Tenaris S.A. $TS Stock Holdings Raised by Hennessy Advisors Inc.

Hennessy Advisors Inc. raised its stake in Tenaris S.A. (NYSE:TS) by 71.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 12,000 shares of the industrial products company’s stock after purchasing an additional 5,000 shares during the period. Hennessy Advisors Inc.’s holdings in Tenaris were worth $449,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group increased its position in shares of Tenaris by 169.5% in the 1st quarter. Brooklyn Investment Group now owns 717 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 451 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Tenaris in the 2nd quarter worth about $28,000. Harbour Investments Inc. bought a new stake in shares of Tenaris in the 1st quarter worth about $39,000. GAMMA Investing LLC increased its position in shares of Tenaris by 52.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,636 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 563 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Tenaris by 93.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,660 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 801 shares during the last quarter. Institutional investors own 10.45% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on TS shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tenaris in a report on Saturday, September 27th. Piper Sandler lowered shares of Tenaris from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $48.00 to $41.00 in a report on Wednesday, September 17th. Sanford C. Bernstein started coverage on shares of Tenaris in a report on Monday, July 21st. They issued an “outperform” rating for the company. Barclays decreased their price target on shares of Tenaris from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Finally, Wall Street Zen lowered shares of Tenaris from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $41.80.

Tenaris Trading Up 1.1%

NYSE TS opened at $36.37 on Friday. Tenaris S.A. has a 52 week low of $30.06 and a 52 week high of $40.87. The stock has a market cap of $21.15 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 2.75 and a beta of 1.33. The company has a 50-day moving average price of $35.75 and a two-hundred day moving average price of $35.53.

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

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.