Wellington Management Group LLP grew its holdings in shares of Tenaris S.A. (NYSE:TS – Free Report) by 2.2% in the second quarter, HoldingsChannel reports. The fund owned 2,458,033 shares of the industrial products company’s stock after buying an additional 52,999 shares during the period. Wellington Management Group LLP’s holdings in Tenaris were worth $136,396,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently modified their holdings of the business. AQR Capital Management LLC increased its stake in Tenaris by 14.3% during the 1st quarter. AQR Capital Management LLC now owns 23,662 shares of the industrial products company’s stock valued at $925,000 after buying an additional 2,969 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Tenaris in the first quarter valued at approximately $203,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of Tenaris in the first quarter valued at approximately $5,458,000. JPMorgan Chase & Co. increased its stake in shares of Tenaris by 77.4% during the second quarter. JPMorgan Chase & Co. now owns 16,877 shares of the industrial products company’s stock valued at $631,000 after acquiring an additional 7,363 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Tenaris by 4.2% during the second quarter. Rhumbline Advisers now owns 8,387 shares of the industrial products company’s stock valued at $314,000 after acquiring an additional 338 shares during the period. Institutional investors own 10.45% of the company’s stock.
Tenaris Price Performance
TS stock opened at $55.90 on Tuesday. Tenaris S.A. has a 12 month low of $33.65 and a 12 month high of $64.60. The firm has a market cap of $29.96 billion, a PE ratio of 14.95, a P/E/G ratio of 1.29 and a beta of 0.85. The firm has a 50 day simple moving average of $55.24 and a 200 day simple moving average of $57.19.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on TS shares. Piper Sandler boosted their target price on Tenaris from $56.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Morgan Stanley lowered their price target on Tenaris from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 20th. Zacks Research downgraded Tenaris from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Barclays cut their price objective on Tenaris from $82.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, August 10th. Finally, TD Cowen raised their target price on Tenaris from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $62.45.
Read Our Latest Report on Tenaris
Tenaris Profile
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.
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