Victory Financial Group LLC Acquires New Holdings in Tenaris S.A. $TS

Victory Financial Group LLC acquired a new position in shares of Tenaris S.A. (NYSE:TS) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 8,344 shares of the industrial products company’s stock, valued at approximately $460,000.

A number of other hedge funds have also recently made changes to their positions in TS. Viewpoint Investment Partners Corp boosted its holdings in shares of Tenaris by 68.3% in the 3rd quarter. Viewpoint Investment Partners Corp now owns 23,900 shares of the industrial products company’s stock valued at $1,319,000 after buying an additional 9,700 shares in the last quarter. Polaris Financial Partners bought a new position in shares of Tenaris during the 3rd quarter worth approximately $26,000. Sequoia Financial Advisors LLC raised its stake in shares of Tenaris by 14.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,754 shares of the industrial products company’s stock worth $430,000 after acquiring an additional 990 shares in the last quarter. Tidal Investments LLC lifted its position in Tenaris by 17.2% during the second quarter. Tidal Investments LLC now owns 21,660 shares of the industrial products company’s stock valued at $1,202,000 after acquiring an additional 3,183 shares during the last quarter. Finally, Allworth Financial LP lifted its position in Tenaris by 116.0% during the second quarter. Allworth Financial LP now owns 661 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 355 shares during the last quarter. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Tenaris Stock Performance

Shares of TS opened at $60.29 on Thursday. The stock has a 50-day moving average of $56.44 and a two-hundred day moving average of $55.75. The stock has a market cap of $32.32 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.66 and a beta of 0.89. Tenaris S.A. has a one year low of $37.69 and a one year high of $64.60.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.16. Tenaris had a return on equity of 11.14% and a net margin of 15.88%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period in the prior year, the company earned $0.50 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis. Analysts predict that Tenaris S.A. will post 3.75 EPS for the current fiscal year.

Analysts Set New Price Targets

TS has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of Tenaris from $60.00 to $62.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 14th. TD Cowen lifted their price target on shares of Tenaris from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Bank of America upped their price target on Tenaris from $66.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, October 5th. Weiss Ratings lowered Tenaris from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Finally, Barclays lowered their price objective on Tenaris from $82.00 to $80.00 and set an “overweight” rating for the company in a research report on Monday, August 10th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Tenaris has an average rating of “Moderate Buy” and an average target price of $63.96.

Tenaris Profile

Tenaris SA (NYSE: TS) is a global manufacturer and supplier of steel tubular products and related services. The company primarily serves the energy industry, producing seamless and welded steel pipes used in oil and natural gas exploration, production, transportation and processing. Its offerings include oil country tubular goods, line pipe, premium connections, coiled tubing and sucker rods.

Tenaris also supplies pipes for industrial and mechanical applications, including products used in power generation, automotive manufacturing, construction and other specialized industries.