AGF Investments Inc. Purchases 245,010 Shares of Tenaris SA (TS)
AGF Investments Inc. increased its position in Tenaris SA (NYSE:TS) by 76.9% during the fourth quarter, HoldingsChannel reports. The firm owned 563,484 shares of the industrial products company’s stock after buying an additional 245,010 shares during the quarter. AGF Investments Inc.’s holdings in Tenaris were worth $17,953,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of TS. Vanguard Group Inc. lifted its holdings in shares of Tenaris by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 337,048 shares of the industrial products company’s stock worth $10,496,000 after purchasing an additional 14,016 shares in the last quarter. Virtu KCG Holdings LLC bought a new position in shares of Tenaris in the 2nd quarter worth $309,000. Royal Bank of Canada lifted its stake in Tenaris by 568.8% during the 2nd quarter. Royal Bank of Canada now owns 149,861 shares of the industrial products company’s stock valued at $4,666,000 after acquiring an additional 127,453 shares in the last quarter. Shell Asset Management Co. bought a new position in Tenaris during the 3rd quarter valued at $4,552,000. Finally, Quantitative Systematic Strategies LLC bought a new position in Tenaris during the 3rd quarter valued at $282,000. Institutional investors own 15.09% of the company’s stock.
Several brokerages have weighed in on TS. Credit Suisse Group upgraded Tenaris from an “underperform” rating to a “neutral” rating in a research note on Monday, January 15th. Cowen set a $33.00 price objective on Tenaris and gave the company a “hold” rating in a research note on Thursday, January 11th. Zacks Investment Research upgraded Tenaris from a “hold” rating to a “strong-buy” rating and set a $37.00 price objective on the stock in a research note on Friday, January 5th. Barclays began coverage on Tenaris in a research note on Wednesday, December 20th. They set an “overweight” rating and a $39.00 price objective on the stock. Finally, TheStreet upgraded Tenaris from a “c” rating to a “b-” rating in a research note on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $36.39.
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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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