Commerzbank Aktiengesellschaft FI Invests $1.34 Million in Tenaris S.A. (TS)
Commerzbank Aktiengesellschaft FI bought a new position in shares of Tenaris S.A. (NYSE:TS) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 47,304 shares of the industrial products company’s stock, valued at approximately $1,339,000.
Other large investors have also recently modified their holdings of the company. D.A. Davidson & CO. boosted its holdings in Tenaris by 15.0% in the 2nd quarter. D.A. Davidson & CO. now owns 7,742 shares of the industrial products company’s stock worth $241,000 after acquiring an additional 1,011 shares during the period. Airain ltd purchased a new position in Tenaris in the 2nd quarter worth approximately $264,000. FDx Advisors Inc. purchased a new position in Tenaris in the 3rd quarter worth approximately $243,000. BNP Paribas Arbitrage SA boosted its holdings in Tenaris by 7.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,793 shares of the industrial products company’s stock worth $274,000 after acquiring an additional 593 shares during the period. Finally, Virtu KCG Holdings LLC purchased a new position in Tenaris in the 2nd quarter worth approximately $309,000. Institutional investors and hedge funds own 19.37% of the company’s stock.
A number of equities analysts have weighed in on TS shares. Cowen set a $28.00 price target on Tenaris and gave the stock a “hold” rating in a report on Friday, October 6th. Macquarie upgraded Tenaris from an “underperform” rating to a “neutral” rating in a report on Friday, November 17th. BidaskClub cut Tenaris from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Finally, Loop Capital upped their target price on Tenaris from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Tenaris has a consensus rating of “Hold” and an average price target of $35.39.
Shares of Tenaris S.A. (NYSE:TS) traded down $0.36 on Thursday, hitting $29.23. The company’s stock had a trading volume of 926,100 shares, compared to its average volume of 2,081,829. Tenaris S.A. has a one year low of $25.91 and a one year high of $37.21. The firm has a market cap of $17,466.03, a price-to-earnings ratio of 53.80 and a beta of 0.65.
Tenaris (NYSE:TS) last announced its earnings results on Wednesday, November 1st. The industrial products company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.09. Tenaris had a return on equity of 2.77% and a net margin of 8.81%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period in the prior year, the company posted $0.03 EPS. Tenaris’s quarterly revenue was up 32.0% on a year-over-year basis. research analysts forecast that Tenaris S.A. will post 0.49 EPS for the current year.
The firm also recently announced a dividend, which was paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 21st were given a $0.26 dividend. The ex-dividend date was Monday, November 20th. Tenaris’s payout ratio is 72.22%.
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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