Caprock Group LLC Takes $563,000 Position in Tenaris S.A. $TS

Caprock Group LLC purchased a new position in shares of Tenaris S.A. (NYSE:TS) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 15,549 shares of the industrial products company’s stock, valued at approximately $563,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Tenaris during the second quarter worth $49,000. Farther Finance Advisors LLC raised its holdings in shares of Tenaris by 100.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,446 shares of the industrial products company’s stock worth $52,000 after buying an additional 725 shares in the last quarter. CWM LLC lifted its position in shares of Tenaris by 57.7% during the 3rd quarter. CWM LLC now owns 1,560 shares of the industrial products company’s stock worth $56,000 after buying an additional 571 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of Tenaris by 1,547.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 3,624 shares of the industrial products company’s stock worth $136,000 after buying an additional 3,404 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Tenaris by 38.5% in the third quarter. Versant Capital Management Inc now owns 4,205 shares of the industrial products company’s stock valued at $150,000 after buying an additional 1,168 shares in the last quarter. 10.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TS. Piper Sandler reissued a “neutral” rating on shares of Tenaris in a research note on Thursday, December 18th. The Goldman Sachs Group started coverage on shares of Tenaris in a research report on Monday, December 15th. They set a “neutral” rating and a $43.60 price objective for the company. Morgan Stanley set a $38.00 price objective on shares of Tenaris and gave the company an “underweight” rating in a research note on Wednesday, January 21st. Oddo Bhf raised shares of Tenaris to an “outperform” rating in a research note on Thursday, February 5th. Finally, Wall Street Zen downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a report on Saturday. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $42.72.

Tenaris Stock Up 1.8%

Shares of Tenaris stock opened at $49.45 on Wednesday. The stock has a market cap of $28.75 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 12.87 and a beta of 0.95. Tenaris S.A. has a twelve month low of $30.06 and a twelve month high of $49.54. The company’s fifty day moving average is $42.37 and its 200 day moving average is $38.97.

Tenaris Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.