Ameritas Advisory Services LLC Takes $28,000 Position in Tenaris S.A. $TS

Ameritas Advisory Services LLC acquired a new stake in shares of Tenaris S.A. (NYSE:TS) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 750 shares of the industrial products company’s stock, valued at approximately $28,000.

Other large investors have also added to or reduced their stakes in the company. FORA Capital LLC purchased a new stake in Tenaris during the first quarter valued at about $421,000. Encompass Capital Advisors LLC raised its holdings in shares of Tenaris by 90.7% during the 1st quarter. Encompass Capital Advisors LLC now owns 2,097,540 shares of the industrial products company’s stock valued at $82,035,000 after buying an additional 997,540 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Tenaris by 109.6% during the 1st quarter. Northern Trust Corp now owns 462,542 shares of the industrial products company’s stock valued at $18,090,000 after buying an additional 241,853 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Tenaris by 93.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,660 shares of the industrial products company’s stock valued at $66,000 after buying an additional 801 shares in the last quarter. Finally, Twin Tree Management LP purchased a new position in shares of Tenaris during the 1st quarter valued at about $1,221,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Price Performance

Shares of NYSE TS opened at $34.25 on Thursday. Tenaris S.A. has a 1 year low of $30.06 and a 1 year high of $40.87. The company’s 50-day moving average is $35.59 and its 200 day moving average is $35.31. The stock has a market capitalization of $19.91 billion, a P/E ratio of 9.31, a P/E/G ratio of 2.59 and a beta of 1.33.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.11. The company 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 firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. Research analysts anticipate that Tenaris S.A. will post 3.14 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on TS shares. Wall Street Zen downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Sunday, July 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tenaris in a research report on Tuesday. 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. BNP Paribas Exane reiterated a “neutral” rating on shares of Tenaris in a research report on Friday, October 10th. Finally, BNP Paribas downgraded Tenaris from an “outperform” rating to a “hold” rating in a report on Friday, October 10th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.