Stock Traders Buy Large Volume of Put Options on Tenaris (TS)
Tenaris SA (NYSE:TS) saw some unusual options trading activity on Thursday. Stock traders purchased 2,749 put options on the stock. This is an increase of 1,998% compared to the typical volume of 131 put options.
TS has been the subject of several research reports. TheStreet raised shares of Tenaris from a “c” rating to a “b-” rating in a research report on Tuesday, December 12th. Loop Capital boosted their price objective on shares of Tenaris from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Cowen set a $33.00 price objective on shares of Tenaris and gave the company a “hold” rating in a research report on Thursday. Macquarie raised shares of Tenaris from an “underperform” rating to a “neutral” rating in a research report on Friday, November 17th. Finally, Barclays initiated coverage on shares of Tenaris in a research report on Wednesday, December 20th. They issued an “overweight” rating and a $39.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $36.25.
Shares of Tenaris (TS) opened at $34.54 on Friday. Tenaris has a 52-week low of $25.91 and a 52-week high of $37.21. The stock has a market cap of $20,110.00, a PE ratio of 71.96 and a beta of 0.65.
Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.09 by $0.09. Tenaris had a net margin of 8.81% and a return on equity of 2.77%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the business posted $0.03 EPS. The company’s quarterly revenue was up 32.0% compared to the same quarter last year. analysts anticipate that Tenaris will post 0.49 EPS for the current year.
Large investors have recently bought and sold shares of the company. D.A. Davidson & CO. raised its holdings in shares of Tenaris by 15.0% in the 2nd quarter. D.A. Davidson & CO. now owns 7,742 shares of the industrial products company’s stock valued at $241,000 after purchasing an additional 1,011 shares in the last quarter. FDx Advisors Inc. bought a new stake in shares of Tenaris in the 3rd quarter valued at about $243,000. BNP Paribas Arbitrage SA raised its holdings in shares of Tenaris by 7.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,793 shares of the industrial products company’s stock valued at $274,000 after purchasing an additional 593 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in shares of Tenaris in the 3rd quarter valued at about $282,000. Finally, Virtu KCG Holdings LLC bought a new stake in shares of Tenaris in the 2nd quarter valued at about $309,000. Institutional investors and hedge funds own 15.08% of the company’s stock.
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Tenaris Company Profile
Tenaris SA is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products.
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