Wealth Enhancement Advisory Services LLC Sells 549 Shares of Tenaris S.A. $TS

Wealth Enhancement Advisory Services LLC lessened its holdings in shares of Tenaris S.A. (NYSE:TS) by 5.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,987 shares of the industrial products company’s stock after selling 549 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Tenaris were worth $345,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TS. GAMMA Investing LLC raised its holdings in shares of Tenaris by 4,369.1% during the first quarter. GAMMA Investing LLC now owns 41,965 shares of the industrial products company’s stock valued at $1,641,000 after acquiring an additional 41,026 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of Tenaris during the first quarter valued at approximately $245,000. Farther Finance Advisors LLC raised its holdings 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 purchasing an additional 801 shares in the last quarter. D Orazio & Associates Inc. bought a new position in Tenaris in the first quarter worth $209,000. Finally, QRG Capital Management Inc. raised its holdings in Tenaris by 283.2% in the first quarter. QRG Capital Management Inc. now owns 80,338 shares of the industrial products company’s stock worth $3,142,000 after purchasing an additional 59,371 shares in the last quarter. Institutional investors own 10.45% of the company’s stock.

Analyst Upgrades and Downgrades

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

Tenaris Price Performance

Tenaris stock opened at $36.41 on Wednesday. Tenaris S.A. has a one year low of $30.06 and a one year high of $40.87. The stock has a market capitalization of $21.17 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 2.73 and a beta of 1.33. The business’s fifty day moving average is $35.67 and its 200 day moving average is $35.49.

Tenaris (NYSE:TS) last announced 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. 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 business’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period last year, the firm posted $0.59 earnings per share. As a group, sell-side analysts expect that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

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.