GAMMA Investing LLC Has $61,000 Stock Holdings in Tenaris S.A. $TS

GAMMA Investing LLC increased its holdings in shares of Tenaris S.A. (NYSE:TS) by 52.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,636 shares of the industrial products company’s stock after buying an additional 563 shares during the period. GAMMA Investing LLC’s holdings in Tenaris were worth $61,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Viking Fund Management LLC boosted its position in Tenaris by 12.0% during the 2nd quarter. Viking Fund Management LLC now owns 28,000 shares of the industrial products company’s stock worth $1,047,000 after buying an additional 3,000 shares during the period. Baron Wealth Management LLC boosted its position in Tenaris by 7.0% during the 2nd quarter. Baron Wealth Management LLC now owns 5,852 shares of the industrial products company’s stock worth $219,000 after buying an additional 384 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Tenaris in the 1st quarter worth approximately $5,458,000. Ashton Thomas Private Wealth LLC lifted its position in shares of Tenaris by 23.8% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 28,431 shares of the industrial products company’s stock worth $1,112,000 after purchasing an additional 5,463 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Tenaris in the 1st quarter worth approximately $203,000. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Tenaris Trading Up 1.1%

Shares of TS stock opened at $36.37 on Friday. The firm has a market capitalization of $21.15 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 2.71 and a beta of 1.33. The firm has a fifty day simple moving average of $35.75 and a two-hundred day simple moving average of $35.57. Tenaris S.A. has a 12 month low of $30.06 and a 12 month high of $40.87.

Tenaris (NYSE:TS) last posted its earnings results 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 firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue was down 7.1% compared to the same quarter last year. On average, equities analysts predict that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Tenaris in a research report on Monday, July 21st. They issued an “outperform” rating on the stock. Piper Sandler downgraded shares of Tenaris from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $48.00 to $41.00 in a research report on Wednesday, September 17th. Barclays dropped their price target on shares of Tenaris from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Tenaris in a research report on Saturday, September 27th. Finally, Wall Street Zen downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Tenaris presently has a consensus rating of “Hold” and a consensus price target of $41.80.

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.