Tcfg Wealth Management LLC Invests $533,000 in Tenaris S.A. $TS

Tcfg Wealth Management LLC acquired a new position in shares of Tenaris S.A. (NYSE:TS) in the 2nd quarter, Holdings Channel reports. The fund acquired 14,245 shares of the industrial products company’s stock, valued at approximately $533,000.

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

Tenaris Stock Down 0.6%

TS stock opened at $36.17 on Tuesday. The stock has a market capitalization of $21.03 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 2.75 and a beta of 1.33. The stock’s fifty day simple moving average is $35.71 and its 200-day simple moving average is $35.48. Tenaris S.A. has a 52-week low of $30.06 and a 52-week high of $40.87.

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

Wall Street Analysts Forecast Growth

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

Tenaris Company 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.