Highland Capital Management LLC Sells 1,305 Shares of Tenaris S.A. $TS

Highland Capital Management LLC lessened its holdings in Tenaris S.A. (NYSE:TS) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,035 shares of the industrial products company’s stock after selling 1,305 shares during the quarter. Highland Capital Management LLC’s holdings in Tenaris were worth $1,797,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TS. FORA Capital LLC bought a new position in shares of Tenaris during the first quarter valued at $421,000. GAMMA Investing LLC lifted its holdings in Tenaris by 4,369.1% during the 1st quarter. GAMMA Investing LLC now owns 41,965 shares of the industrial products company’s stock worth $1,641,000 after buying an additional 41,026 shares during the period. Encompass Capital Advisors LLC grew its position in shares of Tenaris by 90.7% in 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 during the last quarter. Northern Trust Corp increased its stake in shares of Tenaris by 109.6% in the first 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 during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of Tenaris by 93.2% in the first 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 during the period. 10.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TS has been the topic of a number of recent analyst reports. Sanford C. Bernstein initiated coverage on Tenaris in a research note on Monday, July 21st. They issued an “outperform” rating on the stock. Wall Street Zen lowered 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 Saturday, September 27th. Piper Sandler lowered shares of Tenaris from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $48.00 to $41.00 in a report on Wednesday, September 17th. Finally, Barclays decreased their price target on Tenaris from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $41.80.

Tenaris Trading Up 1.1%

NYSE:TS opened at $36.37 on Monday. Tenaris S.A. has a 12 month low of $30.06 and a 12 month high of $40.87. The stock has a market capitalization of $21.15 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 2.75 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 $35.50.

Tenaris (NYSE:TS) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 17.02% and a return on equity of 11.71%. The business’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. Equities analysts predict that Tenaris S.A. will post 3.14 earnings per share for the current fiscal 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.