Moore Capital Management LP Takes Position in Tenaris S.A. (NYSE:TS)

Moore Capital Management LP bought a new position in shares of Tenaris S.A. (NYSE:TS – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 225,013 shares of the industrial products company’s stock, valued at approximately $5,814,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of Tenaris by 18.4% during the 1st quarter. Bank of New York Mellon Corp now owns 20,773 shares of the industrial products company’s stock worth $625,000 after buying an additional 3,230 shares in the last quarter. American Century Companies Inc. bought a new position in Tenaris during the first quarter worth $236,000. Citigroup Inc. grew its holdings in Tenaris by 65.9% in the first quarter. Citigroup Inc. now owns 5,236 shares of the industrial products company’s stock worth $157,000 after purchasing an additional 2,080 shares during the period. Yousif Capital Management LLC bought a new stake in Tenaris in the first quarter valued at $275,000. Finally, Cibc World Market Inc. acquired a new position in shares of Tenaris during the first quarter valued at about $1,542,000. Institutional investors and hedge funds own 12.15% of the company’s stock.

Tenaris Trading Down 3.2 %

TS opened at $32.72 on Friday. The business’s 50-day moving average price is $34.35 and its 200-day moving average price is $31.81. Tenaris S.A. has a 12 month low of $22.24 and a 12 month high of $38.00. The company has a market cap of $19.31 billion, a P/E ratio of 7.56, a P/E/G ratio of 2.75 and a beta of 1.46.

Analysts Set New Price Targets

Several analysts have recently commented on TS shares. Piper Sandler raised their target price on Tenaris from $33.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, November 18th. Grupo Santander downgraded Tenaris from an “outperform” rating to a “neutral” rating in a report on Monday, November 28th. Morgan Stanley increased their target price on Tenaris from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, February 21st. StockNews.com upgraded shares of Tenaris from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Tenaris from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, November 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.64.

About Tenaris

(Get Rating)

Tenaris SA manufactures and supplies steel pipe products. It operates through the Tubes and Other segments. The Tubes segment consists of the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products.