Tenaris S.A. $TS Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP raised its stake in shares of Tenaris S.A. (NYSE:TS) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,458,033 shares of the industrial products company’s stock after acquiring an additional 52,999 shares during the quarter. Wellington Management Group LLP owned approximately 0.46% of Tenaris worth $136,396,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Tenaris during the fourth quarter worth about $48,000. Raymond James Financial Inc. acquired a new stake in Tenaris during the second quarter valued at approximately $49,000. Advisory Services Network LLC acquired a new stake in Tenaris during the third quarter valued at approximately $47,000. Global Retirement Partners LLC lifted its holdings in Tenaris by 1,066.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,505 shares of the industrial products company’s stock worth $58,000 after buying an additional 1,376 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its position in shares of Tenaris by 4,675.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,576 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 1,543 shares in the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wall Street Zen lowered Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. TD Cowen lifted their price objective on shares of Tenaris from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Barclays lowered their target price on shares of Tenaris from $82.00 to $80.00 and set an “overweight” rating for the company in a research note on Monday, August 10th. Weiss Ratings cut shares of Tenaris from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 7th. Finally, Morgan Stanley reduced their price target on shares of Tenaris from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 20th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $62.45.

Tenaris Price Performance

Shares of NYSE TS opened at $55.90 on Tuesday. The firm has a market capitalization of $29.96 billion, a PE ratio of 14.95, a P/E/G ratio of 1.29 and a beta of 0.85. Tenaris S.A. has a 1-year low of $33.65 and a 1-year high of $64.60. The business’s fifty day moving average price is $55.24 and its two-hundred day moving average price is $57.19.

Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.79 by $0.16. Tenaris had a net margin of 15.88% and a return on equity of 11.14%. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The company’s quarterly revenue was down 3.9% on a year-over-year basis. Equities research analysts expect that Tenaris S.A. will post 3.71 earnings per share for the current fiscal year.

About Tenaris

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.