Oppenheimer Asset Management Inc. Purchases 1,646 Shares of Tenaris S.A. (TS)
Oppenheimer Asset Management Inc. increased its position in shares of Tenaris S.A. (NYSE:TS) by 4.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,449 shares of the industrial products company’s stock after buying an additional 1,646 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Tenaris were worth $1,228,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Deprince Race & Zollo Inc. grew its position in Tenaris by 326.1% during the first quarter. Deprince Race & Zollo Inc. now owns 143,380 shares of the industrial products company’s stock worth $4,895,000 after buying an additional 109,730 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Tenaris by 2.2% during the first quarter. Parametric Portfolio Associates LLC now owns 286,864 shares of the industrial products company’s stock valued at $9,794,000 after purchasing an additional 6,197 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Tenaris by 165.4% during the first quarter. SG Americas Securities LLC now owns 56,680 shares of the industrial products company’s stock valued at $1,935,000 after purchasing an additional 35,326 shares in the last quarter. Credit Suisse AG boosted its holdings in Tenaris by 341.0% during the first quarter. Credit Suisse AG now owns 348,612 shares of the industrial products company’s stock valued at $11,902,000 after purchasing an additional 269,568 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Tenaris by 1.8% during the first quarter. Ameriprise Financial Inc. now owns 33,999 shares of the industrial products company’s stock valued at $1,161,000 after purchasing an additional 608 shares in the last quarter. 15.98% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on TS. BidaskClub downgraded Tenaris from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Berenberg Bank reaffirmed a “hold” rating and set a $30.00 price objective on shares of Tenaris in a report on Monday, August 7th. Cowen and Company set a $28.00 price objective on Tenaris and gave the company a “hold” rating in a report on Friday, August 4th. Scotiabank set a $40.00 price objective on Tenaris and gave the company a “buy” rating in a report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $35.35.
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Tenaris S.A. (NYSE:TS) opened at 27.70 on Friday. The company has a market cap of $16.35 billion, a PE ratio of 49.46 and a beta of 0.64. The stock has a 50 day moving average of $28.50 and a 200-day moving average of $31.02. Tenaris S.A. has a 1-year low of $25.19 and a 1-year high of $37.21.
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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