Tenaris (TS) Short Interest Update

Tenaris (NYSE:TS) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totalling 4,300,947 shares, a drop of 40.6% from the April 13th total of 7,244,660 shares. Based on an average trading volume of 2,084,923 shares, the days-to-cover ratio is presently 2.1 days.

Institutional investors have recently made changes to their positions in the business. FNY Partners Fund LP raised its stake in shares of Tenaris by 317.5% during the fourth quarter. FNY Partners Fund LP now owns 444,600 shares of the industrial products company’s stock worth $14,164,000 after acquiring an additional 338,100 shares in the last quarter. Stoneridge Investment Partners LLC purchased a new position in shares of Tenaris during the fourth quarter worth approximately $2,136,000. Lazard Asset Management LLC raised its stake in shares of Tenaris by 2.0% during the fourth quarter. Lazard Asset Management LLC now owns 188,343 shares of the industrial products company’s stock worth $6,000,000 after acquiring an additional 3,668 shares in the last quarter. Comerica Bank raised its stake in shares of Tenaris by 4.5% during the fourth quarter. Comerica Bank now owns 42,004 shares of the industrial products company’s stock worth $1,503,000 after acquiring an additional 1,825 shares in the last quarter. Finally, Fox Run Management L.L.C. raised its stake in shares of Tenaris by 35.8% during the fourth quarter. Fox Run Management L.L.C. now owns 22,000 shares of the industrial products company’s stock worth $701,000 after acquiring an additional 5,800 shares in the last quarter. Institutional investors and hedge funds own 12.77% of the company’s stock.

A number of equities analysts have recently commented on TS shares. Zacks Investment Research upgraded shares of Tenaris from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a research report on Thursday, March 1st. Morgan Stanley raised their price objective on shares of Tenaris from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Loop Capital raised their price objective on shares of Tenaris from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, March 22nd. Capital One upgraded shares of Tenaris from an “equal weight” rating to an “overweight” rating in a research report on Friday, April 27th. Finally, Cowen raised their price objective on shares of Tenaris from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, May 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $39.54.

Shares of Tenaris opened at $40.35 on Friday, MarketBeat Ratings reports. Tenaris has a 1 year low of $39.10 and a 1 year high of $39.44. The company has a market cap of $22.88 billion, a price-to-earnings ratio of 52.40, a P/E/G ratio of 0.80 and a beta of 0.69.

Tenaris (NYSE:TS) last announced its earnings results on Wednesday, February 21st. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.06. Tenaris had a net margin of 9.58% and a return on equity of 4.95%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.49 billion. equities research analysts anticipate that Tenaris will post 1.34 EPS for the current year.

About Tenaris

Tenaris SA 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 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, tubular and non-tubular accessories, and devices.

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