Natixis Advisors LLC Sells 53,718 Shares of Tenaris S.A. (NYSE:TS)

Natixis Advisors LLC lowered its stake in shares of Tenaris S.A. (NYSE:TS) by 7.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 696,062 shares of the industrial products company’s stock after selling 53,718 shares during the quarter. Natixis Advisors LLC’s holdings in Tenaris were worth $21,244,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC raised its position in shares of Tenaris by 93.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 39,128 shares of the industrial products company’s stock valued at $1,537,000 after buying an additional 18,935 shares during the last quarter. Ruffer LLP raised its position in shares of Tenaris by 166.5% during the fourth quarter. Ruffer LLP now owns 177,306 shares of the industrial products company’s stock valued at $6,164,000 after buying an additional 110,770 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Tenaris by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company’s stock valued at $70,009,000 after buying an additional 56,935 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Tenaris during the second quarter valued at approximately $1,518,000. Finally, Balyasny Asset Management L.P. raised 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 valued at $89,545,000 after buying an additional 1,228,287 shares during the last quarter. Institutional investors own 10.45% of the company’s stock.

Tenaris Stock Performance

TS stock opened at $29.30 on Wednesday. The firm has a fifty day moving average price of $29.81 and a 200 day moving average price of $33.55. Tenaris S.A. has a fifty-two week low of $27.24 and a fifty-two week high of $40.72. The firm has a market cap of $17.03 billion, a PE ratio of 4.88 and a beta of 1.43.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of Tenaris from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Piper Sandler cut their target price on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, StockNews.com lowered shares of Tenaris from a “buy” rating to a “hold” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.