AGF Management Ltd. Buys 14,748 Shares of Tenaris S.A. (NYSE:TS)

AGF Management Ltd. grew its stake in Tenaris S.A. (NYSE:TS) by 6.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 241,327 shares of the industrial products company’s stock after purchasing an additional 14,748 shares during the period. AGF Management Ltd.’s holdings in Tenaris were worth $7,365,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Janiczek Wealth Management LLC lifted its stake in shares of Tenaris by 14.8% during the 1st quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 347 shares during the last quarter. Parallel Advisors LLC lifted its stake 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 last quarter. Signaturefd LLC lifted its stake in shares of Tenaris by 4.7% during the 2nd quarter. Signaturefd LLC now owns 16,338 shares of the industrial products company’s stock worth $499,000 after acquiring an additional 732 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Tenaris by 8.2% during the 4th quarter. Quadrant Capital Group LLC now owns 10,595 shares of the industrial products company’s stock worth $368,000 after acquiring an additional 800 shares during the last quarter. Finally, Ballentine Partners LLC increased its holdings in Tenaris by 10.3% during the 1st quarter. Ballentine Partners LLC now owns 8,923 shares of the industrial products company’s stock worth $350,000 after purchasing an additional 834 shares during the period. 10.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Tenaris Trading Up 0.4 %

Shares of NYSE:TS opened at $28.33 on Friday. Tenaris S.A. has a 12-month low of $27.24 and a 12-month high of $40.72. The business’s fifty day simple moving average is $29.51 and its 200-day simple moving average is $33.31. The company has a market capitalization of $16.47 billion, a PE ratio of 4.72 and a beta of 1.43.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.38). Tenaris had a net margin of 20.41% and a return on equity of 16.12%. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $170.13 million. During the same quarter in the prior year, the business posted $1.90 earnings per share. The company’s revenue was down 18.5% compared to the same quarter last year. Research analysts predict that Tenaris S.A. will post 3.3 EPS for the current 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.