A number of other equities analysts also recently commented on the stock. Capital One Financial restated an equal weight rating on shares of Tenaris in a research report on Thursday, February 22nd. TheStreet upgraded shares of Tenaris from a c rating to a b- rating in a research report on Tuesday, December 12th. Barclays began coverage on shares of Tenaris in a research report on Wednesday, December 20th. They set an overweight rating and a $39.00 price objective for the company. Guggenheim restated a buy rating and set a $46.00 price objective on shares of Tenaris in a research report on Friday, March 2nd. Finally, JPMorgan Chase & Co. restated a neutral rating and set a $34.50 price objective (up previously from $33.00) on shares of Tenaris in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $38.09.
Tenaris (NYSE:TS) traded up $0.78 during mid-day trading on Friday, reaching $36.96. 4,543,752 shares of the company traded hands, compared to its average volume of 2,841,887. Tenaris has a 1 year low of $25.91 and a 1 year high of $37.48. The stock has a market cap of $21,816.30, a P/E ratio of 39.74 and a beta of 0.72.
Several large investors have recently bought and sold shares of the company. Elkfork Partners LLC acquired a new position in shares of Tenaris during the 4th quarter worth $154,000. Envestnet Asset Management Inc. grew its stake in shares of Tenaris by 19.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 68,543 shares of the industrial products company’s stock worth $2,184,000 after purchasing an additional 11,047 shares during the period. Westwood Holdings Group Inc. grew its stake in shares of Tenaris by 7.1% during the 4th quarter. Westwood Holdings Group Inc. now owns 2,052,814 shares of the industrial products company’s stock worth $65,403,000 after purchasing an additional 136,000 shares during the period. Glenmede Trust Co. NA grew its stake in shares of Tenaris by 203.2% during the 4th quarter. Glenmede Trust Co. NA now owns 5,167 shares of the industrial products company’s stock worth $164,000 after purchasing an additional 3,463 shares during the period. Finally, Jane Street Group LLC grew its stake in shares of Tenaris by 109.0% during the 4th quarter. Jane Street Group LLC now owns 210,696 shares of the industrial products company’s stock worth $6,651,000 after purchasing an additional 109,896 shares during the period. 12.86% of the stock is currently owned by institutional investors and hedge funds.
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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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