Tenaris SA (NYSE:TS) Short Interest Up 42.6% in July

Tenaris SA (NYSE:TS) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 4,120,000 shares, an increase of 42.6% from the June 30th total of 2,890,000 shares. Based on an average daily volume of 1,570,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 0.7% of the shares of the company are sold short.

Several institutional investors have recently modified their holdings of the company. Parallel Advisors LLC lifted its position in shares of Tenaris by 596.9% in the first quarter. Parallel Advisors LLC now owns 2,509 shares of the industrial products company’s stock worth $30,000 after buying an additional 2,149 shares in the last quarter. Advisor Group Holdings Inc. bought a new stake in Tenaris in the 1st quarter worth approximately $43,000. Signaturefd LLC raised its holdings in shares of Tenaris by 120.8% during the 1st quarter. Signaturefd LLC now owns 5,661 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 3,097 shares in the last quarter. UBS Group AG boosted its position in shares of Tenaris by 21.4% during the 2nd quarter. UBS Group AG now owns 5,768 shares of the industrial products company’s stock valued at $75,000 after acquiring an additional 1,016 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Tenaris by 13.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,559 shares of the industrial products company’s stock worth $80,000 after buying an additional 771 shares in the last quarter. Hedge funds and other institutional investors own 11.82% of the company’s stock.

TS stock opened at $11.70 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 2.96. The company’s fifty day moving average price is $13.18 and its 200-day moving average price is $15.10. Tenaris has a one year low of $9.10 and a one year high of $25.46. The company has a market capitalization of $6.91 billion, a PE ratio of -43.33 and a beta of 1.43.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Friday, May 1st. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.05). Tenaris had a negative net margin of 2.23% and a positive return on equity of 4.98%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.78 billion. On average, research analysts predict that Tenaris will post -0.23 EPS for the current fiscal year.

TS has been the subject of several recent research reports. Zacks Investment Research lowered Tenaris from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Cheuvreux downgraded Tenaris from a “buy” rating to a “hold” rating in a research note on Monday, April 20th. TheStreet lowered shares of Tenaris from a “c” rating to a “d+” rating in a report on Wednesday, April 29th. Goldman Sachs Group raised shares of Tenaris from a “sell” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Monday, June 22nd. Finally, Stifel Nicolaus increased their price objective on shares of Tenaris from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $17.19.

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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