Tenaris S.A. $TS Stock Position Increased by ABC Arbitrage SA

ABC Arbitrage SA boosted its holdings in shares of Tenaris S.A. (NYSE:TS) by 65.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 775,204 shares of the industrial products company’s stock after purchasing an additional 307,936 shares during the quarter. Tenaris makes up 2.7% of ABC Arbitrage SA’s holdings, making the stock its 7th largest position. ABC Arbitrage SA owned about 0.13% of Tenaris worth $27,729,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Ameritas Advisory Services LLC purchased a new position in shares of Tenaris in the second quarter valued at approximately $28,000. Blue Trust Inc. increased its holdings in shares of Tenaris by 48.8% during the 2nd quarter. Blue Trust Inc. now owns 1,088 shares of the industrial products company’s stock worth $41,000 after buying an additional 357 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Tenaris during the second quarter worth $49,000. Farther Finance Advisors LLC increased its position in shares of Tenaris by 100.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,446 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 725 shares during the last quarter. Finally, CWM LLC increased its position in shares of Tenaris by 57.7% during the third quarter. CWM LLC now owns 1,560 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 571 shares during the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Price Performance

NYSE TS opened at $47.32 on Wednesday. The company’s 50 day simple moving average is $41.61 and its 200 day simple moving average is $38.55. The firm has a market capitalization of $27.51 billion, a PE ratio of 12.72, a P/E/G ratio of 12.59 and a beta of 0.95. Tenaris S.A. has a 12 month low of $30.06 and a 12 month high of $47.59.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TS shares. Morgan Stanley set a $38.00 price target on Tenaris and gave the stock an “underweight” rating in a research report on Wednesday, January 21st. TD Cowen reaffirmed a “buy” rating on shares of Tenaris in a report on Wednesday, January 7th. Weiss Ratings restated a “hold (c)” rating on shares of Tenaris in a research note on Monday, December 29th. The Goldman Sachs Group assumed coverage on shares of Tenaris in a report on Monday, December 15th. They set a “neutral” rating and a $43.60 price objective on the stock. Finally, Wall Street Zen raised Tenaris from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $42.72.

Tenaris Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.