Raymond James & Associates Purchases Shares of 34,259 Tenaris SA (TS)

Raymond James & Associates purchased a new stake in shares of Tenaris SA (NYSE:TS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 34,259 shares of the industrial products company’s stock, valued at approximately $1,247,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new stake in shares of Tenaris during the 1st quarter valued at about $166,000. Greenleaf Trust purchased a new position in shares of Tenaris during the 2nd quarter valued at about $240,000. SG Americas Securities LLC lifted its position in shares of Tenaris by 50.6% during the 2nd quarter. SG Americas Securities LLC now owns 10,268 shares of the industrial products company’s stock valued at $374,000 after buying an additional 3,452 shares in the last quarter. Cynosure Advisors LLC purchased a new position in shares of Tenaris during the 1st quarter valued at about $375,000. Finally, ING Groep NV purchased a new position in shares of Tenaris during the 2nd quarter valued at about $400,000. Institutional investors and hedge funds own 13.97% of the company’s stock.

NYSE TS opened at $33.05 on Wednesday. Tenaris SA has a 12 month low of $25.91 and a 12 month high of $40.64. The company has a market capitalization of $19.79 billion, a P/E ratio of 42.92, a price-to-earnings-growth ratio of 0.63 and a beta of 0.55.

Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, August 1st. The industrial products company reported $0.29 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.29. Tenaris had a return on equity of 5.74% and a net margin of 10.21%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the previous year, the firm earned $0.06 EPS. The firm’s revenue was up 43.9% compared to the same quarter last year. As a group, analysts anticipate that Tenaris SA will post 1.4 earnings per share for the current year.

A number of research analysts have recently weighed in on TS shares. Jefferies Financial Group started coverage on Tenaris in a research report on Thursday, August 23rd. They set a “buy” rating on the stock. Wolfe Research started coverage on Tenaris in a research report on Wednesday, October 10th. They set a “peer perform” rating on the stock. BNP Paribas raised Tenaris from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 21st. Bank of America raised Tenaris from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $40.00 in a report on Tuesday, September 25th. Finally, Stifel Nicolaus started coverage on Tenaris in a report on Monday, September 10th. They issued a “buy” rating and a $41.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $41.81.

Tenaris Company Profile

Tenaris SA produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, tubular and non-tubular accessories, and devices.

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Institutional Ownership by Quarter for Tenaris (NYSE:TS)

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