Point72 Asset Management L.P. Boosts Position in Tenaris S.A. (NYSE:TS)

Point72 Asset Management L.P. increased its holdings in Tenaris S.A. (NYSE:TS) by 9.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 518,692 shares of the industrial products company’s stock after acquiring an additional 43,844 shares during the quarter. Point72 Asset Management L.P. owned about 0.09% of Tenaris worth $15,830,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its position in Tenaris by 10.9% during the 2nd quarter. Van ECK Associates Corp now owns 3,183,299 shares of the industrial products company’s stock valued at $97,154,000 after acquiring an additional 313,185 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Tenaris by 46.2% during the second quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock valued at $79,109,000 after purchasing an additional 819,500 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in Tenaris by 91.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,576,096 shares of the industrial products company’s stock worth $89,545,000 after purchasing an additional 1,228,287 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Tenaris by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company’s stock worth $70,009,000 after purchasing an additional 56,935 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Tenaris by 33.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,155,173 shares of the industrial products company’s stock worth $40,154,000 after purchasing an additional 291,118 shares in the last quarter. Institutional investors own 10.45% of the company’s stock.

Tenaris Stock Performance

NYSE:TS opened at $31.57 on Monday. The firm has a 50-day simple moving average of $29.19 and a two-hundred day simple moving average of $32.71. The firm has a market cap of $18.35 billion, a P/E ratio of 5.26 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 announced its quarterly earnings data 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). Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The firm had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $170.13 million. During the same quarter in the previous year, the firm earned $1.90 earnings per share. Tenaris’s revenue was down 18.5% on a year-over-year basis. On average, equities research analysts predict that Tenaris S.A. will post 3.18 EPS for the current year.

Analyst Ratings Changes

TS has been the topic of a number of recent research reports. Piper Sandler reduced their target price on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. StockNews.com downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $39.00.

About Tenaris

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.