Van ECK Associates Corp Decreases Stock Holdings in Tenaris S.A. (NYSE:TS)

Van ECK Associates Corp decreased its stake in shares of Tenaris S.A. (NYSE:TS - Free Report) by 14.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,311,035 shares of the industrial products company's stock after selling 375,196 shares during the period. Van ECK Associates Corp owned approximately 0.40% of Tenaris worth $87,334,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Crossmark Global Holdings Inc. boosted its stake in shares of Tenaris by 61.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 35,111 shares of the industrial products company's stock valued at $1,327,000 after purchasing an additional 13,374 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Tenaris by 140.2% during the 4th 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 in the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Tenaris during the 3rd quarter valued at about $17,129,000. International Assets Investment Management LLC bought a new stake in shares of Tenaris during the 3rd quarter valued at about $380,000. Finally, Concentric Capital Strategies LP purchased a new position in Tenaris during the 3rd quarter valued at about $1,163,000. Institutional investors own 10.45% of the company's stock.

Tenaris Stock Up 0.3 %

Tenaris stock traded up $0.12 during trading hours on Monday, hitting $38.61. The stock had a trading volume of 1,402,203 shares, compared to its average volume of 1,322,892. The stock has a market capitalization of $22.44 billion, a P/E ratio of 8.41 and a beta of 1.44. Tenaris S.A. has a 12-month low of $27.24 and a 12-month high of $40.72. The stock's 50-day moving average price is $38.32 and its 200-day moving average price is $34.20.

Analyst Ratings Changes

A number of brokerages recently issued reports on TS. StockNews.com cut shares of Tenaris from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. Piper Sandler began coverage on shares of Tenaris in a research report on Thursday, December 19th. They set an "overweight" rating and a $48.00 price target for the company. Kepler Capital Markets cut shares of Tenaris from a "buy" rating to a "hold" rating in a research report on Friday, January 17th. Bank of America cut shares of Tenaris from a "neutral" rating to an "underperform" rating in a research report on Wednesday, January 29th. Finally, Jefferies Financial Group raised shares of Tenaris from a "hold" rating to a "buy" rating and lifted their price target for the company from $35.00 to $47.00 in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $42.75.

Tenaris Company Profile

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.