Tenaris S.A. (NYSE:TS) Stock Position Raised by Signaturefd LLC

Signaturefd LLC boosted its holdings in Tenaris S.A. (NYSE:TS) by 4.7% during the second quarter, HoldingsChannel.com reports. The fund owned 16,338 shares of the industrial products company’s stock after acquiring an additional 732 shares during the period. Signaturefd LLC’s holdings in Tenaris were worth $499,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Balyasny Asset Management L.P. grew its position in shares of Tenaris by 91.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,576,096 shares of the industrial products company’s stock worth $89,545,000 after acquiring an additional 1,228,287 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Tenaris by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company’s stock worth $70,009,000 after purchasing an additional 56,935 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Tenaris by 33.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,155,173 shares of the industrial products company’s stock valued at $40,154,000 after purchasing an additional 291,118 shares during the period. Wellington Management Group LLP raised its holdings in shares of Tenaris by 14.8% during the fourth quarter. Wellington Management Group LLP now owns 1,006,755 shares of the industrial products company’s stock valued at $34,995,000 after buying an additional 129,450 shares during the last quarter. Finally, Kiltearn Partners LLP boosted its position in shares of Tenaris by 49.9% during the first quarter. Kiltearn Partners LLP now owns 743,959 shares of the industrial products company’s stock worth $29,379,000 after buying an additional 247,559 shares during the period. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Tenaris Price Performance

TS opened at $29.69 on Friday. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.72. The company has a market capitalization of $17.26 billion, a price-to-earnings ratio of 4.95 and a beta of 1.46. The business has a 50 day moving average price of $29.87 and a two-hundred day moving average price of $33.57.

Tenaris (NYSE:TS) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.38). Tenaris had a net margin of 20.41% and a return on equity of 16.12%. The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $170.13 million. During the same period in the prior year, the business earned $1.90 EPS. The company’s quarterly revenue was down 18.5% compared to the same quarter last year. Equities analysts expect that Tenaris S.A. will post 3.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on TS. Piper Sandler lowered their target price on Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Stifel Nicolaus lowered their price target on Tenaris from $42.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, StockNews.com downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $39.00.

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.