Tenaris SA (TS) Position Boosted by Comerica Bank
Comerica Bank increased its position in Tenaris SA (NYSE:TS) by 13.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 41,996 shares of the company’s stock after buying an additional 4,842 shares during the period. Comerica Bank’s holdings in Tenaris SA were worth $1,494,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Independent Portfolio Consultants Inc. increased its stake in shares of Tenaris SA by 5.2% in the third quarter. Independent Portfolio Consultants Inc. now owns 5,945 shares of the company’s stock worth $169,000 after buying an additional 295 shares during the last quarter. Advisor Group Inc. increased its stake in shares of Tenaris SA by 16.0% in the third quarter. Advisor Group Inc. now owns 4,789 shares of the company’s stock worth $136,000 after buying an additional 662 shares during the last quarter. Ngam Advisors L.P. increased its stake in shares of Tenaris SA by 5.3% in the third quarter. Ngam Advisors L.P. now owns 15,083 shares of the company’s stock worth $428,000 after buying an additional 765 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Tenaris SA by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 436,184 shares of the company’s stock worth $12,388,000 after buying an additional 1,533 shares during the last quarter. Finally, Fis Group Inc. increased its stake in shares of Tenaris SA by 3.8% in the third quarter. Fis Group Inc. now owns 68,377 shares of the company’s stock worth $1,938,000 after buying an additional 2,476 shares during the last quarter. 16.47% of the stock is currently owned by institutional investors.
Shares of Tenaris SA (NYSE:TS) opened at 32.21 on Tuesday. The company has a market cap of $19.01 billion, a P/E ratio of 342.66 and a beta of 0.91. The stock’s 50 day moving average price is $33.44 and its 200 day moving average price is $31.67. Tenaris SA has a 12-month low of $22.96 and a 12-month high of $37.21.
Tenaris SA (NYSE:TS) last announced its quarterly earnings data on Wednesday, February 22nd. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.15 billion. Tenaris SA had a negative return on equity of 0.21% and a negative net margin of 0.52%. The company’s revenue was down 23.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.08) EPS. On average, analysts forecast that Tenaris SA will post $0.35 EPS for the current year.
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A number of brokerages have weighed in on TS. Scotiabank set a $40.00 target price on Tenaris SA and gave the stock a “buy” rating in a report on Saturday, February 25th. Guggenheim reiterated a “buy” rating on shares of Tenaris SA in a report on Wednesday, December 7th. Evercore ISI upgraded Tenaris SA from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Monday, February 27th. Zacks Investment Research downgraded Tenaris SA from a “buy” rating to a “hold” rating in a report on Saturday, February 25th. Finally, Macquarie downgraded Tenaris SA from an “outperform” rating to an “underperform” rating in a report on Tuesday, November 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $35.00.
Tenaris SA 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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