Advisors Asset Management Inc. Boosts Holdings in Tenaris S.A. $TS

Advisors Asset Management Inc. grew its position in Tenaris S.A. (NYSE:TS) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,408 shares of the industrial products company’s stock after buying an additional 390 shares during the period. Advisors Asset Management Inc.’s holdings in Tenaris were worth $368,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group grew its position in Tenaris by 169.5% in the first quarter. Brooklyn Investment Group now owns 717 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 451 shares during the period. Harbour Investments Inc. purchased a new position in Tenaris in the first quarter worth approximately $39,000. Farther Finance Advisors LLC grew its position in Tenaris by 93.2% in the first quarter. Farther Finance Advisors LLC now owns 1,660 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 801 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Tenaris by 46.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,890 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 600 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in Tenaris by 106.7% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,150 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 1,110 shares during the period. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays lowered their price objective on Tenaris from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Sanford C. Bernstein assumed coverage on shares of Tenaris in a research report on Monday, July 21st. They set an “outperform” rating for the company. Morgan Stanley lowered their price objective on shares of Tenaris from $35.00 to $34.00 and set an “underweight” rating for the company in a research report on Friday, May 16th. Piper Sandler lowered their price objective on shares of Tenaris from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, August 14th. Finally, Wall Street Zen cut shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $43.20.

Tenaris Trading Up 1.3%

Shares of NYSE TS opened at $36.05 on Friday. The stock has a market cap of $20.96 billion, a P/E ratio of 9.79, a PEG ratio of 2.68 and a beta of 1.39. Tenaris S.A. has a 12-month low of $28.07 and a 12-month high of $40.87. The business’s fifty day simple moving average is $36.51 and its 200-day simple moving average is $35.77.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.11. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3 billion. Tenaris had a return on equity of 11.71% and a net margin of 17.02%.The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period last year, the firm earned $0.59 earnings per share. On average, equities analysts forecast that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris announced that its Board of Directors has authorized a share buyback plan on Tuesday, May 27th that permits the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Tenaris Company 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.