Tenaris S.A. $TS Shares Acquired by Ethic Inc.

Ethic Inc. increased its stake in Tenaris S.A. (NYSE:TS) by 9.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,531 shares of the industrial products company’s stock after purchasing an additional 10,397 shares during the quarter. Ethic Inc.’s holdings in Tenaris were worth $4,560,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TS. Brooklyn Investment Group lifted its holdings in Tenaris by 169.5% in the first quarter. Brooklyn Investment Group now owns 717 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 451 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Tenaris in the second quarter worth about $28,000. Harbour Investments Inc. acquired a new stake in Tenaris in the first quarter worth about $39,000. Blue Trust Inc. lifted its holdings in Tenaris by 48.8% in the 2nd quarter. Blue Trust Inc. now owns 1,088 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 357 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Tenaris by 52.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,636 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 563 shares during the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Trading Up 3.8%

TS stock opened at $36.69 on Friday. Tenaris S.A. has a one year low of $30.06 and a one year high of $40.87. The firm has a market capitalization of $21.33 billion, a PE ratio of 9.97 and a beta of 1.33. The firm has a 50-day moving average of $35.51 and a two-hundred day moving average of $35.25.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TS. BNP Paribas Exane reissued a “neutral” rating on shares of Tenaris in a report on Friday, October 10th. BNP Paribas downgraded shares of Tenaris from an “outperform” rating to a “hold” rating in a report on Friday, October 10th. Wall Street Zen raised shares of Tenaris from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Sanford C. Bernstein began coverage on shares of Tenaris in a report on Monday, July 21st. They issued an “outperform” rating for the company. Finally, Piper Sandler downgraded shares of Tenaris from an “overweight” rating to a “neutral” rating and cut their price target for the company from $48.00 to $41.00 in a report on Wednesday, September 17th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $41.80.

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.