Cornerstone Wealth Management LLC Invests $614,000 in Tenaris S.A. (NYSE:TS)

Cornerstone Wealth Management LLC acquired a new stake in Tenaris S.A. (NYSE:TS) in the third quarter, according to its most recent filing with the SEC. The fund acquired 19,320 shares of the industrial products company’s stock, valued at approximately $614,000.

Several other large investors have also added to or reduced their stakes in TS. Allspring Global Investments Holdings LLC purchased a new position in shares of Tenaris during the 2nd quarter valued at about $32,000. Headlands Technologies LLC grew its position in Tenaris by 1,486.0% during the 1st quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 1,486 shares during the last quarter. Janiczek Wealth Management LLC raised its holdings in Tenaris by 14.8% in 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. Blue Trust Inc. boosted its holdings in Tenaris by 79.0% in the second quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 1,583 shares during the last quarter. Finally, Naples Global Advisors LLC bought a new stake in shares of Tenaris during the 2nd quarter valued at $233,000. Institutional investors own 10.45% of the company’s stock.

Analyst Upgrades and Downgrades

TS has been the topic of a number of research analyst reports. Piper Sandler cut their price target on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus decreased their price objective on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $38.67.

Tenaris Stock Up 0.3 %

TS opened at $31.73 on Friday. The business has a fifty day simple moving average of $29.83 and a 200-day simple moving average of $32.05. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.72. The firm has a market cap of $18.45 billion, a P/E ratio of 6.77 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 earnings per share 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 analysts’ expectations of $170.13 million. During the same period in the previous year, the firm earned $1.90 EPS. The firm’s revenue was down 18.5% on a year-over-year basis. Sell-side analysts expect 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.