Vanguard Personalized Indexing Management LLC Buys 2,954 Shares of Tenaris S.A. $TS

Vanguard Personalized Indexing Management LLC boosted its stake in shares of Tenaris S.A. (NYSE:TS) by 13.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,915 shares of the industrial products company’s stock after buying an additional 2,954 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Tenaris were worth $932,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group boosted its position in Tenaris by 169.5% during the first quarter. Brooklyn Investment Group now owns 717 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 451 shares during the period. Ameritas Advisory Services LLC bought a new position in Tenaris during the second quarter worth about $28,000. Harbour Investments Inc. bought a new position in Tenaris during the first quarter worth about $39,000. Blue Trust Inc. boosted its position in Tenaris by 48.8% during the second quarter. Blue Trust Inc. now owns 1,088 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 357 shares during the period. Finally, GAMMA Investing LLC boosted its position in Tenaris by 52.5% during the second 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. Institutional investors own 10.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TS shares. Wall Street Zen upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a research report on Saturday. Piper Sandler lowered shares of Tenaris from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $48.00 to $41.00 in a research report on Wednesday, September 17th. Sanford C. Bernstein assumed coverage on shares of Tenaris in a research report on Monday, July 21st. They set an “outperform” rating for the company. BNP Paribas lowered shares of Tenaris from an “outperform” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Barclays cut their price objective 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. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $41.80.

Tenaris Price Performance

Shares of TS opened at $34.42 on Monday. Tenaris S.A. has a 1-year low of $30.06 and a 1-year high of $40.87. The company has a market capitalization of $20.01 billion, a P/E ratio of 9.35 and a beta of 1.33. The firm’s 50 day simple moving average is $35.54 and its 200 day simple moving average is $35.21.

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, beating 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 business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3 billion. During the same period in the previous year, the business posted $0.59 earnings per share. Tenaris’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, equities analysts anticipate that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris Company 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.