World Asset Management Inc Acquires Shares of 8,932 Tenaris SA (TS)

World Asset Management Inc acquired a new stake in Tenaris SA (NYSE:TS) during the first quarter, HoldingsChannel.com reports. The fund acquired 8,932 shares of the industrial products company’s stock, valued at approximately $252,000.

Other large investors have also recently made changes to their positions in the company. Enlightenment Research LLC acquired a new stake in Tenaris in the fourth quarter valued at approximately $30,000. Highland Capital Management LLC boosted its position in Tenaris by 2.7% in the first quarter. Highland Capital Management LLC now owns 58,064 shares of the industrial products company’s stock valued at $1,640,000 after buying an additional 1,550 shares in the last quarter. AQR Capital Management LLC boosted its position in Tenaris by 7.6% in the third quarter. AQR Capital Management LLC now owns 26,327 shares of the industrial products company’s stock valued at $882,000 after buying an additional 1,861 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in Tenaris in the fourth quarter valued at approximately $42,000. Finally, NumerixS Investment Technologies Inc acquired a new stake in Tenaris in the fourth quarter valued at approximately $45,000. 14.72% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have weighed in on TS shares. Citigroup upgraded shares of Tenaris from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Friday, January 18th. Barclays restated a “buy” rating and issued a $44.00 target price on shares of Tenaris in a research report on Friday, January 18th. Goldman Sachs Group lowered shares of Tenaris from a “neutral” rating to a “sell” rating and set a $28.80 price target on the stock. in a report on Tuesday, March 26th. ValuEngine upgraded shares of Tenaris from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Finally, Zacks Investment Research upgraded shares of Tenaris from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $37.88.

Shares of NYSE:TS opened at $26.70 on Friday. The firm has a market cap of $15.61 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 0.72 and a beta of 1.01. Tenaris SA has a 52 week low of $20.45 and a 52 week high of $40.64.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $2 billion. Tenaris had a net margin of 11.53% and a return on equity of 7.54%. Tenaris’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 earnings per share. Research analysts forecast that Tenaris SA will post 1.6 EPS for the current year.

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Tenaris Company Profile

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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Institutional Ownership by Quarter for Tenaris (NYSE:TS)

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