Federated Hermes Inc. Has $5.29 Million Position in Tenaris S.A. (NYSE:TS)

Federated Hermes Inc. cut its stake in Tenaris S.A. (NYSE:TS) by 18.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,408 shares of the industrial products company’s stock after selling 39,038 shares during the period. Federated Hermes Inc.’s holdings in Tenaris were worth $5,292,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Tenaris in the second quarter worth $32,000. Headlands Technologies LLC increased its holdings in Tenaris by 1,486.0% in the 1st quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock valued at $62,000 after buying an additional 1,486 shares during the period. Janiczek Wealth Management LLC raised its position in shares of Tenaris by 14.8% in the 1st quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company’s stock valued at $106,000 after buying an additional 347 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Tenaris by 79.0% during the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock worth $110,000 after acquiring an additional 1,583 shares during the period. Finally, Parallel Advisors LLC boosted its position 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 in the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Tenaris Stock Down 0.3 %

Shares of TS stock opened at $29.22 on Thursday. Tenaris S.A. has a twelve month low of $27.24 and a twelve month high of $40.72. The stock’s fifty day simple moving average is $29.37 and its 200 day simple moving average is $33.10. The firm has a market capitalization of $16.99 billion, a P/E ratio of 4.87 and a beta of 1.43.

Tenaris (NYSE:TS) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $170.13 million. During the same period in the prior year, the company earned $1.90 EPS. The business’s quarterly revenue was down 18.5% compared to the same quarter last year. As a group, equities research analysts expect that Tenaris S.A. will post 3.3 EPS for the current fiscal year.

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.