Bank of New York Mellon Corp lessened its holdings in shares of Tenaris SA (NYSE:TS) by 21.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 248,773 shares of the industrial products company’s stock after selling 69,885 shares during the period. Bank of New York Mellon Corp’s holdings in Tenaris were worth $9,052,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Sei Investments Co. lifted its holdings in shares of Tenaris by 18.5% during the second quarter. Sei Investments Co. now owns 74,355 shares of the industrial products company’s stock worth $2,706,000 after purchasing an additional 11,595 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Tenaris in the second quarter valued at $780,000. First Trust Advisors LP acquired a new position in Tenaris in the second quarter valued at $450,000. Massachusetts Financial Services Co. MA lifted its holdings in Tenaris by 21.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 36,183 shares of the industrial products company’s stock valued at $1,317,000 after buying an additional 6,414 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in Tenaris in the second quarter valued at $485,000. Institutional investors own 13.96% of the company’s stock.
TS opened at $34.24 on Thursday. Tenaris SA has a 1-year low of $25.91 and a 1-year high of $40.64. The firm has a market capitalization of $19.47 billion, a price-to-earnings ratio of 44.47, a P/E/G ratio of 0.65 and a beta of 0.57.
Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, August 1st. The industrial products company reported $0.29 earnings per share for the quarter, meeting the consensus estimate of $0.29. Tenaris had a net margin of 10.21% and a return on equity of 5.74%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the firm posted $0.06 earnings per share. The business’s revenue was up 43.9% compared to the same quarter last year. equities research analysts predict that Tenaris SA will post 1.39 EPS for the current year.
Several equities analysts recently issued reports on TS shares. Jefferies Financial Group started coverage on shares of Tenaris in a report on Thursday, August 23rd. They issued a “buy” rating on the stock. BNP Paribas upgraded shares of Tenaris from an “underperform” rating to a “neutral” rating in a report on Thursday, June 21st. ValuEngine lowered shares of Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, June 16th. Bank of America upgraded shares of Tenaris from an “underperform” rating to a “buy” rating and boosted their target price for the company from $30.00 to $40.00 in a report on Tuesday. Finally, Zacks Investment Research lowered shares of Tenaris from a “strong-buy” rating to a “hold” rating and set a $41.00 target price on the stock. in a report on Friday, June 29th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Tenaris currently has an average rating of “Buy” and an average target price of $42.04.
Tenaris SA 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 products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, tubular and non-tubular accessories, and devices.
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