Blue Trust Inc. Raises Stock Position in Tenaris S.A. $TS

Blue Trust Inc. raised its stake in shares of Tenaris S.A. (NYSE:TS) by 48.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,088 shares of the industrial products company’s stock after purchasing an additional 357 shares during the quarter. Blue Trust Inc.’s holdings in Tenaris were worth $41,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. PNC Financial Services Group Inc. grew its position in shares of Tenaris by 4.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,088 shares of the industrial products company’s stock worth $316,000 after buying an additional 308 shares during the period. Russell Investments Group Ltd. grew its position in shares of Tenaris by 10.6% in the 1st quarter. Russell Investments Group Ltd. now owns 3,636 shares of the industrial products company’s stock worth $142,000 after buying an additional 347 shares during the period. Baron Wealth Management LLC grew its position in shares of Tenaris by 7.0% in the 2nd quarter. Baron Wealth Management LLC now owns 5,852 shares of the industrial products company’s stock worth $219,000 after buying an additional 384 shares during the period. Advisors Asset Management Inc. grew its position in shares of Tenaris by 4.3% in the 1st quarter. Advisors Asset Management Inc. now owns 9,408 shares of the industrial products company’s stock worth $368,000 after buying an additional 390 shares during the period. Finally, Brooklyn Investment Group grew its position in shares of Tenaris by 169.5% in the 1st quarter. Brooklyn Investment Group now owns 717 shares of the industrial products company’s stock worth $28,000 after buying an additional 451 shares during the period. 10.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Piper Sandler cut shares of Tenaris from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $48.00 to $41.00 in a research note on Wednesday, September 17th. Sanford C. Bernstein assumed coverage on shares of Tenaris in a research note on Monday, July 21st. They issued an “outperform” rating on the stock. Barclays dropped their price target on shares of Tenaris from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. BNP Paribas Exane reiterated a “neutral” rating on shares of Tenaris in a research note on Friday, October 10th. Finally, Wall Street Zen upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Saturday. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $41.80.

Tenaris Stock Up 0.2%

NYSE TS opened at $34.42 on Friday. Tenaris S.A. has a 52 week low of $30.06 and a 52 week high of $40.87. The firm has a market capitalization of $20.01 billion, a P/E ratio of 9.35, a PEG ratio of 2.65 and a beta of 1.33. The company has a 50-day moving average price of $35.54 and a 200-day moving average price of $35.22.

Tenaris (NYSE:TS) last released its earnings results on Wednesday, July 30th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.11. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3 billion. Tenaris had a net margin of 17.02% and a return on equity of 11.71%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 EPS. As a group, equities research analysts anticipate that Tenaris S.A. will post 3.14 EPS 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.