17,631 Shares in Tenaris S.A. $TS Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new position in shares of Tenaris S.A. (NYSE:TSFree Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 17,631 shares of the industrial products company’s stock, valued at approximately $1,026,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its position in Tenaris by 8.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 656,439 shares of the industrial products company’s stock worth $25,240,000 after buying an additional 53,553 shares in the last quarter. Assetmark Inc. increased its stake in shares of Tenaris by 4.9% in the 4th quarter. Assetmark Inc. now owns 503,917 shares of the industrial products company’s stock valued at $19,376,000 after purchasing an additional 23,702 shares during the last quarter. Ethic Inc. raised its holdings in shares of Tenaris by 11.6% during the 4th quarter. Ethic Inc. now owns 144,124 shares of the industrial products company’s stock worth $5,542,000 after buying an additional 14,957 shares in the last quarter. Illumine Investment Management LLC bought a new stake in shares of Tenaris during the 1st quarter worth $1,024,000. Finally, Chesapeake Capital Corp IL acquired a new position in Tenaris during the 4th quarter worth approximately $626,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TS shares. Barclays raised their price objective on Tenaris to $82.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Weiss Ratings downgraded Tenaris from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, July 10th. Piper Sandler lifted their price objective on shares of Tenaris from $56.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Morgan Stanley upgraded Tenaris from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $53.00 to $65.00 in a report on Wednesday, July 15th. Finally, Zacks Research upgraded shares of Tenaris from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Tenaris presently has a consensus rating of “Moderate Buy” and an average target price of $62.12.

Read Our Latest Stock Analysis on Tenaris

Tenaris Stock Performance

Shares of TS stock opened at $57.66 on Friday. The firm has a market cap of $30.91 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 1.40 and a beta of 0.84. Tenaris S.A. has a 52 week low of $33.65 and a 52 week high of $64.60. The firm’s 50-day simple moving average is $58.72 and its two-hundred day simple moving average is $55.08.

Tenaris (NYSE:TSGet Free Report) last released its earnings results on Thursday, May 7th. The industrial products company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.20. Tenaris had a net margin of 16.17% and a return on equity of 11.53%. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the prior year, the firm earned $0.94 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. Analysts forecast that Tenaris S.A. will post 3.66 earnings per share for the current year.

Tenaris Profile

(Free Report)

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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Institutional Ownership by Quarter for Tenaris (NYSE:TS)

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