Tenaris S.A. (ADR) (TS): Are Hedge Funds Right About This Stock?

Page 1 of 2

Tenaris S.A. (ADR) (NYSE:TS) has experienced a decrease in hedge fund interest lately.

If you’d ask most stock holders, hedge funds are seen as worthless, old financial vehicles of years past. While there are over 8000 funds trading at the moment, we choose to focus on the bigwigs of this club, about 450 funds. Most estimates calculate that this group controls the lion’s share of all hedge funds’ total asset base, and by keeping an eye on their highest performing picks, we have discovered a number of investment strategies that have historically outperformed the broader indices. Our small-cap hedge fund strategy outperformed the S&P 500 index by 18 percentage points per year for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have trumped the S&P 500 index by 24 percentage points in 7 months (see the details here).

Tenaris S.A. (ADR) (NYSE:TS)

Equally as beneficial, positive insider trading activity is another way to parse down the financial markets. Just as you’d expect, there are a variety of motivations for a corporate insider to downsize shares of his or her company, but only one, very obvious reason why they would buy. Plenty of empirical studies have demonstrated the market-beating potential of this method if “monkeys” know what to do (learn more here).

Now, it’s important to take a glance at the latest action encompassing Tenaris S.A. (ADR) (NYSE:TS).

What have hedge funds been doing with Tenaris S.A. (ADR) (NYSE:TS)?

In preparation for this year, a total of 6 of the hedge funds we track were long in this stock, a change of -14% from the third quarter. With the smart money’s capital changing hands, there exists a select group of notable hedge fund managers who were increasing their holdings significantly.

According to our comprehensive database, Jim Simons’s Renaissance Technologies had the largest position in Tenaris S.A. (ADR) (NYSE:TS), worth close to $25.2 million, comprising 0.1% of its total 13F portfolio. Coming in second is D E Shaw, managed by D. E. Shaw, which held a $9.4 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Some other hedgies that hold long positions include J. Alan Reid, Jr.’s Forward Management, Bruce Kovner’s Caxton Associates LP and Cliff Asness’s AQR Capital Management.

Since Tenaris S.A. (ADR) (NYSE:TS) has witnessed bearish sentiment from hedge fund managers, it’s easy to see that there was a specific group of fund managers that elected to cut their entire stakes heading into 2013. Intriguingly, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital dropped the largest position of the 450+ funds we watch, comprising an estimated $30.6 million in stock.. Israel Englander’s fund, Millennium Management, also cut its stock, about $0.7 million worth. These bearish behaviors are interesting, as total hedge fund interest fell by 1 funds heading into 2013.

What have insiders been doing with Tenaris S.A. (ADR) (NYSE:TS)?

Insider trading activity, especially when it’s bullish, is best served when the company in focus has experienced transactions within the past half-year. Over the last 180-day time period, Tenaris S.A. (ADR) (NYSE:TS) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

Let’s also examine hedge fund and insider activity in other stocks similar to Tenaris S.A. (ADR) (NYSE:TS). These stocks are Companhia Siderurgica Nacional (ADR) (NYSE:SID), Gerdau SA (ADR) (NYSE:GGB), Nucor Corporation (NYSE:NUE), ArcelorMittal (ADR) (NYSE:MT), and POSCO (ADR) (NYSE:PKX). This group of stocks belong to the steel & iron industry and their market caps resemble TS’s market cap.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!