DNB Asset Management AS acquired a new stake in Tenaris SA (NYSE:TS) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,040 shares of the industrial products company’s stock, valued at approximately $284,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TS. Enlightenment Research LLC purchased a new position in shares of Tenaris in the fourth quarter valued at approximately $30,000. Macquarie Group Ltd. purchased a new position in shares of Tenaris in the fourth quarter valued at approximately $42,000. NumerixS Investment Technologies Inc purchased a new position in shares of Tenaris in the fourth quarter valued at approximately $45,000. Lindbrook Capital LLC purchased a new position in shares of Tenaris in the fourth quarter valued at approximately $72,000. Finally, Glenmede Trust Co. NA purchased a new position in shares of Tenaris in the third quarter valued at approximately $133,000. 14.49% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:TS opened at $29.31 on Friday. The company has a market capitalization of $17.30 billion, a P/E ratio of 19.80, a PEG ratio of 0.74 and a beta of 1.03. Tenaris SA has a fifty-two week low of $20.45 and a fifty-two week high of $40.64.

Tenaris (NYSE:TS) last issued its earnings results on Wednesday, February 20th. The industrial products company reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.05). The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.07 billion. Tenaris had a net margin of 11.44% and a return on equity of 7.45%. The firm’s revenue was up 32.5% compared to the same quarter last year. During the same period last year, the business earned $0.14 EPS. Equities analysts forecast that Tenaris SA will post 1.62 EPS for the current year.

Several research analysts have recently commented on the stock. Zacks Investment Research raised shares of Tenaris from a “strong sell” rating to a “hold” rating in a research note on Friday, March 22nd. ValuEngine raised shares of Tenaris from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Goldman Sachs Group cut shares of Tenaris from a “neutral” rating to a “sell” rating and set a $28.80 target price on the stock. in a report on Tuesday, March 26th. Barclays reaffirmed a “buy” rating and issued a $39.00 target price on shares of Tenaris in a report on Tuesday, February 26th. Finally, Citigroup raised shares of Tenaris from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Friday, January 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $37.89.

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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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