AdvisorNet Financial Inc Buys Shares of 1,765 Tenaris S.A. $TS

AdvisorNet Financial Inc bought a new position in shares of Tenaris S.A. (NYSE:TS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,765 shares of the industrial products company’s stock, valued at approximately $66,000.

Several other hedge funds and other institutional investors have also modified their holdings of TS. Brooklyn Investment Group grew its position in shares of Tenaris by 169.5% during the 1st quarter. Brooklyn Investment Group now owns 717 shares of the industrial products company’s stock valued at $28,000 after buying an additional 451 shares during the last quarter. Harbour Investments Inc. bought a new position in shares of Tenaris during the first quarter valued at approximately $39,000. GAMMA Investing LLC raised its position in shares of Tenaris by 52.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,636 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 563 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Tenaris by 93.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,660 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 801 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 worth $71,000 after purchasing an additional 600 shares during the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on TS. Barclays lowered their price target on shares of Tenaris from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Piper Sandler cut shares of Tenaris from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $48.00 to $41.00 in a research report on Wednesday, September 17th. Wall Street Zen lowered Tenaris from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. Finally, Sanford C. Bernstein assumed coverage on Tenaris in a research report on Monday, July 21st. They set an “outperform” rating for the company. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.80.

Tenaris Stock Up 1.6%

NYSE:TS opened at $35.33 on Friday. The business’s 50-day moving average price is $35.93 and its 200 day moving average price is $35.63. Tenaris S.A. has a 52-week low of $30.06 and a 52-week high of $40.87. The firm has a market cap of $20.54 billion, a P/E ratio of 9.60, a PEG ratio of 2.63 and a beta of 1.39.

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, topping the consensus estimate of $0.88 by $0.11. Tenaris had a net margin of 17.02% and a return on equity of 11.71%. The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the previous year, the company posted $0.59 EPS. The business’s revenue was down 7.1% compared to the same quarter last year. Sell-side analysts expect that Tenaris S.A. will post 3.14 EPS for the current year.

About Tenaris

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.