Tenaris S.A. (NYSE:TS) Shares Bought by Blue Trust Inc.

Blue Trust Inc. lifted its position in shares of Tenaris S.A. (NYSE:TS) by 95.9% during the third quarter, Holdings Channel reports. The firm owned 7,028 shares of the industrial products company’s stock after acquiring an additional 3,440 shares during the quarter. Blue Trust Inc.’s holdings in Tenaris were worth $214,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in Tenaris during the 2nd quarter worth $32,000. Headlands Technologies LLC boosted its stake in shares of Tenaris by 1,486.0% during the first quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock worth $62,000 after buying an additional 1,486 shares during the period. Capstone Investment Advisors LLC purchased a new position in shares of Tenaris during the first quarter worth about $257,000. Envestnet Portfolio Solutions Inc. acquired a new position in Tenaris in the 1st quarter valued at about $293,000. Finally, Naples Global Advisors LLC purchased a new stake in Tenaris during the 2nd quarter valued at approximately $233,000. 10.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TS shares. StockNews.com lowered Tenaris from a “buy” rating to a “hold” rating in a report on Saturday. Stifel Nicolaus dropped their price objective on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Finally, Piper Sandler reduced their target price on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. 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 stock. Based on data from MarketBeat, Tenaris currently has a consensus rating of “Hold” and a consensus target price of $38.67.

Tenaris Price Performance

Shares of TS stock opened at $32.16 on Friday. The business’s fifty day moving average price is $30.13 and its 200 day moving average price is $31.83. The firm has a market capitalization of $18.70 billion, a PE ratio of 6.86 and a beta of 1.43. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.72.

Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.38). The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $170.13 million. Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The business’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period last year, the company earned $1.90 earnings per share. Equities research analysts expect that Tenaris S.A. will post 3.25 earnings per share for the current fiscal 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.