Farther Finance Advisors LLC Sells 939 Shares of Tenaris S.A. $TS

Farther Finance Advisors LLC lessened its position in shares of Tenaris S.A. (NYSE:TS) by 56.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 721 shares of the industrial products company’s stock after selling 939 shares during the period. Farther Finance Advisors LLC’s holdings in Tenaris were worth $27,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group increased its holdings in Tenaris by 169.5% during the 1st 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 1st quarter worth approximately $39,000. SVB Wealth LLC purchased a new position in Tenaris in the 1st quarter worth approximately $86,000. Smartleaf Asset Management LLC grew its stake in Tenaris by 33.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,297 shares of the industrial products company’s stock worth $90,000 after buying an additional 572 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC purchased a new position in Tenaris in the 1st quarter worth approximately $121,000. Institutional investors own 10.45% of the company’s stock.

Tenaris Stock Performance

Shares of Tenaris stock opened at $36.37 on Thursday. Tenaris S.A. has a 52-week low of $30.06 and a 52-week high of $40.87. The company’s 50 day moving average price is $35.66 and its 200-day moving average price is $35.49. The stock has a market capitalization of $21.14 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 2.75 and a beta of 1.33.

Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3 billion. During the same period in the prior year, the business posted $0.59 EPS. The firm’s revenue was down 7.1% compared to the same quarter last year. As a group, equities research analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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