1832 Asset Management L.P. Cuts Stake in Tenaris S.A. (NYSE:TS)

1832 Asset Management L.P. lessened its holdings in shares of Tenaris S.A. (NYSE:TSFree Report) by 9.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,250 shares of the industrial products company’s stock after selling 3,050 shares during the quarter. 1832 Asset Management L.P.’s holdings in Tenaris were worth $982,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Westwood Global Investments LLC lifted its holdings in shares of Tenaris by 2.8% in the third quarter. Westwood Global Investments LLC now owns 8,825,549 shares of the industrial products company’s stock worth $278,887,000 after buying an additional 243,148 shares in the last quarter. FMR LLC boosted its holdings in shares of Tenaris by 3.0% during the 3rd quarter. FMR LLC now owns 3,135,820 shares of the industrial products company’s stock valued at $99,092,000 after purchasing an additional 90,940 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Tenaris by 101.5% during the third quarter. Wellington Management Group LLP now owns 877,305 shares of the industrial products company’s stock valued at $27,723,000 after purchasing an additional 442,016 shares in the last quarter. Natixis Advisors L.P. increased its holdings in shares of Tenaris by 7.2% in the fourth quarter. Natixis Advisors L.P. now owns 642,049 shares of the industrial products company’s stock worth $22,317,000 after purchasing an additional 43,223 shares during the last quarter. Finally, Pantechnicon Advisors LLP lifted its position in shares of Tenaris by 24.7% in the third quarter. Pantechnicon Advisors LLP now owns 605,000 shares of the industrial products company’s stock worth $19,118,000 after buying an additional 120,000 shares in the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Trading Down 0.8 %

TS opened at $32.00 on Monday. The stock has a 50-day moving average of $35.64 and a 200 day moving average of $34.94. Tenaris S.A. has a 12 month low of $27.31 and a 12 month high of $40.72. The firm has a market cap of $18.60 billion, a P/E ratio of 5.33, a P/E/G ratio of 0.29 and a beta of 1.48.

Tenaris (NYSE:TSGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.23. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.34 billion. Tenaris had a return on equity of 21.11% and a net margin of 24.89%. On average, research analysts forecast that Tenaris S.A. will post 3.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TS shares. Morgan Stanley cut Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price target for the company. in a report on Thursday, April 18th. Piper Sandler cut their target price on shares of Tenaris from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $41.60.

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Tenaris Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Tenaris (NYSE:TS)

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