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Tenaris S.A. (NYSE:TS - Get Rating) was the target of a large growth in short interest in July. As of July 15th, there was short interest totalling 3,650,000 shares, a growth of 46.6% from the June 30th total of 2,490,000 shares. Based on an average trading volume of 2,520,000 shares, the days-to-cover ratio is currently 1.4 days. Hedge Funds Weigh In On Tenaris
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TS. CWM LLC raised its stake in shares of Tenaris by 113.4% in the 2nd quarter. CWM LLC now owns 1,033 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 549 shares in the last quarter. Tcwp LLC acquired a new stake in shares of Tenaris in the 1st quarter valued at about $36,000. Bessemer Group Inc. raised its stake in shares of Tenaris by 194.7% in the 4th quarter. Bessemer Group Inc. now owns 2,405 shares of the industrial products company's stock valued at $50,000 after purchasing an additional 1,589 shares in the last quarter. Fifth Third Bancorp acquired a new stake in shares of Tenaris in the 4th quarter valued at about $55,000. Finally, Royal Bank of Canada raised its stake in shares of Tenaris by 149.1% in the 1st quarter. Royal Bank of Canada now owns 3,470 shares of the industrial products company's stock valued at $104,000 after purchasing an additional 2,077 shares in the last quarter. 8.47% of the stock is owned by hedge funds and other institutional investors. Tenaris Stock Performance
Tenaris stock traded up $1.11 during trading on Friday, reaching $28.06. 2,375,155 shares of the company's stock were exchanged, compared to its average volume of 2,748,193. The company's 50-day moving average is $28.43 and its two-hundred day moving average is $28.35. Tenaris has a 52-week low of $18.80 and a 52-week high of $34.76. The firm has a market cap of $16.56 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 0.26 and a beta of 1.57.
Tenaris (NYSE:TS - Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The industrial products company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.17. The company had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.35 billion. Tenaris had a net margin of 19.42% and a return on equity of 12.38%. Analysts anticipate that Tenaris will post 3.74 EPS for the current year. Tenaris Announces Dividend
The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, June 1st. Shareholders of record on Tuesday, May 24th were given a $0.56 dividend. The ex-dividend date of this dividend was Monday, May 23rd. Tenaris's payout ratio is currently 44.09%. Wall Street Analyst Weigh In
Several research analysts recently issued reports on TS shares. Barclays lifted their price objective on Tenaris from $32.00 to $42.00 in a research report on Monday, May 9th. Piper Sandler lifted their price objective on Tenaris from $52.00 to $60.00 in a research report on Friday, April 29th. Jefferies Financial Group upgraded Tenaris from a "hold" rating to a "buy" rating and boosted their price target for the company from $35.70 to $46.00 in a report on Thursday, July 7th. Credit Suisse Group boosted their price target on Tenaris from €8.20 ($8.37) to €8.80 ($8.98) and gave the company an "underperform" rating in a report on Monday, April 4th. Finally, Morgan Stanley cut their price target on Tenaris from $40.00 to $35.00 and set an "overweight" rating for the company in a report on Wednesday, July 13th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $32.64.Tenaris Company Profile (Get Rating)
Tenaris SA, together with 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 steel casings, tubing products, mechanical and structural pipes, cold-drawn pipes, and premium joints and couplings; coiled tubing products for oil and gas drilling and workovers, and subsea pipelines; and umbilical tubing products; and tubular accessories.Featured StoriesGet a free copy of the StockNews.com research report on Tenaris (TS)MarketBeat: Week in Review 7/25 – 7/29Procter's Earnings Start To Show Weakness In Q4The One Question You Have to Ask Before Investing in INTC Stock Home Depot: A Beautiful Boring Stock to Navigate a Bear Market Could CRISPR Therapeutics be a Moonshot Hiding in Plain Sight?
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