Caisse DE Depot ET Placement DU Quebec Purchases New Holdings in Tenaris SA (TS)
Caisse DE Depot ET Placement DU Quebec purchased a new stake in Tenaris SA (NYSE:TS) during the second quarter, according to its most recent filing with the SEC. The fund purchased 128,800 shares of the industrial products company’s stock, valued at approximately $4,687,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new stake in Tenaris in the 1st quarter valued at $166,000. First Republic Investment Management Inc. bought a new stake in Tenaris in the 1st quarter valued at $219,000. Delpha Capital Management LLC bought a new stake in Tenaris in the 1st quarter valued at $227,000. Greenleaf Trust bought a new stake in Tenaris in the 2nd quarter valued at $240,000. Finally, Commerce Bank bought a new stake in Tenaris in the 1st quarter valued at $236,000. Institutional investors own 13.97% of the company’s stock.
Tenaris stock opened at $30.84 on Tuesday. Tenaris SA has a twelve month low of $25.91 and a twelve month high of $40.64. The stock has a market capitalization of $18.43 billion, a PE ratio of 40.05, a price-to-earnings-growth ratio of 0.60 and a beta of 0.58.
TS has been the topic of a number of research reports. Guggenheim reiterated a “buy” rating and issued a $48.00 price target on shares of Tenaris in a report on Friday, August 3rd. Piper Jaffray Companies set a $44.00 price target on shares of Tenaris and gave the company a “buy” rating in a report on Thursday, August 2nd. ValuEngine upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. BTIG Research initiated coverage on shares of Tenaris in a report on Thursday, June 14th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Tenaris in a report on Thursday, August 23rd. They issued a “buy” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Tenaris presently has a consensus rating of “Hold” and a consensus price target of $42.32.
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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