20,108 Shares in Tenaris S.A. (TS) Acquired by HAP Trading LLC
HAP Trading LLC purchased a new stake in Tenaris S.A. (NYSE:TS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,108 shares of the industrial products company’s stock, valued at approximately $626,000.
Several other hedge funds have also recently made changes to their positions in the company. Marathon Trading Investment Management LLC bought a new stake in Tenaris in the 1st quarter valued at $205,000. Timber Hill LLC bought a new stake in Tenaris in the 1st quarter valued at $205,000. JPMorgan Chase & Co. lifted its position in Tenaris by 1,187.5% in the 1st quarter. JPMorgan Chase & Co. now owns 6,502 shares of the industrial products company’s stock valued at $222,000 after acquiring an additional 5,997 shares in the last quarter. Paloma Partners Management Co bought a new stake in Tenaris in the 1st quarter valued at $251,000. Finally, BNP Paribas Arbitrage SA lifted its position in Tenaris by 41.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,200 shares of the industrial products company’s stock valued at $280,000 after acquiring an additional 2,400 shares in the last quarter. 15.98% of the stock is owned by institutional investors.
Shares of Tenaris S.A. (TS) traded up 1.00% during midday trading on Wednesday, hitting $28.20. 415,551 shares of the stock were exchanged. Tenaris S.A. has a 1-year low of $25.19 and a 1-year high of $37.21. The stock has a market capitalization of $16.65 billion, a price-to-earnings ratio of 50.36 and a beta of 0.64. The firm’s 50 day moving average is $28.39 and its 200-day moving average is $30.93.
Several equities research analysts recently commented on TS shares. BidaskClub raised shares of Tenaris from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Zacks Investment Research cut shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, July 22nd. Loop Capital raised shares of Tenaris from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Wednesday, May 17th. Cowen and Company set a $28.00 price objective on shares of Tenaris and gave the company a “hold” rating in a research report on Friday, August 4th. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a $30.00 price objective on shares of Tenaris in a research report on Monday, August 7th. Two equities research 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 currently has an average rating of “Hold” and an average target price of $35.35.
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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