Dimensional Fund Advisors LP Sells 113,821 Shares of Tenaris S.A. $TS

Dimensional Fund Advisors LP lowered its position in shares of Tenaris S.A. (NYSE:TS) by 9.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,121,007 shares of the industrial products company’s stock after selling 113,821 shares during the quarter. Dimensional Fund Advisors LP owned 0.21% of Tenaris worth $65,219,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Sourcerock Group LLC boosted its holdings in Tenaris by 25.9% in the 2nd quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock worth $115,419,000 after buying an additional 635,817 shares during the period. Wellington Management Group LLP increased its stake in Tenaris by 25.6% in the 4th quarter. Wellington Management Group LLP now owns 2,682,137 shares of the industrial products company’s stock worth $103,128,000 after buying an additional 546,144 shares in the last quarter. Invesco Ltd. raised its holdings in Tenaris by 514.6% during the fourth quarter. Invesco Ltd. now owns 546,204 shares of the industrial products company’s stock valued at $21,002,000 after acquiring an additional 457,332 shares during the period. Van ECK Associates Corp lifted its position in shares of Tenaris by 25.4% in the fourth quarter. Van ECK Associates Corp now owns 2,019,185 shares of the industrial products company’s stock valued at $77,638,000 after acquiring an additional 408,592 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Tenaris in the second quarter valued at about $9,102,000. 10.45% of the stock is currently owned by institutional investors.

Tenaris Stock Up 1.1%

Tenaris stock opened at $57.34 on Friday. The company has a market cap of $30.73 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 1.38 and a beta of 0.84. The firm’s fifty day moving average is $58.22 and its 200 day moving average is $55.64. Tenaris S.A. has a 52-week low of $33.65 and a 52-week high of $64.60.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.20. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Tenaris had a net margin of 16.17% and a return on equity of 11.53%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. On average, equities research analysts anticipate that Tenaris S.A. will post 3.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Tenaris from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Weiss Ratings lowered shares of Tenaris from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. Piper Sandler raised their target price on shares of Tenaris from $56.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Zacks Research upgraded shares of Tenaris from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Finally, Morgan Stanley upgraded shares of Tenaris from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $53.00 to $65.00 in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.12.

About Tenaris

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.