Westwood Holdings Group Inc. trimmed its holdings in shares of Tenaris SA (NYSE:TS) by 5.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,089,844 shares of the industrial products company’s stock after selling 62,887 shares during the quarter. Westwood Holdings Group Inc. owned 0.18% of Tenaris worth $28,674,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wetherby Asset Management Inc. grew its stake in shares of Tenaris by 11.4% in the second quarter. Wetherby Asset Management Inc. now owns 9,117 shares of the industrial products company’s stock valued at $240,000 after buying an additional 936 shares in the last quarter. Icon Wealth Partners LLC acquired a new position in Tenaris in the 1st quarter valued at about $44,000. Rehmann Capital Advisory Group grew its position in Tenaris by 292.0% in the 1st quarter. Rehmann Capital Advisory Group now owns 4,861 shares of the industrial products company’s stock valued at $137,000 after acquiring an additional 3,621 shares in the last quarter. Quantamental Technologies LLC acquired a new position in Tenaris in the 2nd quarter valued at about $97,000. Finally, First Trust Advisors LP grew its position in Tenaris by 48.0% in the 2nd quarter. First Trust Advisors LP now owns 11,463 shares of the industrial products company’s stock valued at $302,000 after acquiring an additional 3,717 shares in the last quarter. Institutional investors and hedge funds own 14.04% of the company’s stock.
TS traded down $0.28 on Friday, hitting $21.71. 2,377,560 shares of the company were exchanged, compared to its average volume of 2,964,542. Tenaris SA has a twelve month low of $20.45 and a twelve month high of $34.97. The company has a market cap of $13.18 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 1.51 and a beta of 1.14. The company has a current ratio of 2.94, a quick ratio of 1.70 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $22.20 and a two-hundred day moving average price of $25.61.
TS has been the subject of a number of research reports. Morgan Stanley set a $35.00 price objective on shares of Tenaris and gave the company a “buy” rating in a report on Wednesday, July 3rd. Stifel Nicolaus dropped their price objective on shares of Tenaris from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, August 2nd. TheStreet cut shares of Tenaris from a “b-” rating to a “c+” rating in a report on Tuesday, August 13th. Barclays set a $33.00 price target on shares of Tenaris and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Cowen restated a “market perform” rating and issued a $28.00 price target (down previously from $29.00) on shares of Tenaris in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Tenaris presently has an average rating of “Hold” and an average target price of $31.38.
Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides 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, perforating guns, tubular accessories, and non-tubular accessories and devices.
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