Blue Trust Inc. Increases Stake in Tenaris S.A. $TS

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of TS. Alua Capital Management LP bought a new position in shares of Tenaris during the 1st quarter valued at approximately $93,370,000. Encompass Capital Advisors LLC boosted its stake in Tenaris by 90.7% during the first quarter. Encompass Capital Advisors LLC now owns 2,097,540 shares of the industrial products company’s stock worth $82,035,000 after buying an additional 997,540 shares during the period. Northern Trust Corp boosted its stake in Tenaris by 109.6% during the first quarter. Northern Trust Corp now owns 462,542 shares of the industrial products company’s stock worth $18,090,000 after buying an additional 241,853 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Tenaris by 47.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 754,994 shares of the industrial products company’s stock worth $29,528,000 after buying an additional 241,290 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Tenaris during the first quarter worth $5,458,000. 10.45% of the stock is currently owned by institutional investors.

Tenaris Trading Up 0.2%

Shares of TS opened at $34.42 on Friday. The firm has a market capitalization of $20.01 billion, a P/E ratio of 9.35, a P/E/G ratio of 2.65 and a beta of 1.33. Tenaris S.A. has a 12-month low of $30.06 and a 12-month high of $40.87. The firm has a fifty day moving average price of $35.54 and a 200-day moving average price of $35.22.

Tenaris (NYSE:TS) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.11. The firm 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 business’s revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 earnings per share. Analysts predict that Tenaris S.A. will post 3.14 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on TS shares. BNP Paribas lowered shares of Tenaris from an “outperform” rating to a “hold” rating in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tenaris in a research note on Tuesday, October 14th. Wall Street Zen raised shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Saturday. Piper Sandler lowered shares of Tenaris from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $48.00 to $41.00 in a research note on Wednesday, September 17th. Finally, BNP Paribas Exane reissued a “neutral” rating on shares of Tenaris in a research note on Friday, October 10th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.