Css LLC Il Purchases 9,680 Shares of Tenaris S.A. (NYSE:TS)

CSS LLC IL lifted its stake in Tenaris S.A. (NYSE:TS - Free Report) by 33.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,680 shares of the industrial products company's stock after purchasing an additional 9,680 shares during the quarter. CSS LLC IL's holdings in Tenaris were worth $1,462,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Millennium Management LLC boosted its position in shares of Tenaris by 38.2% in the fourth quarter. Millennium Management LLC now owns 2,816,728 shares of the industrial products company's stock worth $106,444,000 after buying an additional 778,021 shares during the period. Encompass Capital Advisors LLC purchased a new stake in Tenaris in the 4th quarter worth about $41,569,000. ABC Arbitrage SA purchased a new stake in Tenaris in the 4th quarter worth about $31,581,000. Medina Value Partners LLC boosted its position in Tenaris by 34.7% during the 4th quarter. Medina Value Partners LLC now owns 566,013 shares of the industrial products company's stock worth $21,390,000 after acquiring an additional 145,945 shares during the period. Finally, Merewether Investment Management LP purchased a new position in Tenaris during the 4th quarter valued at about $20,271,000. Institutional investors and hedge funds own 10.45% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TS. Morgan Stanley reduced their price target on shares of Tenaris from $35.00 to $34.00 and set an "underweight" rating for the company in a research report on Friday, May 16th. Barclays set a $48.00 target price on shares of Tenaris and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Stifel Nicolaus lowered their price target on shares of Tenaris from $43.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. BNP Paribas assumed coverage on Tenaris in a report on Tuesday, April 22nd. They set an "outperform" rating for the company. Finally, Wall Street Zen raised Tenaris from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $44.00.

Tenaris Stock Up 0.6%

TS stock traded up $0.20 during trading hours on Monday, hitting $32.59. The company's stock had a trading volume of 988,429 shares, compared to its average volume of 1,758,757. The stock has a 50 day moving average price of $34.57 and a two-hundred day moving average price of $36.81. Tenaris S.A. has a 12 month low of $27.24 and a 12 month high of $40.87. The company has a market capitalization of $18.94 billion, a PE ratio of 9.03 and a beta of 1.27.

Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.14. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.88 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. Tenaris's quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.27 EPS. Sell-side analysts expect that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris Profile

Tenaris SA, together with its subsidiaries, 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 steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.