Tenaris SA (TS) Position Boosted by Comerica Bank

Comerica Bank increased its position in shares of Tenaris SA (NYSE:TS) by 13.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Kernodle & Katon Asset Management Group LLC acquired a new stake in Tenaris SA during the third quarter worth about $129,000. Advisor Group Inc. boosted its stake in 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. Independent Portfolio Consultants Inc. boosted its stake in 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. Itau Unibanco Holding S.A. acquired a new stake in Tenaris SA during the third quarter worth about $183,000. Finally, DnB Asset Management AS acquired a new stake in Tenaris SA during the third quarter worth about $327,000. 16.47% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Tenaris SA (NYSE:TS)

Tenaris SA (NYSE:TS) opened at 32.21 on Tuesday. Tenaris SA has a 52-week low of $22.96 and a 52-week high of $37.21. The firm’s 50-day moving average price is $33.44 and its 200-day moving average price is $31.67. The firm has a market cap of $19.01 billion, a P/E ratio of 342.66 and a beta of 0.91.

Tenaris SA (NYSE:TS) last announced its quarterly earnings results on Wednesday, February 22nd. The company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.03. Tenaris SA had a negative return on equity of 0.21% and a negative net margin of 0.52%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the firm posted ($0.08) earnings per share. The business’s revenue for the quarter was down 23.8% on a year-over-year basis. Equities research analysts expect that Tenaris SA will post $0.35 EPS for the current year.

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A number of research firms recently issued reports on TS. Scotiabank set a $40.00 target price on Tenaris SA and gave the stock a “buy” rating in a research note on Saturday, February 25th. Guggenheim reissued a “buy” rating on shares of Tenaris SA in a research note on Wednesday, December 7th. Evercore ISI raised Tenaris SA from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Monday, February 27th. Zacks Investment Research cut Tenaris SA from a “buy” rating to a “hold” rating in a research note on Saturday, February 25th. Finally, Macquarie cut Tenaris SA from an “outperform” rating to an “underperform” rating in a research note on Tuesday, November 22nd. Two investment 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 company has a consensus rating of “Hold” and a consensus price target of $35.00.

About Tenaris SA

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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