Virtu Financial LLC Buys New Stake in Tenaris SA (NYSE:TS)

Virtu Financial LLC acquired a new position in Tenaris SA (NYSE:TS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,198 shares of the industrial products company’s stock, valued at approximately $260,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TS. Jane Street Group LLC bought a new position in shares of Tenaris during the third quarter worth about $23,023,000. Cubist Systematic Strategies LLC grew its holdings in shares of Tenaris by 50.2% during the second quarter. Cubist Systematic Strategies LLC now owns 7,208 shares of the industrial products company’s stock worth $262,000 after buying an additional 2,408 shares in the last quarter. Credit Suisse AG grew its holdings in shares of Tenaris by 173.0% during the third quarter. Credit Suisse AG now owns 86,817 shares of the industrial products company’s stock worth $2,910,000 after buying an additional 55,013 shares in the last quarter. Jefferies Group LLC grew its holdings in shares of Tenaris by 164.4% during the third quarter. Jefferies Group LLC now owns 21,574 shares of the industrial products company’s stock worth $723,000 after buying an additional 13,415 shares in the last quarter. Finally, Capital Fund Management S.A. grew its holdings in shares of Tenaris by 205.2% during the third quarter. Capital Fund Management S.A. now owns 116,300 shares of the industrial products company’s stock worth $3,898,000 after buying an additional 78,200 shares in the last quarter.

NYSE:TS opened at $25.91 on Thursday. The company has a market cap of $14.50 billion, a P/E ratio of 33.65, a PEG ratio of 0.44 and a beta of 0.95. Tenaris SA has a 1-year low of $20.45 and a 1-year high of $40.64.

A number of research analysts recently issued reports on TS shares. Zacks Investment Research downgraded Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, November 3rd. ValuEngine cut Tenaris from a “hold” rating to a “sell” rating in a research report on Friday, November 23rd. UBS Group reduced their price target on Tenaris from $40.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, December 7th. Barclays reissued a “buy” rating and set a $44.00 price target on shares of Tenaris in a research report on Friday, January 18th. Finally, Citigroup raised Tenaris from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Friday, January 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $39.27.

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Tenaris 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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