173,766 Shares in Tenaris S.A. $TS Acquired by Kiltearn Partners LLP

Kiltearn Partners LLP acquired a new stake in Tenaris S.A. (NYSE:TS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 173,766 shares of the industrial products company’s stock, valued at approximately $9,642,000. Tenaris accounts for about 2.3% of Kiltearn Partners LLP’s portfolio, making the stock its 17th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new position in shares of Tenaris during the third quarter worth approximately $47,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Tenaris during the 4th quarter valued at $48,000. Raymond James Financial Inc. bought a new stake in Tenaris during the 2nd quarter valued at $49,000. Global Retirement Partners LLC raised its holdings in Tenaris by 1,066.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,505 shares of the industrial products company’s stock worth $58,000 after buying an additional 1,376 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in Tenaris by 4,675.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,576 shares of the industrial products company’s stock worth $61,000 after buying an additional 1,543 shares during the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Trading Down 0.1%

Shares of NYSE:TS opened at $52.61 on Friday. The stock has a market cap of $28.20 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.26 and a beta of 0.85. The stock’s fifty day simple moving average is $55.78 and its two-hundred day simple moving average is $56.78. Tenaris S.A. has a 1-year low of $33.65 and a 1-year high of $64.60.

Tenaris (NYSE:TS) last posted its earnings results on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.16. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.93 billion. Tenaris had a net margin of 15.88% and a return on equity of 11.14%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 EPS. On average, sell-side analysts forecast that Tenaris S.A. will post 3.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TS shares. TD Cowen lifted their price objective on shares of Tenaris from $67.00 to $68.00 and gave the company a “buy” rating in a report on Friday, August 7th. Zacks Research lowered shares of Tenaris from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Piper Sandler raised their price target on shares of Tenaris from $56.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, May 18th. Morgan Stanley dropped their price target on shares of Tenaris from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Wall Street Zen downgraded Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Tenaris has a consensus rating of “Hold” and a consensus target price of $62.45.

Tenaris Company 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.