Tenaris S.A. (NYSE:TS) Shares Sold by Caprock Group LLC

Caprock Group LLC decreased its position in Tenaris S.A. (NYSE:TS) by 9.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,209 shares of the industrial products company’s stock after selling 1,384 shares during the quarter. Caprock Group LLC’s holdings in Tenaris were worth $499,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Cornerstone Wealth Management LLC raised its holdings in Tenaris by 9.7% during the fourth quarter. Cornerstone Wealth Management LLC now owns 21,189 shares of the industrial products company’s stock worth $801,000 after purchasing an additional 1,869 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Tenaris by 61.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 35,111 shares of the industrial products company’s stock worth $1,327,000 after purchasing an additional 13,374 shares during the period. Ballentine Partners LLC boosted its stake in shares of Tenaris by 6.1% during the 4th quarter. Ballentine Partners LLC now owns 8,928 shares of the industrial products company’s stock valued at $337,000 after buying an additional 516 shares during the period. J2 Capital Management Inc acquired a new position in shares of Tenaris in the fourth quarter worth $513,000. Finally, GAMMA Investing LLC boosted its position in Tenaris by 140.2% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 548 shares during the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Stock Performance

Shares of TS opened at $38.69 on Wednesday. The company has a 50-day simple moving average of $38.24 and a 200-day simple moving average of $33.75. The firm has a market capitalization of $22.49 billion, a P/E ratio of 8.43 and a beta of 1.44. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.72.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TS shares. StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and upped their price target for the company from $35.00 to $47.00 in a report on Monday, December 9th. Kepler Capital Markets cut shares of Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Piper Sandler assumed coverage on shares of Tenaris in a report on Thursday, December 19th. They set an “overweight” rating and a $48.00 price target for the company. Finally, Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.75.

About Tenaris

Tenaris SA, together with its subsidiaries, 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 steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.