Appian Way Asset Management LP Invests $2.47 Million in Tenaris S.A. (NYSE:TS)

Appian Way Asset Management LP bought a new stake in Tenaris S.A. (NYSE:TS) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 80,878 shares of the industrial products company’s stock, valued at approximately $2,468,000. Tenaris accounts for about 0.6% of Appian Way Asset Management LP’s portfolio, making the stock its 28th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Tenaris during the second quarter valued at $32,000. Headlands Technologies LLC grew its position 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 in the last quarter. Janiczek Wealth Management LLC increased its stake in Tenaris by 14.8% during 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 during the period. Blue Trust Inc. raised its position 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 buying an additional 1,583 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Tenaris by 20.3% in 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. Institutional investors own 10.45% of the company’s stock.

Tenaris Stock Down 0.4 %

TS opened at $29.40 on Tuesday. The business has a fifty day simple moving average of $29.26 and a 200-day simple moving average of $32.92. The firm has a market cap of $17.09 billion, a PE ratio of 4.90 and a beta of 1.43. Tenaris S.A. has a fifty-two week low of $27.24 and a fifty-two week high of $40.72.

Tenaris (NYSE:TS) last posted 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 return on equity of 16.12% and a net margin of 20.41%. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $170.13 million. During the same quarter in the previous year, the firm posted $1.90 EPS. Tenaris’s quarterly revenue was down 18.5% on a year-over-year basis. On average, equities research analysts anticipate that Tenaris S.A. will post 3.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TS shares. Stifel Nicolaus decreased their price target on Tenaris from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Piper Sandler lowered their target price on Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. 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 given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Tenaris presently 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.