Creative Planning Has $880,000 Stock Position in Tenaris S.A. (NYSE:TS)

Creative Planning boosted its stake in shares of Tenaris S.A. (NYSE:TS) by 13.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,824 shares of the industrial products company’s stock after purchasing an additional 3,519 shares during the quarter. Creative Planning’s holdings in Tenaris were worth $880,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Janiczek Wealth Management LLC raised its position in shares of Tenaris by 14.8% during the first 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 last quarter. Evergreen Capital Management LLC raised its holdings in Tenaris by 3.7% in the 2nd quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company’s stock valued at $608,000 after acquiring an additional 710 shares in the last quarter. Signaturefd LLC lifted its position in shares of Tenaris by 4.7% in 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 period. Ballentine Partners LLC grew its holdings in shares of 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Tenaris during the second quarter valued at approximately $32,000. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on TS shares. Piper Sandler reduced their target price on Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Stifel Nicolaus dropped their price objective on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday. Finally, StockNews.com lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $38.67.

Tenaris Price Performance

Shares of TS stock opened at $32.33 on Friday. The stock’s fifty day simple moving average is $29.36 and its 200 day simple moving average is $32.37. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.72. The firm has a market cap of $18.80 billion, a price-to-earnings ratio of 6.90 and a beta of 1.43.

Tenaris (NYSE:TS) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.38). The firm had revenue of $3.32 billion during the quarter, compared to analyst estimates of $170.13 million. Tenaris had a net margin of 20.41% and a return on equity of 16.12%. The firm’s revenue for the quarter was down 18.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.90 EPS. On average, research analysts anticipate that Tenaris S.A. will post 3.2 earnings per share 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.