Exencial Wealth Advisors LLC Buys 1,409 Shares of Tenaris S.A. $TS

Exencial Wealth Advisors LLC lifted its stake in Tenaris S.A. (NYSE:TS) by 4.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,762 shares of the industrial products company’s stock after acquiring an additional 1,409 shares during the period. Exencial Wealth Advisors LLC’s holdings in Tenaris were worth $1,225,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. MGO One Seven LLC increased its position in Tenaris by 5.4% during the 2nd quarter. MGO One Seven LLC now owns 5,940 shares of the industrial products company’s stock valued at $222,000 after buying an additional 302 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Tenaris by 4.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,088 shares of the industrial products company’s stock valued at $316,000 after buying an additional 308 shares in the last quarter. Russell Investments Group Ltd. increased its position in Tenaris by 10.6% during the 1st quarter. Russell Investments Group Ltd. now owns 3,636 shares of the industrial products company’s stock valued at $142,000 after buying an additional 347 shares in the last quarter. Blue Trust Inc. increased its position in Tenaris by 48.8% during the 2nd quarter. Blue Trust Inc. now owns 1,088 shares of the industrial products company’s stock valued at $41,000 after buying an additional 357 shares in the last quarter. Finally, Baron Wealth Management LLC increased its position in Tenaris by 7.0% during the 2nd quarter. Baron Wealth Management LLC now owns 5,852 shares of the industrial products company’s stock valued at $219,000 after buying an additional 384 shares in the last quarter. 10.45% of the stock is owned by institutional investors.

Tenaris Stock Performance

Tenaris stock opened at $36.69 on Friday. The business’s 50-day simple moving average is $35.51 and its two-hundred day simple moving average is $35.25. The company has a market cap of $21.33 billion, a PE ratio of 9.97 and a beta of 1.33. Tenaris S.A. has a fifty-two week low of $30.06 and a fifty-two week high of $40.87.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TS. Piper Sandler lowered Tenaris from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $48.00 to $41.00 in a research report on Wednesday, September 17th. Sanford C. Bernstein began coverage on Tenaris in a research report on Monday, July 21st. They set an “outperform” rating on the stock. BNP Paribas lowered Tenaris from an “outperform” rating to a “hold” rating in a research report on Friday, October 10th. BNP Paribas Exane reaffirmed a “neutral” rating on shares of Tenaris in a research report on Friday, October 10th. Finally, Barclays dropped their price target on Tenaris from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Four research 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.com, Tenaris currently has an average rating of “Hold” and an average price target of $41.80.

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.