Tenaris SA (NYSE:TS) Short Interest Down 15.4% in November

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Tenaris SA (NYSE:TS) saw a significant decline in short interest during the month of November. As of November 29th, there was short interest totalling 4,940,000 shares, a decline of 15.4% from the November 14th total of 5,840,000 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average daily trading volume, of 2,710,000 shares, the short-interest ratio is presently 1.8 days.

A number of analysts have weighed in on TS shares. Morgan Stanley cut Tenaris from an “overweight” rating to an “equal weight” rating in a research report on Thursday, November 7th. ValuEngine raised Tenaris from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Wolfe Research raised Tenaris from a “peer perform” rating to an “outperform” rating and set a $28.00 price objective for the company in a research report on Wednesday, August 21st. Zacks Investment Research cut Tenaris from a “hold” rating to a “strong sell” rating in a research report on Friday, November 15th. Finally, Barclays reissued a “buy” rating and set a $30.00 price objective on shares of Tenaris in a research report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $29.85.

Shares of NYSE TS traded down $0.60 during trading hours on Friday, hitting $22.43. 2,412,584 shares of the company’s stock were exchanged, compared to its average volume of 2,460,760. Tenaris has a 1-year low of $19.90 and a 1-year high of $30.32. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.98 and a quick ratio of 1.76. The stock has a market capitalization of $13.19 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 1.83 and a beta of 1.23. The company’s 50-day moving average price is $21.62 and its 200-day moving average price is $22.91.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.13). Tenaris had a return on equity of 6.75% and a net margin of 10.66%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm posted $0.42 EPS. Tenaris’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, research analysts expect that Tenaris will post 1.25 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in TS. Northwestern Mutual Investment Management Company LLC grew its position in Tenaris by 41.9% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 59,870 shares of the industrial products company’s stock worth $1,268,000 after acquiring an additional 17,670 shares during the last quarter. SG Americas Securities LLC grew its position in Tenaris by 8.6% during the 3rd quarter. SG Americas Securities LLC now owns 250,231 shares of the industrial products company’s stock worth $5,300,000 after acquiring an additional 19,740 shares during the last quarter. Lindbrook Capital LLC grew its position in Tenaris by 26.6% during the 3rd quarter. Lindbrook Capital LLC now owns 3,894 shares of the industrial products company’s stock worth $82,000 after acquiring an additional 819 shares during the last quarter. FNY Investment Advisers LLC grew its position in Tenaris by 451.7% during the 3rd quarter. FNY Investment Advisers LLC now owns 80,000 shares of the industrial products company’s stock worth $1,694,000 after acquiring an additional 65,500 shares during the last quarter. Finally, SPX Equities Gestao de Recursos Ltda acquired a new position in Tenaris during the 3rd quarter worth $2,542,000. Institutional investors own 14.11% of the company’s stock.

Tenaris Company Profile

Tenaris SA, through 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 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, perforating guns, tubular accessories, and non-tubular accessories and devices.

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