Goldman Sachs Group Inc. Increases Stake in Tenaris S.A. (NYSE:TS)

Goldman Sachs Group Inc. raised its position in Tenaris S.A. (NYSE:TS) by 33.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,155,173 shares of the industrial products company’s stock after purchasing an additional 291,118 shares during the period. Goldman Sachs Group Inc. owned 0.20% of Tenaris worth $40,154,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TS. Parallel Advisors LLC raised its holdings in shares of Tenaris by 20.3% during the 4th quarter. Parallel Advisors LLC now owns 3,908 shares of the industrial products company’s stock worth $136,000 after acquiring an additional 660 shares during the period. Greenleaf Trust purchased a new position in shares of Tenaris during the 4th quarter worth $210,000. West Family Investments Inc. purchased a new position in shares of Tenaris during the 4th quarter worth $218,000. Lake Street Advisors Group LLC purchased a new position in shares of Tenaris during the 4th quarter worth $229,000. Finally, Dana Investment Advisors Inc. purchased a new position in shares of Tenaris during the 4th quarter worth $265,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Piper Sandler reduced their price target on Tenaris from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Morgan Stanley lowered Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price target on the stock. in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Tenaris presently has a consensus rating of “Hold” and an average target price of $41.60.

Tenaris Trading Down 0.7 %

Shares of NYSE:TS opened at $30.89 on Friday. The business has a 50-day moving average price of $34.12 and a 200 day moving average price of $34.76. The company has a market capitalization of $17.96 billion, a price-to-earnings ratio of 5.15, a PEG ratio of 0.29 and a beta of 1.48. Tenaris S.A. has a 12-month low of $27.60 and a 12-month high of $40.72.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.23. The firm had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.34 billion. Tenaris had a return on equity of 21.11% and a net margin of 24.89%. As a group, equities research analysts predict that Tenaris S.A. will post 3.87 earnings per share for the current fiscal year.

Tenaris 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.