6,256 Shares in Tenaris S.A. (NYSE:TS) Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC acquired a new stake in shares of Tenaris S.A. (NYSE:TS) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,256 shares of the industrial products company’s stock, valued at approximately $245,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Tenaris by 78.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock worth $41,000 after buying an additional 478 shares during the period. Headlands Technologies LLC purchased a new position in shares of Tenaris in the 4th quarter valued at $42,000. Smartleaf Asset Management LLC increased its holdings in shares of Tenaris by 291.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 1,284 shares during the period. Covestor Ltd increased its holdings in shares of Tenaris by 37.2% in the 4th quarter. Covestor Ltd now owns 1,729 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 469 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Tenaris by 46.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,890 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 600 shares during the period. 10.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Stifel Nicolaus lowered their price objective on Tenaris from $43.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Barclays set a $48.00 price objective on Tenaris and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Wall Street Zen upgraded Tenaris from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. BNP Paribas initiated coverage on Tenaris in a research note on Tuesday, April 22nd. They set an “outperform” rating for the company. Finally, Morgan Stanley reduced their price objective on Tenaris from $35.00 to $34.00 and set an “underweight” rating for the company in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.00.

Tenaris Stock Performance

NYSE TS opened at $36.22 on Tuesday. The business has a fifty day moving average price of $33.73 and a 200 day moving average price of $36.52. The company has a market cap of $21.06 billion, a P/E ratio of 10.03 and a beta of 1.27. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.87.

Tenaris (NYSE:TS) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.14. The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The company’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.27 earnings per share. As a group, sell-side analysts predict that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris declared that its board has authorized a share repurchase program on Tuesday, May 27th that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 6.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Tenaris 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.