Evergreen Capital Management LLC Has $608,000 Stake in Tenaris S.A. (NYSE:TS)

Evergreen Capital Management LLC raised its stake in shares of Tenaris S.A. (NYSE:TS) by 3.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 19,932 shares of the industrial products company’s stock after acquiring an additional 710 shares during the quarter. Evergreen Capital Management LLC’s holdings in Tenaris were worth $608,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new stake in Tenaris in the 2nd quarter worth approximately $32,000. Headlands Technologies LLC boosted its holdings in shares of Tenaris by 1,486.0% during the 1st 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. Janiczek Wealth Management LLC grew its stake 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 valued at $106,000 after buying an additional 347 shares during the last quarter. Blue Trust Inc. raised its holdings in Tenaris by 79.0% in 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 lifted its position in 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 during the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TS. Piper Sandler lowered their price target on Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Stifel Nicolaus dropped their price target on Tenaris from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, StockNews.com cut Tenaris from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tenaris presently has an average rating of “Hold” and a consensus price target of $39.00.

Tenaris Stock Up 0.3 %

Shares of TS opened at $30.74 on Thursday. The stock’s 50-day moving average price is $29.24 and its 200 day moving average price is $32.87. The firm has a market capitalization of $17.87 billion, a price-to-earnings ratio of 5.12 and a beta of 1.43. Tenaris S.A. has a 12-month low of $27.24 and a 12-month high of $40.72.

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 analysts’ consensus estimates of $0.97 by ($0.38). The firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $170.13 million. Tenaris had a net margin of 20.41% and a return on equity of 16.12%. The business’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 earnings per share. Equities research analysts expect that Tenaris S.A. will post 3.18 EPS for the current 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.