Bessemer Group Inc. Has $15.79 Million Position in Tenaris SA (NYSE:TS)
Bessemer Group Inc. raised its holdings in Tenaris SA (NYSE:TS) by 3,000,790.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 600,178 shares of the industrial products company’s stock after buying an additional 600,158 shares during the period. Bessemer Group Inc. owned 0.10% of Tenaris worth $15,791,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Parallel Advisors LLC acquired a new position in shares of Tenaris during the 1st quarter worth about $29,000. Macquarie Group Ltd. acquired a new position in shares of Tenaris during the 4th quarter worth about $42,000. Icon Wealth Partners LLC acquired a new position in shares of Tenaris during the 1st quarter worth about $44,000. Rehmann Capital Advisory Group increased its stake in shares of Tenaris by 292.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 4,861 shares of the industrial products company’s stock worth $137,000 after purchasing an additional 3,621 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Tenaris by 7.3% during the 1st quarter. Quadrant Capital Group LLC now owns 7,180 shares of the industrial products company’s stock worth $199,000 after purchasing an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 14.38% of the company’s stock.
TS traded up $0.09 on Tuesday, reaching $25.47. The company had a trading volume of 93,444 shares, compared to its average volume of 1,708,618. Tenaris SA has a fifty-two week low of $20.45 and a fifty-two week high of $37.24. The firm has a market cap of $14.82 billion, a PE ratio of 17.23, a P/E/G ratio of 1.69 and a beta of 1.12. The firm’s fifty day simple moving average is $25.61. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.75 and a current ratio of 3.13.
Several research firms have recently weighed in on TS. TheStreet lowered shares of Viewray from a “c-” rating to a “d” rating in a research note on Friday, May 3rd. Goldman Sachs Group restated a “neutral” rating and set a $36.00 price objective on shares of General Motors in a research note on Tuesday, March 26th. ValuEngine upgraded shares of William Lyon Homes from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 10th. Zacks Investment Research lowered shares of Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Finally, Morgan Stanley set a $35.00 price target on shares of Tenaris and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Tenaris currently has an average rating of “Buy” and a consensus target price of $36.38.
Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides 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, perforating guns, tubular accessories, and non-tubular accessories and devices.
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