Tenaris in the third quarter valued at approximately $243,000. Tower Research Capital LLC TRC boosted its holdings in shares of Tenaris by 934.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,172 shares of the industrial products company’s stock valued at $292,000 after buying an additional 8,285 shares during the period. Finally, Fox Run Management L.L.C. lifted its position in shares of Tenaris by 35.8% in the fourth quarter. Fox Run Management L.L.C. now owns 22,000 shares of the industrial products company’s stock worth $701,000 after purchasing an additional 5,800 shares in the last quarter. Institutional investors own 12.91% of the company’s stock.
A number of analysts have recently commented on the stock. Piper Jaffray Companies set a $40.00 price objective on shares of Tenaris and gave the stock a “buy” rating in a research report on Saturday, March 10th. UBS raised shares of Tenaris from a “sell” rating to a “hold” rating and set a $38.00 price target on the stock in a research report on Friday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $34.50 price objective (up from $33.00) on shares of Tenaris in a research report on Wednesday, February 21st. Cowen set a $33.00 price target on shares of Tenaris and gave the company a “hold” rating in a research note on Thursday, January 11th. Finally, Barclays restated a “buy” rating and issued a $41.00 price target on shares of Tenaris in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $38.08.
Tenaris stock traded down $0.16 on Monday, reaching $35.32. 483,392 shares of the company’s stock were exchanged, compared to its average volume of 2,241,289. The stock has a market cap of $20,942.71, a P/E ratio of 46.08 and a beta of 0.72. Tenaris has a 1 year low of $25.91 and a 1 year high of $37.48.
Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.06. Tenaris had a return on equity of 3.92% and a net margin of 10.30%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.49 billion. analysts anticipate that Tenaris will post 1.1 earnings per share for the current fiscal year.
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Tenaris SA 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 products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, tubular and non-tubular accessories, and devices.
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