Ashton Thomas Private Wealth LLC Has $1.10 Million Stake in Tenaris S.A. $TS

Ashton Thomas Private Wealth LLC lifted its position in shares of Tenaris S.A. (NYSE:TS) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,511 shares of the industrial products company’s stock after acquiring an additional 1,080 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Tenaris were worth $1,104,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group raised its position in shares of Tenaris by 169.5% during the first quarter. Brooklyn Investment Group now owns 717 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 451 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Tenaris during the second quarter worth $28,000. Harbour Investments Inc. bought a new stake in shares of Tenaris during the first quarter worth $39,000. Blue Trust Inc. raised its position in shares of Tenaris by 48.8% during the second quarter. Blue Trust Inc. now owns 1,088 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 357 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Tenaris by 52.5% during the second quarter. GAMMA Investing LLC now owns 1,636 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 563 shares during the last quarter. Institutional investors own 10.45% of the company’s stock.

Tenaris Trading Up 0.9%

NYSE:TS opened at $38.04 on Thursday. Tenaris S.A. has a 1 year low of $30.06 and a 1 year high of $40.87. The stock has a market cap of $22.11 billion, a price-to-earnings ratio of 10.34 and a beta of 1.33. The stock has a 50-day moving average price of $35.63 and a two-hundred day moving average price of $35.46.

Tenaris (NYSE:TS) last posted its earnings results on Wednesday, October 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. Tenaris had a return on equity of 11.71% and a net margin of 17.02%.During the same period in the previous year, the business earned $0.81 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TS has been the subject of a number of recent research reports. Sanford C. Bernstein initiated coverage on Tenaris in a research report on Monday, July 21st. They set an “outperform” rating for the company. BNP Paribas Exane reiterated a “neutral” rating on shares of Tenaris in a report on Friday, October 10th. BNP Paribas downgraded Tenaris from an “outperform” rating to a “hold” rating in a report on Friday, October 10th. Barclays dropped their price objective on Tenaris from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Finally, Piper Sandler downgraded Tenaris from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $48.00 to $41.00 in a report on Wednesday, September 17th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.