JPMorgan Chase & Co. lifted its position in Tenaris SA (NYSE:TS) by 8,750.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 137,630 shares of the industrial products company’s stock after purchasing an additional 136,075 shares during the period. JPMorgan Chase & Co.’s holdings in Tenaris were worth $3,897,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Harding Loevner LP boosted its holdings in Tenaris by 2.0% in the second quarter. Harding Loevner LP now owns 14,598,727 shares of the industrial products company’s stock valued at $454,604,000 after acquiring an additional 281,911 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Tenaris by 9.1% in the third quarter. Van ECK Associates Corp now owns 3,608,913 shares of the industrial products company’s stock valued at $102,168,000 after acquiring an additional 300,807 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in Tenaris by 32.8% in the second quarter. Westwood Holdings Group Inc. now owns 1,562,694 shares of the industrial products company’s stock valued at $48,662,000 after acquiring an additional 386,132 shares in the last quarter. Jennison Associates LLC boosted its holdings in Tenaris by 7.1% in the third quarter. Jennison Associates LLC now owns 933,609 shares of the industrial products company’s stock valued at $26,430,000 after acquiring an additional 62,120 shares in the last quarter. Finally, Calamos Advisors LLC boosted its holdings in Tenaris by 17.7% in the third quarter. Calamos Advisors LLC now owns 605,199 shares of the industrial products company’s stock valued at $17,133,000 after acquiring an additional 91,191 shares in the last quarter. Hedge funds and other institutional investors own 15.08% of the company’s stock.
Several analysts recently weighed in on the stock. Barclays assumed coverage on shares of Tenaris in a report on Wednesday, December 20th. They issued an “overweight” rating and a $39.00 price target on the stock. TheStreet upgraded shares of Tenaris from a “c” rating to a “b-” rating in a report on Tuesday, December 12th. Macquarie upgraded shares of Tenaris from an “underperform” rating to a “neutral” rating in a report on Friday, November 17th. Loop Capital lifted their price target on shares of Tenaris from $36.00 to $37.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Finally, Cowen set a $28.00 price target on shares of Tenaris and gave the company a “hold” rating in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Tenaris has a consensus rating of “Hold” and a consensus price target of $35.75.
Tenaris (NYSE:TS) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.09. Tenaris had a net margin of 8.81% and a return on equity of 2.77%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the business posted $0.03 EPS. The company’s quarterly revenue was up 32.0% on a year-over-year basis. equities analysts forecast that Tenaris SA will post 0.49 earnings per share for the current year.
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Tenaris 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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